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Updated over 5 years ago,
NNN Lease - Security Deposit Listed as None
Went into escrow on our very first NNN property this week. Documentation is starting to roll in as part of our Due Diligence period and Received the lease documentation today and it says "Security Deposit: None". Is it standard practice for a NNN property to not have a security deposit? Should I be weary? Can I have the lease amended to provide for one? My partner is like they have 30+ locations and their financials look good, "don't worry about it." Needless to say, I'm worried about it! Any advice for this noob would be greatly appreciated.
Micah Freeman