Hi guys! I just purchased my first property in July so I'm a brand new commercial landlord. I have one committed tenant (out of a potential 2) and I'm just trying to figure out the best way to pass through operating expenses in a triple net (NNN) lease.
I've searched the forums but I haven't seen anything directly related to this.
1. Should my tenant be billed monthly, just as they will be for rent? Or should they be expected to only pay these quarterly?
2. Do you typically just issue your tenants a statement with the exact amounts of individual expenses and a grand total, or do you just give them a statement with the total estimated budget and reconcile any miscalculations at the end of the year?
I hope this makes sense. Thank you so much in advance for any insight!
