Colleen Columbo Mortgage Fraud

In: Business and Management

Submitted By Billyxp1
Words 574
Pages 3
• What type of lease would you require if you were to lease a commercial building? Explain why. • The type of lease required for commercial building will be dictated by the type of service, location, or business rendered by your company. If your intention is to open up an automobile repair shop, Home Depot, Best Buy, CVS, etc…, and you have outstanding credit, then triple net lease would benefit you well. In the case of a small business, say an automobile repair shop, my preference is still the triple net lease (NNN). The NNN lease is based on your credit, and the work required in bringing the facility up to a workable standard or building code. The basic office building might require paint and a signs while an auto repair shop requires the modification of wiring, foundation, hazardous chemical and so on. However, if you’re an established fortune 500 company with AAA rating, the NNN should fit the bill. Home Depot or CVS are usually built from the ground up. Then reason triple net lease is best for an industrial business or service is the necessary amounts of work in bring that facility up to the current building code. Business like the Home Depot or Best Buy is generally built from the ground up and usually does not accept reconditioned buildings. In the case off small business man with good credit, opening an automobile repair shop could be expensive. The associated cost of putting in body lift, acid cleaner, heavy equipment, hazardous material disposal, etc… could be expensive and all are necessary before the front door could be open. Every single aspect cost money and lots of it. Because the triple net lease required that the tenet pays the taxes, insurance, and maintenance on the building, the advantage appeared to be on the side of the landlord. Reality is both parties share a symbiotic relationship. NNN lease agreement tends to benefit someone…...

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