Opening a dance workout studio and nutrition bar. Any Advice? Triple N lease help.
I'm currently on the lookout for a rental space in my city for a small dance studio and fitness bar. It'll be small and cater to a niche group. I have been working out of other people's studios and am familiar with the line of work, just not with the work that comes in to having your own place.
The rental space I am very interested in is under a Triple Net lease contract for 5 years. Considering that I'm a startup, the broker mentioned that he can start my monthly rent at $3k-3,200(Although the original rate is 4k), but he would later increase it by $200 every passing year until I reach the 4k rate. Would this contract work for me? I would love it if someone could break down their experience in renting out a business space and what type of contract agreements were made. Also, if someone who is under a NNN lease explain to me how it works in real life, that would be great. Thanks in advance!
Submitted July 23, 2018 at 05:47AM by SkoldpaddaCommala
via reddit https://ift.tt/2mzHh03