Working in real estate can have its ups and downs. The ups and downs usually correlate with the economy and affect the housing market. When the market is up and economy is booming, the housing marketing usually reflects this and all is flourishing. But, when the economy takes a downturn (like our current situation) then the real estate marketing is most definitely affected, as well.
However, there are many that do not shy away from investing in real estate. They say that it is a solid and sure investment that always reaps benefits in the long term.
If you are going to jump on the real estate band wagon, there are many terms and facets of the business to understand so you are certain you are making the right choices. If you are renting out your property, it is good to understand the different types of leases out there. There are net leases and within this category there are additional types of leases.
A triple net lease is a lease that is a real boon to the investor. It is an agreement where the tenant or lessee (s) agrees to pay all additional obligations on the property. This includes real estate taxes, homeowner’s insurance and maintenance expenses. This is all in addition to the rent. Usually in this type of lease, the tenant is responsible for payment of all costs that are associated with maintaining and repairing the common area.
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