Black tee with Hard Rock Cafe logo 'Makati Philippines'. Size (Approx. in cm): Pit to pit-65 Length-77
What does triple net lease mean?
A triple net lease means the tenant pays the owner’s costs, including (but not always limited to) the property insurance, taxes and maintenance on the building in addition to the rent.
What does CAM mean?
CAM stands for Common Area Maintenance Fee. CAM is used to divide the expense of maintaining the common areas of an office building, office park or strip mall among the various tenants. The expenses might include repairs, insurance, property maintenance and sometimes the cost of the administrative staff who run the complex.
What does “Gross-Up” clause mean?
Sometimes the landlord pays all the maintenance costs for a facility then gets reimbursed from the tenants. If the facility is not fully rented out, then the landlord will not be fully reimbursed for those costs. If the tenant’s lease has a ‘gross-up’ clause, the landlord can look to the tenant to pay more if not all of the maintenance fees.