Strip Mall - Commercial Property Management
My company manages apartments and 1 retail location for over 10 years. The retail location is just a fixed rent payment with no reimbursements.
I'm looking to manage a small strip mall that has NNN leases. From what I heard for this property, the tenants pay an estimated amount of taxes, insurance and exterior maintenance every month. At the end of the year, they settle up (clear the balances). I heard this is typical with NNN leases.
Does anyone know of any software that can generate statements to provide to my future retail NNN tenants (for the reimbursement arrangement I described)? The amount of taxes and insurance will go up when we take it over. How about any books that highlight the differences in managing commercial property and generate bills etc- any suggestions?