New, build-to-suit, Dollar General stores typically have 15-year NNN leases . These leases are flat with a 10% rent increase during the option periods. The leases are very attractive because they provide for a long-term, passive investment requiring minimal to no landlord responsibilities.
How long are Dollar General leases?
The standard lease term for Dollar General’s new properties is 15 years . A long-term, strong single tenant means reliablepayments coming in for the foreseeable future.
Does Dollar General renew leases?
The lease contains 3 (5 year) options to renew , each with a 10% rental rate increase. The lease is corporately guaranteed by Dollar General Corporation which holds a credit rating of “BBB”, which is classified as Investment Grade.
What happens if lease is not renewed?
Generally, landlords must not accept rent or agree to new terms beyond the original lease term if they do not wish to renew the lease. ... In most cases, staying in a rental property beyond the end of your lease term is grounds for a landlord to file an “unlawful detainer
How do I ask for a lease renewal?
- Start the conversation. ...
- Know what your apartment is worth. ...
- Learn something, even one small thing, about the market that works in your favor. ...
- Show off what a great tenant you are! ...
- Try to extend your lease. ...
- Offer money up-front. ...
- Provide services for the home or building. ...
- Come up with some requests.
Is Dollar General a good tenant?
A long-term, strong single tenant means reliablepayments coming in for the foreseeable future. Strong cap rate. According to Vernon, most Dollar General returns are in the 6.5 percent range – a strong rate that can mean a solid return oninvestment.
How much does a Dollar General store cost?
Dollar General stores are typically around 7,500 square feet, with no more than 10,000 items from household name brands. Each store costs about $250,000 to open , compared to several million dollars for the average grocery store or big box retailer.
How long can a tenant stay after the lease expires?
Most of the time, landlords fear that a tenant will leave before the lease is over, but sometimes, tenants decide to stay in the rental even after the lease term has ended. Technically, the tenant can stay for as long as you let them.
Can landlord refuse to renew lease Dubai?
The Landlord can also refuse the renewal of a lease in the event the property requires renovation or comprehensive maintenance . ... In addition, the landlord is required to submit a technical report issued by Dubai Municipality or accredited by it to this effect.
What is a normal fee for lease renewal?
The fee covers the time it takes to make any adjustments to the lease—including performing a Comparative Market Analysis to recommend rent changes (if any)—and obtain the tenant’s signature. Whether the property managers charge a set fee or a percentage, the lease-renewal fee is typically around $200 or less .
Can I negotiate my lease renewal?
Whether you received a lease renewal letter from your landlord or are trying to be proactive in securing your apartment for a long haul, you should know that you can and should negotiate your lease renewal . ... For instance, you can negotiate rent increases, upgrades to your unit or even adding pets.
What is the lease renewal process?
This involves time and money spent marketing the unit , receiving applications, showing your unit, screening tenants, onboarding, and signing a new lease. According to Avail, here’s a breakdown of the costs you will avoid by renewing a lease: Source.
Do you have to pay to extend a lease?
The lease will extend up to six months from the date you receive the written notice . When the extension goes past the end of the lease, you can terminate the lease with one month’s written notice (given during the extension period). An offer for a new lease can be withdrawn in one month if not accepted.
How many square feet is a Dollar General store?
The typical Dollar General store has, on average, approximately 7,400 square feet of selling space and is typically operated by a store manager, an assistant store manager and three or more sales associates.
What is dollar general credit rating?
Dollar General possesses an investment grade rating from Standard and Poor’s of BBB and a Moody’s long term rating of Baa2 . The company was founded in 1939 and is currently headquartered in Goodlettsville, Tennessee.
What is the future of dollar stores?
Dollar Tree plans to open 600 new stores (including 400 Dollar Tree and 200 Family Dollar locations) and renovate 1,250 Family Dollar stores in fiscal 2021.
