Att göra triple net till triple win

Detta är en Uppsats för yrkesexamina på avancerad nivå från Lunds universitet/Fastighetsvetenskap

Sammanfattning: When organizations choose between leasing and owning facilities there are benefits and drawbacks associated with both alternatives. If an organisation proceeds with a middle ground solution by leasing using a triple net lease, they will instead face challenges unique for that lease type. The aim of this thesis is to find out how companies can take advantage of triple net leases and what the requirements are for them to do so. By answering the research questions the hope is to make three topics clearer. The thesis intends to answer why some companies in the real estate industry choose to utilize triple net, what the main challenges are and when it is advantageous for a company to use a triple net lease. To research what organizations experience as being the benefits, drawbacks and challenges, two methods are used. First, a literature review is conducted with the aim of proving what is known about the topic of benefits, drawbacks and challenges for triple net leases. The results of the literature review are then used as a basis for designing interview questions. The interview questions are in turn used in a case study of a real estate company where interviews are conducted with the company as well as its customers to be able to find out what the actual experiences are surrounding benefits, drawbacks and challenges. The results of the studies shows that the organisations’ experiences of using triple net leases are in line with most of the current theory. The organizations utilize triple net leases because they do experience the benefits of the lease type. The owners get a higher profit when regarding risk and they also do not need to have any capability to perform maintenance. The occupiers feel that they get a lower base rent, they can relieve their balance sheets and can therefore focus on their primary business, they get lower operating and maintenance costs and lastly, better coordination between maintenance works and primary business. The main challenges are the occupiers’ ability to do maintenance, maintenance debts, split incentive issues, legal uncertainties, good or bad relationship dynamics, uncertainties about areas of responsibility and issues about changing accounting practises making an impact on the incentive to relieve balance sheets. The results also come up with ways of managing these challenges. The two sides must have a continuous dialogue and strengthen it with regular inspections to make sure both parties have knowledge about technical conditions and the like. They can share and update maintenance plans. They can try to line up incentives by having a reasonable lease length and by giving responsibility of some investments to the owner. The lease agreements can be made extra clear to avoid uncertainties around areas of responsibility and less frequent issues.

  HÄR KAN DU HÄMTA UPPSATSEN I FULLTEXT. (följ länken till nästa sida)