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Timestamp: 2018-12-10 18:57:06
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TopicEscalation & Pass-Through Provisions
Sub-TopicOperating Expense Escalations
Fuel and Utility Cost Escalations
For the purposes of this Article only, the following words and terms shall have the following meanings: “Fuel Cost” shall mean Landlord’s cost for all fuel (including but not limited…
Gross Up of Operating Expenses: Base Year and Any Calendar Year (Pro-Landlord)
If the Building is not at least ninety-five percent (95%) occupied, in the aggregate, during any calendar year of the Lease Term or if Landlord is not supplying services to…
Gross Up of Operating Expenses: Base Year (Pro-Tenant)
If the Building is not at least ninety-five percent (95%) occupied, in the aggregate, during the Base Year or if Landlord is not supplying services to at least ninety-five percent…
Operating Expense Definition Exclusions
The following items shall be excluded from the operating expense definition: Costs which are directly reimbursable to landlord by other tenants; Costs of the initial construction of the building or…
Operating Expense Escalations and Percentage Rent Increases in a Commercial Lease
In many leases, in addition to a real estate tax escalation, among the more popular (or unpopular, depending on your perspective) rent escalation provisions are those which require the tenant…
Introduction: In many leases, in addition to a real estate tax escalation, among the more popular (or unpopular, depending on your perspective) rent escalation provisions are those which require the…
Base Rent: Base Rent is the minimum or base amount of rent payment as set out in a lease and is often referred to as “fixed rent.” Generally stated, base…
Capitalization Rate (a.k.a. “Cap Rate”): The rate of return on a real estate investment property based upon the income that the property is expected to produce. A capitalization rate can…
Early Access: A provision in a lease allowing the tenant access to the space prior to receiving possession, without the payment of rent, during the latter part of landlord’s construction in…
Façade: An exterior side of a building that is usually characterized as the front of the building. From an engineering perspective, the façade may have a significant impact on energy efficiency…
Occupancy Rate: The percentage of space in a building that is occupied in relation to all leasable space in such building. Operating Expense Escalation (Clause) | Operating Cost Escalation |…
Real Estate Tax (Escalations): Provision in lease agreements where tenant agrees to pay its pro-rata share of any increase in real estate taxes on the leased property over and above a…
Somewhat analogous to the line by comedian Tracy Morgan where he said “I got five kids – I claim three for income tax purposes,” when negotiating a myriad of pro-tenant…
Operating Expense Escalations & Percentage Rent Increases: Negotiating and Preparing a Letter of Intent (“LOI”) (Part 8)
Operating Expense Escalations & Percentage Rent Increases in a LOI In many leases, in addition to a real estate tax escalation, among the more popular (or unpopular, depending on your…
Real Estate Tax Escalations: Negotiating and Preparing Letter of Intent (“LOI”) (Part 9)
Real Estate Tax Escalations Somewhat analogous to the line by comedian Tracy Morgan where he said “I got five kids – I claim three for income tax purposes,” when negotiating…
Operating Expense Escalations & Percentage Rent Increases in a Commercial Lease (Part 1)
(Part 1 of 4) | 8:55
Operating Expense Escalations & Percentage Rent Increases within a Letter of Intent (“LOI”)
Defining Operating Expenses
Typically, at their most basic level, operating expenses of a building include those attributable to: Ownership, management, maintenance and operating expenses Insurance premiums and deductibles Wages, salaries and benefits of…
Operating Expense Definitional Carve-Outs and Limitations
Landlord Advocates: A landlord’s operating expense definition should contain as much as possible -including the kitchen sink. With that said, Leasing REality strongly suggests that landlords add, immediately after their…
Establishing Tenant’s Pro-Rata Share of Tax Increases
When negotiating a myriad of pro-tenant carve-outs to a real estate tax escalation clause, tenant advocates should consider being selective when doing so. Never give a landlord or anyone for…
Miscellaneous Real Estate Tax Clause Tips
Business Improvement District Charges: As a straight pass-through, landlords should attempt to pass any business improvement district (“BID”) charges on to their tenant based on their proportion share of same.…
Operating Expense Escalations and Percentage Rent Increases in a Commercial Lease (Part 2)
(Part 2 of 4) | 7:50
Operating Expense Escalations & Percentage Rent Increases in a Commercial Lease (Part 3)
(Part 3 of 4) | 10:19
Operating Expense Escalations & Percentage Rent Increases in a Commercial Lease (Part 4)
(Part 4 of 4) | 4:01
Operating Expense Escalations & Percentage Rent Increases in a Commercial Lease (Part 2)
Operating Expense Escalations & Percentage Rent Increases: Negotiating and Preparing a Letter of Intent (“LOI”) (Part 8A)
Operating Expense Escalations & Percentage Rent Increases: Negotiating and Preparing a Letter of Intent (“LOI”) (Part 8B)
Real Estate Tax Escalations: Negotiating and Preparing Letter of Intent (“LOI”) (Part 9A)
Real Estate Tax Escalations: Negotiating and Preparing Letter of Intent (“LOI”) (Part 9B)
(Part 8A of 24) | 10:20
(Part 8B of 24) | 8:04
(Part 9A of 24) | 5:56
(Part 9B of 24) | 11:29