This office lease clause is used to respond to various changes that might occur within the tenant's office building or shopping center.
Wyoming Measurement Representations and Proportionate Share Adjustment of Tenants Proportionate Tax Share
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FAQ
Tenant's Proportionate Share of Real Estate Taxes means a percentage factor, determined by dividing the net rentable square footage contained in the Premises by the net rentable square footage contained in the office and retail portions of the Building, or one and 58/100 percent (1.58%).
The pro-rata share is the percentage of expenses shared by the tenant for the shopping center or office building. In most leases, the pro-rata share is calculated as a fraction of the tenant's demised square footage divided by the total square footage of the shopping center or the building.
In general, the tenant's proportionate share is determined by taking the building's rentable square footage and dividing it by the tenant's rentable square footage. Local industry customs usually provide the landlord with the guiding principles for: Measuring the building.
net lease, often used with singleuser industrial facilities, means that the tenant pays "TMI" taxes, maintenance, and property insurance. Tenants also are responsible for all costs associated with their occupancy, including personal property taxes, janitorial services, and all utility costs.
Tenant's Share may also be referred to as Tenant's Proportionate Share, Pro Rata Share or simply PRS. It represents the percentage of the Defined Area that is occupied by a particular tenant.
Your pro rata share of household operating expenses is the average monthly household operating expenses (based on a reasonable estimate if exact figures are not available) divided by the number of people in the household, regardless of age.
Proportionate Share of Operating Expenses means a fraction equal to the total Gross Rentable Area of the Premises divided by the total Gross Rentable Area of the Building.