The Nassau New York Building Operating Cost Addendum refers to a document that outlines the additional expenses associated with operating a building in Nassau County, New York. This addendum is typically attached to a lease agreement and provides detailed information on the various costs that tenants are responsible for in addition to their rent payments. The purpose of this addendum is to ensure transparency and clarify the financial obligations of both the landlord and the tenant. Keywords: Nassau New York, Building Operating Cost Addendum, lease agreement, additional expenses, operating costs, financial obligations, transparency, tenant responsibilities. Different types of Nassau New York Building Operating Cost Addendum may include: 1. Utility costs: This addendum specifies the tenant's responsibility for paying utility expenses such as water, electricity, gas, or heating oil. It outlines how these costs will be calculated and allocated among the tenants. 2. Maintenance and repair costs: This section details the tenant's obligations regarding routine maintenance and repairs. It may cover expenses related to general upkeep, cleaning, landscaping, or other maintenance services required to keep the building in good condition. 3. Property management fees: The addendum may include charges related to property management services provided by the landlord or a third-party management company. These fees could cover administrative tasks, building maintenance oversight, or any additional services provided to tenants. 4. Insurance costs: This section outlines the tenant's responsibility for obtaining and maintaining insurance coverage for their leased premises. It may specify the type and amount of insurance required and the tenant's obligation to provide proof of coverage to the landlord. 5. Common area maintenance costs (CAM): If the leased building has common areas or shared facilities, such as lobbies, elevators, or parking lots, this addendum may include provisions for tenants to contribute to the maintenance and expenses associated with these areas. It could specify how these costs will be determined and divided among the tenants. 6. Taxes and assessments: This section outlines the tenant's responsibility for paying their share of property taxes and any assessments levied against the building. It may specify the method for calculating these costs and provide a clear breakdown of the tenant's obligations. In conclusion, the Nassau New York Building Operating Cost Addendum is an important document that clarifies tenants' financial responsibilities beyond their basic rent payments. It covers various additional costs, ensuring transparency and establishing clear guidelines for both landlords and tenants.
Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés. For your convenience, the complete English version of this form is attached below the Spanish version.