The Mecklenburg North Carolina Remeasurement Clause is a legal provision used in commercial real estate leases to address discrepancies between the rentable and actual area of a space to be built. It is intended to protect both landlords and tenants by establishing a fair and consistent method for determining the rentable area of a leased premise. When constructing a new building or renovating an existing space, it is common for there to be differences between the rentable area stated in the lease agreement and the actual area after completion. These variances can be due to a variety of factors such as design changes, construction errors, or differing measurement methods. The Mecklenburg North Carolina Remeasurement Clause specifies how these variances will be resolved and any resulting changes in rent calculations. By incorporating this clause into the lease agreement, both parties can avoid potential disputes and ensure that the rental obligations accurately reflect the actual usable area of the leased premises. There are several types of remeasurement clauses that can be used in Mecklenburg, North Carolina, depending on the preferences and requirements of the parties involved. These include: 1. A Permitted Variance Clause: This clause allows for a specific percentage of variance between the rentable and actual area, typically around 3-5%. If the discrepancy falls within this permitted range, no adjustments will be made to the rent calculations. 2. A Proportional Adjustment Clause: This type of clause requires a proportional adjustment to the rent calculations when there is a variance between the rentable and actual area. The adjustment is based on the difference in square footage and can result in either an increase or decrease in the rent, depending on the situation. 3. An Arbitration Clause: In some cases, the parties may choose to include an arbitration clause as part of the remeasurement provision. This clause provides a mechanism for resolving any disputes related to the measurement of the leased premises. If a disagreement arises, an impartial third party, such as an arbitrator, will be appointed to make a binding decision based on the terms of the lease agreement. When negotiating a lease agreement in Mecklenburg, North Carolina, it is crucial to carefully consider the inclusion of a remeasurement clause to address potential discrepancies between the rentable and actual area. This clause can help ensure transparency, fairness, and accuracy in determining the rent obligations 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.