The Wayne Michigan Remeasurement Clause is a legal provision commonly used in commercial real estate agreements. This clause is primarily employed when there are noticeable variances between the rentable area, also known as leasable area or gross leasable area (GLA), and the actual area of a space that is being constructed or developed. When it comes to Wayne Michigan specifically, this clause is incorporated into lease contracts to address inconsistencies between the rentable area of a property, which is typically specified in a lease, and the actual usable area of that space. This can occur due to various reasons such as differences in measurement methods, unanticipated building design changes during construction, or inaccurate initial calculations. The purpose of the Wayne Michigan Remeasurement Clause is to establish a framework for reevaluating and recalculating the rentable area of a property in a fair and transparent manner. By addressing the discrepancies between the actual area and the rentable area, this clause ensures that both landlords and tenants are fairly treated and that the rent accurately reflects the usable space. There are different types or variations of the Wayne Michigan Remeasurement Clause depending on the specific needs and requirements of the parties involved. Some common types of remeasurement clauses that may be used include: 1. Usable/Net Remeasurement: This type of clause focuses on adjusting the rentable area to reflect only the usable or net area of the space. It excludes common areas, such as hallways, elevators, and shared amenities, from the rentable calculation. 2. Gross Remeasurement: In contrast to the usable/net remeasurement clause, the gross remeasurement clause includes all areas within a property, both usable and common areas, when recalculating the rentable area. 3. Proportional Remeasurement: This type of clause takes into account the proportion of variances between the actual and rentable area, adjusting the rental rate accordingly. For example, if the actual area is 10% smaller than anticipated, the rent would be reduced by 10%. 4. Perimeter Remeasurement: This clause focuses on adjusting the rentable area based on differences in the external space or perimeter of the property, rather than internal measurements. It is important for both tenants and landlords to carefully review and negotiate the terms of the Wayne Michigan Remeasurement Clause. Transparency, accuracy in measurement, and clear guidelines for conducting the remeasurement process are crucial elements to consider when including this clause in a lease agreement.
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.