This office lease clause is used to respond to various changes that might occur within the tenant's office building or shopping center.
Arizona Measurement Representations and Proportionate Share Adjustment of Tenants Proportionate Tax Share
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US-OL707
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FAQ
The amount due to each shareholder is their pro rata share. This is calculated by dividing the ownership of each person by the total number of shares and then multiplying the resulting fraction by the total amount of the dividend payment.
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.
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.
If no time frame is established in the rental agreement, the agreement becomes a month-to-month agreement. A.R.S. § 33-1314(D). To terminate a month-to-month rental agreement, a landlord or a tenant must give 30 days notice in writing before the next rent payment would normally be due.
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.