This office lease clause lists a way to provide for variances between the rentable area of a "to be built" demised premises and the actual area after construction.
The Connecticut Remeasurement Clause is a provision commonly found in commercial real estate leases. It is used when there are discrepancies or variances between the stated rentable area and the actual area of a space to be built or occupied. This clause allows for adjustments to be made to the rent or lease charges based on the accurate measurement of the premises. One of the key purposes of the Connecticut Remeasurement Clause is to ensure fairness and accuracy in determining the rent payable by tenants. It protects both landlords and tenants from potential discrepancies in measuring the usable and rentable areas of a property. In Connecticut, this clause is particularly important, as it provides a standardized process for remeasurement across different types of commercial leases. When there are variations between the stated rentable area and the actual area of a space, different types of Connecticut Remeasurement Clauses may come into play. These can include: 1. Area Adjustment Clause: This type of clause allows for adjustments to the rentable area based on accurate measurements. If the actual area is larger or smaller than initially stated, the rent may be adjusted accordingly. 2. Percentage Adjustment Clause: This clause, sometimes referred to as the "percentage rent" clause, calculates the rent based on a certain percentage of the actual area. It ensures fairness by linking the rent to the usable space a tenant occupies. 3. Remeasurement Process Clause: This clause outlines the specific process for remeasuring the space in question. It includes details on who will perform the remeasurement, timelines for the process, and how any adjustments will be implemented. 4. Cost Allocation Clause: In cases where remeasurement results in an adjustment to the rentable area, this clause determines how the additional costs or savings will be allocated between the landlord and tenant. The Connecticut Remeasurement Clause is especially valuable during lease negotiations, as it provides clarity and transparency regarding the determination of rentable area and its impact on lease payments. Both parties can rely on this clause to ensure that the lease accurately reflects the true dimensions of the space being rented, avoiding potential conflicts or disputes in the future. In summary, the Connecticut Remeasurement Clause is a crucial component of commercial leases, ensuring accuracy and fairness by accounting for any variances between the stated and actual area of a space. It offers peace of mind to both landlords and tenants, providing a clear process for remeasurement and adjusting rental payments accordingly.
