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 District of Columbia Remeasurement Clause is a significant aspect of commercial real estate leasing agreements in the District of Columbia. This clause is primarily utilized when variances exist between the rentable and actual area of a space that is to be built or leased. The purpose of this clause is to establish a fair method for accurately determining the rent and square footage of a property. The District of Columbia Remeasurement Clause is particularly essential due to the potential discrepancies that can occur between the stated rentable area and the actual usable area of a space. In many cases, the rentable area includes spaces such as common areas, hallways, restrooms, and utility rooms, which are shared by multiple tenants. However, the actual usable area is the specific space that an individual tenant can occupy and utilize exclusively. When variances exist between the rentable and actual area, the District of Columbia Remeasurement Clause ensures that the rent is adjusted accordingly. This allows tenants to pay rent based on the usable square footage they occupy rather than the entire rentable area. This clause protects tenants from paying for space they cannot utilize effectively and provides a fair method for calculating the rent. Different types of District of Columbia Remeasurement Clauses may exist, depending on the specific terms and conditions outlined in the leasing agreement. One common type is the "Base Building Remeasurement" clause, which typically focuses on measuring the rentable area based on the exterior walls and structural elements of the building. Another type is the "Gross-up Remeasurement" clause, which considers additional common areas or shared spaces, such as lobbies or conference rooms, in determining the rentable area. In conclusion, the District of Columbia Remeasurement Clause is an important provision in commercial real estate leasing agreements. It ensures fairness by accurately determining the rent and square footage of a property when there are discrepancies between the rentable and actual area. Different types of clauses may exist, such as the Base Building Remeasurement and Gross-up Remeasurement clauses, each with its own method for determining the rentable area.
The District of Columbia Remeasurement Clause is a significant aspect of commercial real estate leasing agreements in the District of Columbia. This clause is primarily utilized when variances exist between the rentable and actual area of a space that is to be built or leased. The purpose of this clause is to establish a fair method for accurately determining the rent and square footage of a property. The District of Columbia Remeasurement Clause is particularly essential due to the potential discrepancies that can occur between the stated rentable area and the actual usable area of a space. In many cases, the rentable area includes spaces such as common areas, hallways, restrooms, and utility rooms, which are shared by multiple tenants. However, the actual usable area is the specific space that an individual tenant can occupy and utilize exclusively. When variances exist between the rentable and actual area, the District of Columbia Remeasurement Clause ensures that the rent is adjusted accordingly. This allows tenants to pay rent based on the usable square footage they occupy rather than the entire rentable area. This clause protects tenants from paying for space they cannot utilize effectively and provides a fair method for calculating the rent. Different types of District of Columbia Remeasurement Clauses may exist, depending on the specific terms and conditions outlined in the leasing agreement. One common type is the "Base Building Remeasurement" clause, which typically focuses on measuring the rentable area based on the exterior walls and structural elements of the building. Another type is the "Gross-up Remeasurement" clause, which considers additional common areas or shared spaces, such as lobbies or conference rooms, in determining the rentable area. In conclusion, the District of Columbia Remeasurement Clause is an important provision in commercial real estate leasing agreements. It ensures fairness by accurately determining the rent and square footage of a property when there are discrepancies between the rentable and actual area. Different types of clauses may exist, such as the Base Building Remeasurement and Gross-up Remeasurement clauses, each with its own method for determining the rentable area.
