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 Florida Remeasurement Clause is a crucial legal provision utilized in real estate contracts when disparities arise between the rentable area and the actual area of a space being constructed. This clause serves to address the discrepancy and ensures that both parties involved are fairly compensated and obligations for rent payments are accurately determined. By understanding the intricacies of the Florida Remeasurement Clause and its various types, tenants, landlords, and developers can effectively navigate potential conflicts and safeguard their interests. When constructing a property, it is not uncommon for variations to arise between the initially projected "rentable area" and the final "actual area" of the space. These deviations can be caused by factors such as changes in design, construction inefficiencies, or modifications during the construction process. Consequently, such variances pose significant challenges in determining the appropriate amount of rent to be paid, as the rental obligations are typically calculated based on the rentable area. The Florida Remeasurement Clause provides a mechanism for addressing these discrepancies and ensuring equitable outcomes. This clause is typically inserted into lease agreements or contracts relating to the construction of commercial buildings, offices, or retail spaces. It outlines the agreed-upon procedures and methodology to be followed for remeasuring the space to determine the precise rentable area, thus facilitating fair rent calculations. There are distinct types of Florida Remeasurement Clauses commonly used to accommodate different scenarios, including: 1. Linear Measurement Remeasurement Clause: This type of clause focuses on remeasuring the space based on linear dimensions such as length, width, and height. It helps determine the square footage and any variations between the rentable and actual area. 2. Gross-up Remeasurement Clause: This clause accounts for common areas shared among multiple tenants, such as hallways, restrooms, or lobbies. It ensures that the rentable area considers the portion of these shared spaces allocated to each tenant, thereby enabling precise rent calculations. 3. Building Standard Remeasurement Clause: This clause establishes a standardized set of criteria to be used when remeasuring the space. It defines the specific methodology, tools, and guidelines to avoid subjective interpretations and ensure consistency. It is crucial for all parties involved in a contract to clearly define which type of Florida Remeasurement Clause will be utilized. Additionally, the clause should address potential conflicts or disagreements that may arise during the remeasurement process, highlighting dispute resolution mechanisms to reach an amicable solution. In conclusion, the Florida Remeasurement Clause serves as a vital tool for addressing variances between the rentable and actual area of a space being built. By employing this clause and its various types, parties involved in real estate contracts can effectively manage and resolve conflicts while ensuring fair rent calculations and equitable outcomes for all.The Florida Remeasurement Clause is a crucial legal provision utilized in real estate contracts when disparities arise between the rentable area and the actual area of a space being constructed. This clause serves to address the discrepancy and ensures that both parties involved are fairly compensated and obligations for rent payments are accurately determined. By understanding the intricacies of the Florida Remeasurement Clause and its various types, tenants, landlords, and developers can effectively navigate potential conflicts and safeguard their interests. When constructing a property, it is not uncommon for variations to arise between the initially projected "rentable area" and the final "actual area" of the space. These deviations can be caused by factors such as changes in design, construction inefficiencies, or modifications during the construction process. Consequently, such variances pose significant challenges in determining the appropriate amount of rent to be paid, as the rental obligations are typically calculated based on the rentable area. The Florida Remeasurement Clause provides a mechanism for addressing these discrepancies and ensuring equitable outcomes. This clause is typically inserted into lease agreements or contracts relating to the construction of commercial buildings, offices, or retail spaces. It outlines the agreed-upon procedures and methodology to be followed for remeasuring the space to determine the precise rentable area, thus facilitating fair rent calculations. There are distinct types of Florida Remeasurement Clauses commonly used to accommodate different scenarios, including: 1. Linear Measurement Remeasurement Clause: This type of clause focuses on remeasuring the space based on linear dimensions such as length, width, and height. It helps determine the square footage and any variations between the rentable and actual area. 2. Gross-up Remeasurement Clause: This clause accounts for common areas shared among multiple tenants, such as hallways, restrooms, or lobbies. It ensures that the rentable area considers the portion of these shared spaces allocated to each tenant, thereby enabling precise rent calculations. 3. Building Standard Remeasurement Clause: This clause establishes a standardized set of criteria to be used when remeasuring the space. It defines the specific methodology, tools, and guidelines to avoid subjective interpretations and ensure consistency. It is crucial for all parties involved in a contract to clearly define which type of Florida Remeasurement Clause will be utilized. Additionally, the clause should address potential conflicts or disagreements that may arise during the remeasurement process, highlighting dispute resolution mechanisms to reach an amicable solution. In conclusion, the Florida Remeasurement Clause serves as a vital tool for addressing variances between the rentable and actual area of a space being built. By employing this clause and its various types, parties involved in real estate contracts can effectively manage and resolve conflicts while ensuring fair rent calculations and equitable outcomes for all.
