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 Illinois Remeasurement Clause comes into play when there are differences or variances between the rentable area and the actual area of a space being constructed or built. This clause ensures that both parties involved in a lease agreement have a clear understanding of the calculation method used to determine the space's rentable area. The purpose of the Illinois Remeasurement Clause is to establish guidelines for measuring and remeasuring the actual area of a space, which may differ from the rentable area due to factors such as inefficiency in the usable space, common areas, or structural elements. There are a few different types of Illinois Remeasurement Clauses that are commonly used: 1. Gross-up Clause: This clause allows the landlord to "gross up" the tenant's rentable area to account for shared spaces such as lobbies, corridors, stairwells, or restrooms. It ensures that tenants pay their fair share for the common areas, which adds to the rentable area. 2. Exclusion Clause: An exclusion clause excludes certain areas from the calculation of the rentable area. For example, utility rooms, mechanical areas, or storage spaces may be excluded from the calculation of the rentable area, resulting in a smaller rentable area than the actual area. 3. Building Standard Clause: This type of clause specifies the method used to determine the rentable area and identifies any building standards, such as measurement guidelines or industry standards, that must be adhered to during the determination and remeasurement process. 4. Remeasurement Protocol Clause: This clause outlines the process that should be followed if any party wishes to remeasure the space. It may include specific instructions on how the remeasurement should be conducted, which parties should be involved, and the criteria for accepting or rejecting a remeasurement request. By including an Illinois Remeasurement Clause in a lease agreement, both the landlord and tenant can have a transparent understanding of the space's rentable area, minimizing any potential disputes over area measurements. It ensures clarity and fairness in determining the rentable area and helps establish a foundation for accurate rental calculations based on the agreed-upon criteria.The Illinois Remeasurement Clause comes into play when there are differences or variances between the rentable area and the actual area of a space being constructed or built. This clause ensures that both parties involved in a lease agreement have a clear understanding of the calculation method used to determine the space's rentable area. The purpose of the Illinois Remeasurement Clause is to establish guidelines for measuring and remeasuring the actual area of a space, which may differ from the rentable area due to factors such as inefficiency in the usable space, common areas, or structural elements. There are a few different types of Illinois Remeasurement Clauses that are commonly used: 1. Gross-up Clause: This clause allows the landlord to "gross up" the tenant's rentable area to account for shared spaces such as lobbies, corridors, stairwells, or restrooms. It ensures that tenants pay their fair share for the common areas, which adds to the rentable area. 2. Exclusion Clause: An exclusion clause excludes certain areas from the calculation of the rentable area. For example, utility rooms, mechanical areas, or storage spaces may be excluded from the calculation of the rentable area, resulting in a smaller rentable area than the actual area. 3. Building Standard Clause: This type of clause specifies the method used to determine the rentable area and identifies any building standards, such as measurement guidelines or industry standards, that must be adhered to during the determination and remeasurement process. 4. Remeasurement Protocol Clause: This clause outlines the process that should be followed if any party wishes to remeasure the space. It may include specific instructions on how the remeasurement should be conducted, which parties should be involved, and the criteria for accepting or rejecting a remeasurement request. By including an Illinois Remeasurement Clause in a lease agreement, both the landlord and tenant can have a transparent understanding of the space's rentable area, minimizing any potential disputes over area measurements. It ensures clarity and fairness in determining the rentable area and helps establish a foundation for accurate rental calculations based on the agreed-upon criteria.
