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Kansas Remeasurement Clause Used When Variances Exist Between the Rentable and Actual Area of a Space to be Built

Category:
Landlord Tenant - Commercial Leases
State:
Multi-State
Control #:
US-OL706A
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Word; 
PDF
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Description

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 Kansas Remeasurement Clause is a legal provision used in real estate contracts when there are discrepancies or variations between the rentable area and the actual area of a space being constructed. This clause provides a mechanism for accurately determining the square footage or dimensions of the space to ensure fair and proper lease agreements. It helps protect both landlords and tenants from misunderstanding or disputes regarding the space's true size and rental value. When variances exist between the rentable and actual area of a space to be built in Kansas, there are two main types of remeasurement clauses that can be used: 1. Gross Rentable Area (GRA) Remeasurement Clause: This type of clause focuses on the overall rentable area of the space, including both usable and common areas such as corridors, lobbies, restrooms, and shared facilities. In the event of variances, the GRA remeasurement clause allows for reassessment and adjustment of the rentable area to ensure an accurate rental rate calculation for the tenant. 2. Net Rentable Area (NRA) Remeasurement Clause: Unlike the GRA clause, the NRA remeasurement clause considers only the usable or leasable areas within a space, excluding common areas. It aims to provide tenants with an accurate understanding of the space they are renting, without including shared facilities that may be used by multiple tenants. When discrepancies arise, this type of clause allows for reassessment and adjustments to the net rentable area to establish the appropriate rental terms. These remeasurement clauses are usually included in commercial lease agreements and construction contracts. They help avoid conflicts and ensure both parties involved have a clear understanding of the space's exact size. It is important for landlords and tenants to carefully review and negotiate these clauses to prevent any misunderstandings or disputes related to the rentable and actual area of a space being built in Kansas.

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FAQ

Your usable square footage is the actual area of your space as measured within the demising exterior walls of your suite. If you have a 200-foot by 200-foot rectangular space, you would multiply the 200 feet of length by the 200 feet of width to come up with 40,000 usable square feet.

When the lessee breaches the lease, it gives the lessor the right to proceed with: actual eviction by filling a suit for possession.

Use Clauses This clause defines how the tenant can and can't use the property they're leasing. The use clause may be very specific, so it's important that you read its terms carefully.

Loss factor is defined as the percentage difference between rentable space and usable space. Loss factor is calculated as rentable square footage minus usable square footage divided by rentable square footage.

BOMA coefficient, or common areas ratio The BOMA standard is used to take into account the ratios of the total area of ??the building and the useful area used only by the tenant. Basically, its value is in the range from 1.07 to 1.2.

The portion of common space attributed to a specific tenant is calculated by taking their pro-rata share of the building's total square footage. For example, if a tenant leases 10,000 square feet in a 100,000-square-foot building, 10% of the building's common space will be attributed to that tenant.

The CAF is found by comparing the total usable square footage of all common areas in a building versus the overall usable square footage of the building. For example, if a 100,000 SF building determines that 18,450 SF is common area then that building would have a CAF of 18.45%.

What Are Lease Clauses? A lease clause is a specific part of a contract or rental agreement between the landlord and tenant. These clauses need to be compliant with local state laws and other agreements between the two parties.

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More info

Landlord and Tenant hereby acknowledge and agree that the Premises have been remeasured and that, notwithstanding any contrary provision contained in the Lease ... In any event, if the rentable square footage of the Premises or Building is different than that set forth in this Lease, the Base Rent, Tenant's Percentage ...Apr 8, 2020 — Remeasurement provisions are commonly used in construction and engineering contracts where there is uncertainty as to the quantity of work ... B. FSG has assigned to Landlord FSG's entire right, title and interest in and to the Properties. C. Closing under the Purchase Agreement has occurred ... Landlord and Tenant agree and acknowledge that Landlord is not responsible for the construction of any initial improvements in the Premises. Landlord is ... ... Kansas Incomes for your use case and prepare them without juridical assistance ... Download printable and editable forms in PDF or Word format for Nov 18, 2020 — For new leases, we recommend inserting a clause in the lease that states that the rentable square footage of the premises will not increase at ... Jun 29, 2023 — The BOE determines whether an error in valuation occurred regarding annual CBJ property assessments. If the BOE determines there was an ... May 8, 2001 — Documents are on file for public inspection in the Office of the ... space, OAs state that the shell rent is re-marked to market every five. Aug 29, 2017 — ... space within Suite 104 and represents the total rentable area. All ... provision of this Lease should any variance be found to exist between.

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