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 Mississippi Remeasurement Clause is a crucial element in commercial lease agreements, particularly when there are variations between the rentable and actual area of a space to be built. This clause protects both landlords and tenants by establishing guidelines for accurately determining the rentable area and ensuring fair rental payments. When discrepancies exist between the rentable and actual area, the Mississippi Remeasurement Clause serves as a mechanism to resolve any potential disputes that may arise. It outlines a method for remeasuring the space, taking into account various factors such as common areas, hallways, stairwells, and other shared spaces that contribute to the overall rentable area of the premises. There are several types of remeasurement clauses used in Mississippi lease agreements. These include: 1. Measurement According to BOMB (Building Owners and Managers Association) Standards: This type of clause bases the determination of the rentable area on the guidelines set forth by BOMB. These standards provide specific methodologies for measuring various property types, taking into account both useable and common areas. 2. Remeasurement Triggered by Actual Construction: In certain cases, the remeasurement clause is only activated if substantial construction or alterations occur within the premises during the lease term. This ensures that any modifications made to the space are accounted for accurately and fairly. 3. Percentage Variance-Based Rem measurement: This type of clause utilizes a predetermined threshold or percentage variance to trigger a remeasurement. For example, if the variation between the rentable and actual area exceeds a specified percentage, the remeasurement process will be initiated to determine the correct rental calculations. The Mississippi Remeasurement Clause is essential to maintain transparency and fairness in commercial leasing transactions. By incorporating one of these types of clauses, both landlords and tenants can avoid disputes over rental calculations and ensure that the agreed-upon rent is based on an accurate measurement of the rentable area.The Mississippi Remeasurement Clause is a crucial element in commercial lease agreements, particularly when there are variations between the rentable and actual area of a space to be built. This clause protects both landlords and tenants by establishing guidelines for accurately determining the rentable area and ensuring fair rental payments. When discrepancies exist between the rentable and actual area, the Mississippi Remeasurement Clause serves as a mechanism to resolve any potential disputes that may arise. It outlines a method for remeasuring the space, taking into account various factors such as common areas, hallways, stairwells, and other shared spaces that contribute to the overall rentable area of the premises. There are several types of remeasurement clauses used in Mississippi lease agreements. These include: 1. Measurement According to BOMB (Building Owners and Managers Association) Standards: This type of clause bases the determination of the rentable area on the guidelines set forth by BOMB. These standards provide specific methodologies for measuring various property types, taking into account both useable and common areas. 2. Remeasurement Triggered by Actual Construction: In certain cases, the remeasurement clause is only activated if substantial construction or alterations occur within the premises during the lease term. This ensures that any modifications made to the space are accounted for accurately and fairly. 3. Percentage Variance-Based Rem measurement: This type of clause utilizes a predetermined threshold or percentage variance to trigger a remeasurement. For example, if the variation between the rentable and actual area exceeds a specified percentage, the remeasurement process will be initiated to determine the correct rental calculations. The Mississippi Remeasurement Clause is essential to maintain transparency and fairness in commercial leasing transactions. By incorporating one of these types of clauses, both landlords and tenants can avoid disputes over rental calculations and ensure that the agreed-upon rent is based on an accurate measurement of the rentable area.
