This office lease clause states the conditions under which the landlord can and can not furnish any particular item(s) of work or service which would constitute an expense to portions of the Building during the comparative year.
Oklahoma Clause for Grossing Up the Tenant Proportionate Share
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US-OL709
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How to fill out Clause For Grossing Up The Tenant Proportionate Share?
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FAQ
How do landlords calculate the ?proportionate share?? Ordinarily, this is calculated based on the relative square footage occupied by each tenant. That makes sense for fixed costs such as taxes, insurance and common area utility costs.
The only case in which a tenant may withhold rent in Oklahoma is under the repair and deduct statute. This takes effect if the landlord fails to make necessary repairs and then the tenant may pay for the repairs and deduct the cost from their next rent payment.
The pro-rata share is the percentage of expenses shared by the tenant for the shopping center or office building. In most leases, the pro-rata share is calculated as a fraction of the tenant's demised square footage divided by the total square footage of the shopping center or the building.
Lessee's Proportion means the proportion that the net lettable are of the Premises bears to the net lettable area of the Building, being the percentage in item 16 of the Reference Schedule (or any other corrected or recalculated percentage notified in writing by the Lessor to the Lessee from time to time).
For a month-to-month rental, the landlord can end the lease with a thirty day notice. For week-to-week rentals, the landlord can end the lease with a seven day notice. If a tenant does not pay his or her rent, then the landlord may offer a 5 day grace period before beginning the eviction process.
Also known as tenant's pro rata share. The portion of a building occupied by the tenant expressed as a percentage. When a tenant is responsible for paying its proportionate share of the landlord's costs for the building, such as operating expenses and real estate taxes, the tenant pays this amount over a base year.
Proportionate Share of Operating Expenses means a fraction equal to the total Gross Rentable Area of the Premises divided by the total Gross Rentable Area of the Building.
