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 Tennessee Remeasurement Clause is a legal provision used to address discrepancies between the rentable and actual area of a space that is being constructed. This clause is essential in commercial leasing agreements where rent is determined based on the square footage of the property. When variances in size exist between the rentable area specified in the lease agreement and the actual area of the space, the Remeasurement Clause allows for adjustments to be made to ensure fair rent calculations. The Tennessee Remeasurement Clause is typically included in commercial lease agreements to protect both landlords and tenants from potential disputes arising from discrepancies in the actual size of the leased space. This clause ensures that the rentable area specified in the lease accurately reflects the usable space in the property. If the actual area differs from the agreed rentable area, the Remeasurement Clause provides a mechanism for adjusting the rental obligations accordingly. There are different types of Tennessee Remeasurement Clauses used to address variances in space measurements. These clauses can be broadly categorized into two types: Tenant-Favorable and Landlord-Favorable clauses. Tenant-Favorable Remeasurement Clauses: 1. Tenant has the Right to Remeasure: In this type of clause, the tenant reserves the right to remeasure the leased space and adjust the rent accordingly if the actual area is found to be smaller than the rentable area specified in the lease. 2. Payment Reduction: This clause provides the tenant with the option to request a reduction in rent if the actual area is smaller than the rentable area. The reduction is typically calculated based on the percentage difference between the actual and rentable areas. Landlord-Favorable Remeasurement Clauses: 1. No Remeasurement Provision: Some lease agreements may include a clause that explicitly states that rent adjustments will not be made based on measurement discrepancies, putting the burden on the tenant to verify the measurements before signing the lease. 2. Measurement by a Third Party: In certain cases, the lease agreement may specify that a mutually agreed-upon third party will be responsible for remeasuring the space. This clause ensures an unbiased measurement and resolves any potential disputes between the tenant and landlord regarding the space's size. It's important for both landlords and tenants to clearly understand the specific Remeasurement Clause included in their lease agreement. Consulting with a skilled real estate attorney can help ensure that the clause is fair and protects the interests of both parties.The Tennessee Remeasurement Clause is a legal provision used to address discrepancies between the rentable and actual area of a space that is being constructed. This clause is essential in commercial leasing agreements where rent is determined based on the square footage of the property. When variances in size exist between the rentable area specified in the lease agreement and the actual area of the space, the Remeasurement Clause allows for adjustments to be made to ensure fair rent calculations. The Tennessee Remeasurement Clause is typically included in commercial lease agreements to protect both landlords and tenants from potential disputes arising from discrepancies in the actual size of the leased space. This clause ensures that the rentable area specified in the lease accurately reflects the usable space in the property. If the actual area differs from the agreed rentable area, the Remeasurement Clause provides a mechanism for adjusting the rental obligations accordingly. There are different types of Tennessee Remeasurement Clauses used to address variances in space measurements. These clauses can be broadly categorized into two types: Tenant-Favorable and Landlord-Favorable clauses. Tenant-Favorable Remeasurement Clauses: 1. Tenant has the Right to Remeasure: In this type of clause, the tenant reserves the right to remeasure the leased space and adjust the rent accordingly if the actual area is found to be smaller than the rentable area specified in the lease. 2. Payment Reduction: This clause provides the tenant with the option to request a reduction in rent if the actual area is smaller than the rentable area. The reduction is typically calculated based on the percentage difference between the actual and rentable areas. Landlord-Favorable Remeasurement Clauses: 1. No Remeasurement Provision: Some lease agreements may include a clause that explicitly states that rent adjustments will not be made based on measurement discrepancies, putting the burden on the tenant to verify the measurements before signing the lease. 2. Measurement by a Third Party: In certain cases, the lease agreement may specify that a mutually agreed-upon third party will be responsible for remeasuring the space. This clause ensures an unbiased measurement and resolves any potential disputes between the tenant and landlord regarding the space's size. It's important for both landlords and tenants to clearly understand the specific Remeasurement Clause included in their lease agreement. Consulting with a skilled real estate attorney can help ensure that the clause is fair and protects the interests of both parties.
