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 West Virginia Remeasurement Clause is a legal provision used to address discrepancies between the rentable and actual area of a space to be built. More specifically, it applies when there are variances found in the measurement of a property's rentable area compared to its actual area. The purpose of the West Virginia Remeasurement Clause is to ensure fairness and accuracy in determining the rentable space for which tenants are responsible. It aims to prevent any unfair advantage or disadvantage that may result from inaccurate measurements. This clause typically appears in commercial lease agreements and is essential for both landlords and tenants. It helps to establish a standard measurement methodology and provides guidelines for handling any discrepancies that may arise. Different types of West Virginia Remeasurement Clauses used when variances exist between the rentable and actual area of a space to be built may include: 1. Exact Measurement Clause: This type of clause states that the rentable area will be calculated based on the exact measurements of the space, leaving no room for interpretation or further adjustments. 2. Permitted Variances Clause: This clause allows for a predetermined percentage of variance between the rentable and actual area. For example, it may mention that a 5% variance is acceptable, meaning the rentable area can deviate by up to 5% from the actual area. 3. Dispute Resolution Clause: In case of any discrepancies or disagreements related to the measurement of the rentable area, this clause outlines a procedure for resolving disputes. It may suggest methods such as arbitration or third-party measurement professionals to provide an unbiased assessment. 4. Right of Recalculation Clause: This clause provides the landlord or tenant with the right to request a recalculation of the rentable area in case they suspect significant inaccuracies or changes in the space during the lease term. It is important for both parties to carefully review and negotiate the terms of the West Virginia Remeasurement Clause before signing a lease agreement. In doing so, they can ensure fairness, transparency, and a clear understanding of how rentable areas will be determined in the context of the property being built.The West Virginia Remeasurement Clause is a legal provision used to address discrepancies between the rentable and actual area of a space to be built. More specifically, it applies when there are variances found in the measurement of a property's rentable area compared to its actual area. The purpose of the West Virginia Remeasurement Clause is to ensure fairness and accuracy in determining the rentable space for which tenants are responsible. It aims to prevent any unfair advantage or disadvantage that may result from inaccurate measurements. This clause typically appears in commercial lease agreements and is essential for both landlords and tenants. It helps to establish a standard measurement methodology and provides guidelines for handling any discrepancies that may arise. Different types of West Virginia Remeasurement Clauses used when variances exist between the rentable and actual area of a space to be built may include: 1. Exact Measurement Clause: This type of clause states that the rentable area will be calculated based on the exact measurements of the space, leaving no room for interpretation or further adjustments. 2. Permitted Variances Clause: This clause allows for a predetermined percentage of variance between the rentable and actual area. For example, it may mention that a 5% variance is acceptable, meaning the rentable area can deviate by up to 5% from the actual area. 3. Dispute Resolution Clause: In case of any discrepancies or disagreements related to the measurement of the rentable area, this clause outlines a procedure for resolving disputes. It may suggest methods such as arbitration or third-party measurement professionals to provide an unbiased assessment. 4. Right of Recalculation Clause: This clause provides the landlord or tenant with the right to request a recalculation of the rentable area in case they suspect significant inaccuracies or changes in the space during the lease term. It is important for both parties to carefully review and negotiate the terms of the West Virginia Remeasurement Clause before signing a lease agreement. In doing so, they can ensure fairness, transparency, and a clear understanding of how rentable areas will be determined in the context of the property being built.
