US Legal Forms
Localized Forms
Florida
Broward
Gross up Clause that Should be Used in an Expense Stop Stipulated...

Broward Florida Gross up Clause that Should be Used in an Expense Stop Stipulated Base or Office Net Lease

Name: Broward Florida Gross up Clause that Should be Used in an Expense Stop Stipulated Base or Office Net Lease
Brand: US Legal Forms
Rating: 4.82 (206 reviews)

Category:

Landlord Tenant - Commercial Leases

State:

Multi-State

County:

Broward

Control #:

US-OL19034IB

Format:

Instant download

Description

This office lease clause should be used in an expense stop, stipulated base or office net lease. When the building is not at least 95% occupied during all or a portion of any lease year, the landlord shall make an appropriate adjustment for each lease year to determine what the building operating costs. Such an adjustment shall be made by the landlord increasing the variable components of such variable costs included in the building operating costs which vary based on the level of occupancy of the building.

How to fill out Broward Florida Gross Up Clause That Should Be Used In An Expense Stop Stipulated Base Or Office Net Lease?

Preparing legal documentation can be difficult. In addition, if you decide to ask a legal professional to write a commercial agreement, documents for proprietorship transfer, pre-marital agreement, divorce paperwork, or the Broward Gross up Clause that Should be Used in an Expense Stop Stipulated Base or Office Net Lease, it may cost you a lot of money. So what is the best way to save time and money and draft legitimate documents in total compliance with your state and local regulations? US Legal Forms is a perfect solution, whether you're searching for templates for your personal or business needs.

US Legal Forms is largest online collection of state-specific legal documents, providing users with the up-to-date and professionally checked templates for any scenario accumulated all in one place. Therefore, if you need the recent version of the Broward Gross up Clause that Should be Used in an Expense Stop Stipulated Base or Office Net Lease, you can easily find it on our platform. Obtaining the papers requires a minimum of time. Those who already have an account should check their subscription to be valid, log in, and select the sample with the Download button. If you haven't subscribed yet, here's how you can get the Broward Gross up Clause that Should be Used in an Expense Stop Stipulated Base or Office Net Lease:

Look through the page and verify there is a sample for your area.
Examine the form description and use the Preview option, if available, to ensure it's the sample you need.
Don't worry if the form doesn't satisfy your requirements - look for the right one in the header.
Click Buy Now when you find the required sample and choose the best suitable subscription.
Log in or sign up for an account to purchase your subscription.
Make a transaction with a credit card or through PayPal.
Opt for the file format for your Broward Gross up Clause that Should be Used in an Expense Stop Stipulated Base or Office Net Lease and save it.

Once done, you can print it out and complete it on paper or upload the template to an online editor for a faster and more practical fill-out. US Legal Forms enables you to use all the paperwork ever obtained many times - you can find your templates in the My Forms tab in your profile. Give it a try now!

Form Rating

4.82

Satisfied(206)

Form popularity

FAQ

A base year is the first of a series of years in an economic or financial index. It is typically set to an arbitrary level of 100. New, up-to-date base years are periodically introduced to keep data current in a particular index. Any year can serve as a base year, but analysts typically choose recent years.

Expense stops. when the tenant pays increases in operating expenses.

Expense categories that are typically grossed up include cleaning (tenant-occupied areas only), utilities, management fees, and possibly (but not always) other costs such as trash removal, building personnel costs, electrical supplies and elevator main- tenance, all depending upon the relevant circumstances.

A mechanism in a Full Service Gross Lease, the Expense Stop is a fixed amount of operating expense above which the tenant is responsible to pay. Thus, the landlord is responsible to pay for all operating expenses below the Expense Stop, while the tenant is responsible for any amount above the Expense Stop.

Upon lease commencement, the building owner will agree to pay the tenant's first year expenses (a.k.a. base year expenses) and will continue to pay the same amount in each of the subsequent years while the tenant will pay any additional costs above the amount realized in the base year.

An expense stop is a contractual provision that protects the property owner from rising expenses over the lease term. In such a case, the property owner typically agrees to pay all of the operating expenses in the first year of the lease, this is known as the base year amount and it sets the expense stop.

- Gross lease (sometimes referred to as fully gross). With a Net lease, a tenant is responsible for rent, plus all outgoings in addition to this rent. In the case of the Gross lease, all outgoings are included in the rent.

'Make good' refers to the clause/s in a lease that set out how a tenant should leave a property at the end of the lease term. Basically, when the day comes to hand back the keys to the landlord, the property should be in the condition that is stipulated in the lease.

So, what is a gross-up provision? Simply stated, the concept of gross up provision stipulates that if a building has significant vacancy, the landlord can estimate what the variable operating expense would have been had the building been fully occupied, and charge the tenants their pro-rata share of that cost.

Commercial leases will often have a provision in the lease that permits the landlord to gross up, or overstate the variable operating expenses of the property to the level of operating expenses that would have been incurred had the building been fully occupied for the year.

Interesting Questions

More info

The verdict, your foreperson must fill in the form, sign it and date it. B. Section 504 Loans.Used in the FY 2021-22 State Revenue-Sharing Calculations. From 2005 to2007 and as its Chief Executive Officer from 2005 to 2006.

Broward Florida Gross up Clause that Should be Used in an Expense Stop Stipulated Base or Office Net Lease

Description

Related forms

How to fill out Broward Florida Gross Up Clause That Should Be Used In An Expense Stop Stipulated Base Or Office Net Lease?

Show more info

Form Rating

Form popularity

FAQ

What does a base year mean?

What's an expense stop as used in leases quizlet?

What expenses are typically grossed up?

What is an expense stop clause?

What is a base stop?

What is an expense stop provision?

What is a gross plus lease?

What is a make good clause in a lease?

How does gross-up clause work?

What is a gross-up clause in a lease?

Interesting Questions

What is a Broward Gross up Clause?

How does the Broward Gross up Clause work?

What are operating expenses?

Why is the Broward Gross up Clause important for landlords?

Can a Broward Gross up Clause increase my monthly rent?

Is there any limit to how much the Broward Gross up Clause can increase my rent?

More info

Trusted and secure by over 3 million people of the world’s leading companies