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.
The Cuyahoga Ohio Gross Up Clause refers to a provision that should be included in an expense stop stipulated base or office net lease in Cuyahoga County, Ohio. This clause ensures that the tenant is only responsible for a certain portion of the operating expenses of the leased property, rather than the entire amount. There are different types of Cuyahoga Ohio Gross Up Clause that should be considered for inclusion in the lease agreement. Here are a few common ones: 1. Expense Stop Gross Up: This type of clause allows the landlord to set a threshold or expense stop, beyond which the tenant is not responsible for any additional operating expenses. For example, if the expense stop is set at $50,000, the tenant will only be responsible for operating expenses up to that amount, while any costs exceeding it will be absorbed by the landlord. 2. Pro Rata Share Gross Up: In this case, the operating expenses are divided among all the tenants in the building based on their pro rata share, which is determined by the size or proportion of their leased space. The Cuyahoga Ohio Gross Up Clause would ensure that each tenant contributes their fair share and is not burdened with additional expenses. 3. Operating Expense Gross Up: With this clause, the operating expenses are grossed up to account for any occupancy or vacancy variations throughout the lease term. This means that if there are vacant spaces in the building, the landlord will bear the additional expenses by increasing the operating expenses allocated to the tenant. 4. CPI Gross Up: This type of gross up clause allows for adjustments to be made based on changes in the Consumer Price Index (CPI). The tenant's share of operating expenses can be adjusted annually to reflect the percentage increase or decrease in the CPI. This ensures that tenants are not unfairly burdened with rising costs due to inflation. Including a Cuyahoga Ohio Gross Up Clause in an expense stop stipulated base or office net lease is crucial for both landlords and tenants. It provides a fair and transparent framework for allocating operating expenses and prevents any unforeseen financial burdens.The Cuyahoga Ohio Gross Up Clause refers to a provision that should be included in an expense stop stipulated base or office net lease in Cuyahoga County, Ohio. This clause ensures that the tenant is only responsible for a certain portion of the operating expenses of the leased property, rather than the entire amount. There are different types of Cuyahoga Ohio Gross Up Clause that should be considered for inclusion in the lease agreement. Here are a few common ones: 1. Expense Stop Gross Up: This type of clause allows the landlord to set a threshold or expense stop, beyond which the tenant is not responsible for any additional operating expenses. For example, if the expense stop is set at $50,000, the tenant will only be responsible for operating expenses up to that amount, while any costs exceeding it will be absorbed by the landlord. 2. Pro Rata Share Gross Up: In this case, the operating expenses are divided among all the tenants in the building based on their pro rata share, which is determined by the size or proportion of their leased space. The Cuyahoga Ohio Gross Up Clause would ensure that each tenant contributes their fair share and is not burdened with additional expenses. 3. Operating Expense Gross Up: With this clause, the operating expenses are grossed up to account for any occupancy or vacancy variations throughout the lease term. This means that if there are vacant spaces in the building, the landlord will bear the additional expenses by increasing the operating expenses allocated to the tenant. 4. CPI Gross Up: This type of gross up clause allows for adjustments to be made based on changes in the Consumer Price Index (CPI). The tenant's share of operating expenses can be adjusted annually to reflect the percentage increase or decrease in the CPI. This ensures that tenants are not unfairly burdened with rising costs due to inflation. Including a Cuyahoga Ohio Gross Up Clause in an expense stop stipulated base or office net lease is crucial for both landlords and tenants. It provides a fair and transparent framework for allocating operating expenses and prevents any unforeseen financial burdens.
