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.
Miami-Dade Florida Gross up Clause in an Expense Stop Stipulated Base or Office Net Lease is a provision that helps landlords account for increases in operating expenses related to the property. This clause ensures that the tenant's share of expenses remains consistent even if the overall expenses of the property increase. The purpose of the Miami-Dade Florida Gross up Clause is to prevent the tenant from being unfairly burdened with additional expenses due to changes in the property's operating costs. It helps maintain fairness, as the tenant pays a consistent share of expenses even if the property's overall expenses rise. There are different types of Miami-Dade Florida Gross up Clauses that could be used in an Expense Stop Stipulated Base or Office Net Lease: 1. Full Expense Gross up Clause: With this type of clause, the landlord is allowed to adjust the tenant's share of expenses based on a predetermined standard. This ensures that the tenant's expenses are proportionate to the overall expenses of the property. 2. Proportional Expense Gross up Clause: In this clause, the landlord can adjust the tenant's share of expenses based on the percentage increase in operating costs. The tenant's share is thus directly tied to the increase in expenses incurred by the property. 3. Expense Stop Gross up Clause: An expense stop is a predetermined limit on the annual operating expenses that the tenant is responsible for paying. If the expenses exceed the expense stop, the landlord can implement the gross up clause to adjust the tenant's share accordingly. 4. Operating Expense Gross up Clause: This clause allows the landlord to adjust the tenant's share of operating expenses to account for any extraordinary or unforeseen costs related to the property. These expenses could include major repairs, renovations, or unforeseen increases in property taxes. Ultimately, the Miami-Dade Florida Gross up Clause in an Expense Stop Stipulated Base or Office Net Lease aims to provide a fair and consistent allocation of expenses between the landlord and tenant. It ensures that changes in operating costs do not unduly burden either party and helps maintain transparency and efficiency in lease agreements within Miami-Dade County.Miami-Dade Florida Gross up Clause in an Expense Stop Stipulated Base or Office Net Lease is a provision that helps landlords account for increases in operating expenses related to the property. This clause ensures that the tenant's share of expenses remains consistent even if the overall expenses of the property increase. The purpose of the Miami-Dade Florida Gross up Clause is to prevent the tenant from being unfairly burdened with additional expenses due to changes in the property's operating costs. It helps maintain fairness, as the tenant pays a consistent share of expenses even if the property's overall expenses rise. There are different types of Miami-Dade Florida Gross up Clauses that could be used in an Expense Stop Stipulated Base or Office Net Lease: 1. Full Expense Gross up Clause: With this type of clause, the landlord is allowed to adjust the tenant's share of expenses based on a predetermined standard. This ensures that the tenant's expenses are proportionate to the overall expenses of the property. 2. Proportional Expense Gross up Clause: In this clause, the landlord can adjust the tenant's share of expenses based on the percentage increase in operating costs. The tenant's share is thus directly tied to the increase in expenses incurred by the property. 3. Expense Stop Gross up Clause: An expense stop is a predetermined limit on the annual operating expenses that the tenant is responsible for paying. If the expenses exceed the expense stop, the landlord can implement the gross up clause to adjust the tenant's share accordingly. 4. Operating Expense Gross up Clause: This clause allows the landlord to adjust the tenant's share of operating expenses to account for any extraordinary or unforeseen costs related to the property. These expenses could include major repairs, renovations, or unforeseen increases in property taxes. Ultimately, the Miami-Dade Florida Gross up Clause in an Expense Stop Stipulated Base or Office Net Lease aims to provide a fair and consistent allocation of expenses between the landlord and tenant. It ensures that changes in operating costs do not unduly burden either party and helps maintain transparency and efficiency in lease agreements within Miami-Dade County.
