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.
Fairfax Virginia Remeasurement Clause Used When Variances Exist Between the Rentable and Actual Area of a Space to be Built In Fairfax, Virginia, the Remeasurement Clause is a key component in commercial lease agreements when there are discrepancies between the rentable and actual area of a space to be constructed. This clause helps ensure fairness and accuracy in determining the appropriate rent and lease terms for tenants and landlords alike. The purpose of the Remeasurement Clause is to provide a mechanism for adjusting the rent and lease provisions when there are variations between the agreed-upon rentable area and the actual area of a space after construction. This serves to protect both parties from any potential financial imbalances that can arise due to inaccurate measurements or changes during the construction process. When it comes to Fairfax, Virginia, there are different types of Remeasurement Clauses used to address variances between rentable and actual area. These clauses may include: 1. Remeasurement Based on ANSI/BOMB Standards: This clause employs the widely accepted American National Standards Institute/Building Owners and Managers Association (ANSI/BOMB) standards for measuring the rentable area. If a space's actual area deviates from the agreed-upon rentable area, the clause allows for a remeasurement following these industry-standard guidelines. 2. Remeasurement by a Qualified Third Party: This type of remeasurement clause involves hiring a qualified third-party professional, such as a licensed surveyor or architect, to measure the actual area of the space. If there are significant variations, the rent and lease provisions can be adjusted accordingly. 3. Remeasurement Triggered by a Predefined Threshold: Some Remeasurement Clauses may include a threshold, such as a percentage or a specific square footage difference, which, if exceeded, triggers a remeasurement process. If the variation surpasses the predefined threshold, the rent and lease terms can be recalculated. 4. Remeasurement by Agreement: In certain cases, a Remeasurement Clause may state that both parties agree to voluntarily remeasure the space if variances are suspected or discovered. This collaborative approach allows for negotiating fair rent adjustments based on the actual area. It is important for commercial tenants and landlords in Fairfax, Virginia, to carefully review and understand the Remeasurement Clause in their lease agreements. By incorporating these specific clauses, both parties can address any potential discrepancies between rentable and actual area, ensuring transparency, accuracy, and fairness in their leasing arrangements.Fairfax Virginia Remeasurement Clause Used When Variances Exist Between the Rentable and Actual Area of a Space to be Built In Fairfax, Virginia, the Remeasurement Clause is a key component in commercial lease agreements when there are discrepancies between the rentable and actual area of a space to be constructed. This clause helps ensure fairness and accuracy in determining the appropriate rent and lease terms for tenants and landlords alike. The purpose of the Remeasurement Clause is to provide a mechanism for adjusting the rent and lease provisions when there are variations between the agreed-upon rentable area and the actual area of a space after construction. This serves to protect both parties from any potential financial imbalances that can arise due to inaccurate measurements or changes during the construction process. When it comes to Fairfax, Virginia, there are different types of Remeasurement Clauses used to address variances between rentable and actual area. These clauses may include: 1. Remeasurement Based on ANSI/BOMB Standards: This clause employs the widely accepted American National Standards Institute/Building Owners and Managers Association (ANSI/BOMB) standards for measuring the rentable area. If a space's actual area deviates from the agreed-upon rentable area, the clause allows for a remeasurement following these industry-standard guidelines. 2. Remeasurement by a Qualified Third Party: This type of remeasurement clause involves hiring a qualified third-party professional, such as a licensed surveyor or architect, to measure the actual area of the space. If there are significant variations, the rent and lease provisions can be adjusted accordingly. 3. Remeasurement Triggered by a Predefined Threshold: Some Remeasurement Clauses may include a threshold, such as a percentage or a specific square footage difference, which, if exceeded, triggers a remeasurement process. If the variation surpasses the predefined threshold, the rent and lease terms can be recalculated. 4. Remeasurement by Agreement: In certain cases, a Remeasurement Clause may state that both parties agree to voluntarily remeasure the space if variances are suspected or discovered. This collaborative approach allows for negotiating fair rent adjustments based on the actual area. It is important for commercial tenants and landlords in Fairfax, Virginia, to carefully review and understand the Remeasurement Clause in their lease agreements. By incorporating these specific clauses, both parties can address any potential discrepancies between rentable and actual area, ensuring transparency, accuracy, and fairness in their leasing arrangements.
