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.
Houston, Texas is a thriving city known for its diverse economy, vibrant culture, and impressive skyline. When it comes to real estate, particularly in commercial leases, the concept of a Remeasurement Clause becomes crucial to ensure fairness between the rentable and actual area of a space to be built. The Remeasurement Clause in Houston, Texas is used when there are disparities or variances between the rentable area (the area on which rent is based) and the actual area of a space. This clause provides a mechanism to reevaluate the rent and adjust it accordingly, ensuring that both the tenant and the landlord are treated fairly. There are several types of Remeasurement Clauses commonly used in Houston, Texas, depending on the specific circumstances and requirements. These include: 1. Area-In-Place Remeasurement Clause: This type of clause allows for the remeasurement of the actual area of a space once it has been constructed or built. It takes into account any variations or deviations from the initially estimated or projected dimensions. The rent is then adjusted based on the revised area. 2. Shell Remeasurement Clause: Sometimes, tenants may lease a space that is still under construction, commonly known as a "she'll space." In this case, a Shell Remeasurement Clause is employed. This clause allows for the final remeasurement of the space after the completion of the build-out or tenant improvements. The rent is then recalculated based on the newly determined area. 3. Tenant-Initiated Remeasurement Clause: This type of clause grants the tenant the right to request a remeasurement of the space when they suspect a significant variance between the rentable and actual area. Upon approval, a professional surveyor is typically hired to accurately measure and assess the space. If a substantial discrepancy is discovered, the rent is adjusted accordingly. The purpose of these Houston, Texas Remeasurement Clauses is to ensure transparency, fairness, and accuracy in commercial lease agreements. By accounting for any variations in the rentable and actual area, these clauses help protect both tenants and landlords from unforeseen costs or discrepancies. It is crucial for both parties to carefully review and negotiate the terms of the Remeasurement Clause to avoid any potential conflicts or misunderstandings in the future.Houston, Texas is a thriving city known for its diverse economy, vibrant culture, and impressive skyline. When it comes to real estate, particularly in commercial leases, the concept of a Remeasurement Clause becomes crucial to ensure fairness between the rentable and actual area of a space to be built. The Remeasurement Clause in Houston, Texas is used when there are disparities or variances between the rentable area (the area on which rent is based) and the actual area of a space. This clause provides a mechanism to reevaluate the rent and adjust it accordingly, ensuring that both the tenant and the landlord are treated fairly. There are several types of Remeasurement Clauses commonly used in Houston, Texas, depending on the specific circumstances and requirements. These include: 1. Area-In-Place Remeasurement Clause: This type of clause allows for the remeasurement of the actual area of a space once it has been constructed or built. It takes into account any variations or deviations from the initially estimated or projected dimensions. The rent is then adjusted based on the revised area. 2. Shell Remeasurement Clause: Sometimes, tenants may lease a space that is still under construction, commonly known as a "she'll space." In this case, a Shell Remeasurement Clause is employed. This clause allows for the final remeasurement of the space after the completion of the build-out or tenant improvements. The rent is then recalculated based on the newly determined area. 3. Tenant-Initiated Remeasurement Clause: This type of clause grants the tenant the right to request a remeasurement of the space when they suspect a significant variance between the rentable and actual area. Upon approval, a professional surveyor is typically hired to accurately measure and assess the space. If a substantial discrepancy is discovered, the rent is adjusted accordingly. The purpose of these Houston, Texas Remeasurement Clauses is to ensure transparency, fairness, and accuracy in commercial lease agreements. By accounting for any variations in the rentable and actual area, these clauses help protect both tenants and landlords from unforeseen costs or discrepancies. It is crucial for both parties to carefully review and negotiate the terms of the Remeasurement Clause to avoid any potential conflicts or misunderstandings in the future.
