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.
San Antonio, Texas is a vibrant city known for its rich history, diverse culture, and bustling economy. As part of the real estate industry, it is essential to understand key concepts such as the "Remeasurement Clause" used when variances exist between the rentable and actual area of a space to be built. This clause plays a crucial role in ensuring fair and accurate lease agreements between landlords and tenants. The Remeasurement Clause is commonly employed when there are discrepancies between the initially estimated rentable area and the actual measurement of a space after construction or renovation. It allows for a reevaluation of the rental rate based on the actual space size. This clause protects both parties involved as it ensures that tenants only pay for the space they will utilize and landlords receive fair compensation for the actual area provided. There are different types of Remeasurement Clauses often encountered in lease agreements in San Antonio, Texas. Some of these include: 1. Remeasurement at the Tenant's Request: This type of clause enables a tenant to request a remeasurement of the rentable area once construction or renovation is complete. If the actual area differs significantly from the originally estimated area, a rent adjustment may occur. 2. Remeasurement at Regular Intervals: In some cases, lease agreements stipulate that remeasurement will take place at regular intervals, such as every five or ten years. This ensures that the rental rate accurately reflects the current market value and real area of the space, preventing disputes in the future. 3. Remeasurement Due to Changes in Building Codes: When there are alterations to building codes or regulations during the lease term, a remeasurement clause may be triggered. If these changes result in modifications to the rentable area, the rental rate can be adjusted accordingly. 4. Remeasurement in Response to Structural Changes: If structural modifications are made to the building during the lease term, such as demolitions or additions, the rentable area may be affected. A remeasurement clause allows for recalculating the rental rate based on the new space size. Overall, the Remeasurement Clause serves as a safeguard against inaccuracies, ensuring fair dealings between landlords and tenants in San Antonio, Texas. By addressing any variances between the rentable and actual area of a space to be built, this clause helps establish a transparent and mutually beneficial leasing environment.San Antonio, Texas is a vibrant city known for its rich history, diverse culture, and bustling economy. As part of the real estate industry, it is essential to understand key concepts such as the "Remeasurement Clause" used when variances exist between the rentable and actual area of a space to be built. This clause plays a crucial role in ensuring fair and accurate lease agreements between landlords and tenants. The Remeasurement Clause is commonly employed when there are discrepancies between the initially estimated rentable area and the actual measurement of a space after construction or renovation. It allows for a reevaluation of the rental rate based on the actual space size. This clause protects both parties involved as it ensures that tenants only pay for the space they will utilize and landlords receive fair compensation for the actual area provided. There are different types of Remeasurement Clauses often encountered in lease agreements in San Antonio, Texas. Some of these include: 1. Remeasurement at the Tenant's Request: This type of clause enables a tenant to request a remeasurement of the rentable area once construction or renovation is complete. If the actual area differs significantly from the originally estimated area, a rent adjustment may occur. 2. Remeasurement at Regular Intervals: In some cases, lease agreements stipulate that remeasurement will take place at regular intervals, such as every five or ten years. This ensures that the rental rate accurately reflects the current market value and real area of the space, preventing disputes in the future. 3. Remeasurement Due to Changes in Building Codes: When there are alterations to building codes or regulations during the lease term, a remeasurement clause may be triggered. If these changes result in modifications to the rentable area, the rental rate can be adjusted accordingly. 4. Remeasurement in Response to Structural Changes: If structural modifications are made to the building during the lease term, such as demolitions or additions, the rentable area may be affected. A remeasurement clause allows for recalculating the rental rate based on the new space size. Overall, the Remeasurement Clause serves as a safeguard against inaccuracies, ensuring fair dealings between landlords and tenants in San Antonio, Texas. By addressing any variances between the rentable and actual area of a space to be built, this clause helps establish a transparent and mutually beneficial leasing environment.