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 Bernardino, California, is a city located in the Inland Empire region of Southern California. Known for its beautiful scenery, outdoor recreational opportunities, and rich history, San Bernardino is also home to various industries and a growing business community. In the real estate sector, there is a common practice known as the Remeasurement Clause, which is often used when variances exist between the rentable and actual area of a space to be built. The Remeasurement Clause is a contractual agreement between the landlord and tenant that allows for adjustments in rent based on the actual usable area of the leased premises. This clause is typically included in commercial lease agreements and serves as a mechanism to account for discrepancies between the rentable area stated in the lease and the actual usable area determined after construction or renovation. In San Bernardino, like in many other cities, different types of Remeasurement Clauses can be employed depending on the specific circumstances and parties involved. Some of these variations include: 1. Gross Area Remeasurement: This type of clause allows for the remeasurement of the entire area leased, including both usable and non-usable spaces such as common areas, hallways, and restrooms. The tenant's rent is adjusted based on the ratio of their usable area to the total gross area. 2. Net Area Remeasurement: In this case, only the usable area of the leased premises is considered for remeasurement. Common areas or spaces shared with other tenants are excluded from the calculation, and the tenant's rent is adjusted accordingly. 3. Core Factor Remeasurement: This clause takes into account the common areas and shared spaces within a building that benefit all tenants, such as lobbies, staircases, or elevators. The remeasurement is based on a ratio that considers both the tenant's usable area and their proportionate share of the common areas. The purpose of these Remeasurement Clauses is to ensure fairness in lease agreements and to avoid discrepancies in rent payments caused by inaccuracies in the initial measurement of the leased space. This practice allows for a more accurate assessment of the value and cost of a lease, benefiting both landlords and tenants alike. For individuals or businesses considering leasing commercial space in San Bernardino, understanding and negotiating the Remeasurement Clause can be crucial in ensuring transparency and avoiding any potential disputes related to the actual usable area of a space to be built. It is advisable to consult with legal professionals or real estate experts well-versed in the local regulations and practices ensuring that the lease agreement aligns with both parties' expectations.San Bernardino, California, is a city located in the Inland Empire region of Southern California. Known for its beautiful scenery, outdoor recreational opportunities, and rich history, San Bernardino is also home to various industries and a growing business community. In the real estate sector, there is a common practice known as the Remeasurement Clause, which is often used when variances exist between the rentable and actual area of a space to be built. The Remeasurement Clause is a contractual agreement between the landlord and tenant that allows for adjustments in rent based on the actual usable area of the leased premises. This clause is typically included in commercial lease agreements and serves as a mechanism to account for discrepancies between the rentable area stated in the lease and the actual usable area determined after construction or renovation. In San Bernardino, like in many other cities, different types of Remeasurement Clauses can be employed depending on the specific circumstances and parties involved. Some of these variations include: 1. Gross Area Remeasurement: This type of clause allows for the remeasurement of the entire area leased, including both usable and non-usable spaces such as common areas, hallways, and restrooms. The tenant's rent is adjusted based on the ratio of their usable area to the total gross area. 2. Net Area Remeasurement: In this case, only the usable area of the leased premises is considered for remeasurement. Common areas or spaces shared with other tenants are excluded from the calculation, and the tenant's rent is adjusted accordingly. 3. Core Factor Remeasurement: This clause takes into account the common areas and shared spaces within a building that benefit all tenants, such as lobbies, staircases, or elevators. The remeasurement is based on a ratio that considers both the tenant's usable area and their proportionate share of the common areas. The purpose of these Remeasurement Clauses is to ensure fairness in lease agreements and to avoid discrepancies in rent payments caused by inaccuracies in the initial measurement of the leased space. This practice allows for a more accurate assessment of the value and cost of a lease, benefiting both landlords and tenants alike. For individuals or businesses considering leasing commercial space in San Bernardino, understanding and negotiating the Remeasurement Clause can be crucial in ensuring transparency and avoiding any potential disputes related to the actual usable area of a space to be built. It is advisable to consult with legal professionals or real estate experts well-versed in the local regulations and practices ensuring that the lease agreement aligns with both parties' expectations.
