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A tenant rep broker is a commercial real estate professional who represents the tenant, and only the tenant, in a lease transaction. Unlike the listing broker, who works...
Commercial leases almost always involve brokers, and brokers have to get paid by someone. For tenants new to office, retail, or industrial space, the question of who actually...
In a base year lease, everything hinges on the base year. Your rent increases are measured against the operating expenses incurred in that single year, so the composition...
When a commercial lease sets renewal rent at fair market rent, or when a landlord quotes you a rate for new space, that number comes from somewhere. Fair...
Many commercial leases raise your rent automatically each year, and one of the most common mechanisms is a CPI escalation clause. Tied to the Consumer Price Index, this...
Not every commercial lease charges tenants for operating expense increases the same way. In a base year lease, you pay the increases above your base year. In a...
Operating expenses in a commercial lease rarely stay flat. They creep upward year after year, and tenants with no protection watch their total occupancy cost drift far above...
Every commercial building eventually needs a new roof, a new HVAC system, or a major elevator overhaul. These are capital expenses, big-ticket items with long useful lives, and...
Common area maintenance charges, usually called CAM, are one of the largest variable costs in a commercial lease. Inside that CAM bill sits a line item that puzzles...
In a commercial lease, your share of operating expenses depends on how full the building is. That sounds strange at first, but the logic is simple. Many building...