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TopicEscalation & Pass-Through Provisions
Sub-TopicOperating Costs
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Fuel and Utility Cost Escalations

“For the purposes of this Article only, the following words and terms shall have the following meanings: “Fuel Cost” shall mean Landlord’s cost for all fuel (including but not limited…

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Operating Expense Definition Exclusions

The following items shall be excluded from the operating expense definition: Costs which are directly reimbursable to landlord by other tenants; Costs of the initial construction of the building or…

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Percentage Rent in a Commercial Lease

Master Your Leasing Domain Percentage Rent in a Commercial Lease Previous ChapterTable of ContentsNext Chapter When it comes to a landlord sharing in the profits of a tenant in a…

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B

Base Rent: Base Rent is the minimum or base amount of rent payment as set out in a lease and is often referred to as “fixed rent.” Generally stated, base…

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C

Capitalization Rate (a.k.a. “Cap Rate”): The rate of return on a real estate investment property based upon the income that the property is expected to produce. A capitalization rate can…

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E

Early Access: A provision in a lease allowing the tenant access to the space prior to receiving possession, without the payment of rent, during the latter part of landlord’s construction in…

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F

Façade: An exterior side of a building that is usually characterized as the front of the building. From an engineering perspective, the façade may have a significant impact on energy efficiency…

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O

Occupancy Rate: The percentage of space in a building that is occupied in relation to all leasable space in such building. Operating Expense Escalation (Clause) | Operating Cost Escalation |…

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P

Partial Lien Waiver: A document executed by a contractor or subcontractor notifying not only the party making payment to the contractor or subcontractor but also to the property owner, bank,…

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R

Real Estate Tax (Escalations): Provision in lease agreements where tenant agrees to pay its pro-rata share of any increase in real estate taxes on the leased property over and above a…

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Real Estate Tax Escalations

Master Your Leasing Domain Real Estate Tax Escalations Previous ChapterTable of ContentsNext Chapter Somewhat analogous to the line by comedian Tracy Morgan where he said “I got five kids –…

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Defining Operating Expenses

Typically, at their most basic level, operating expenses of a building include those attributable to: Ownership, management, maintenance and operating expenses Insurance premiums and deductibles Wages, salaries and benefits of…

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Miscellaneous Real Estate Tax Clause Tips

Business Improvement District Charges: As a straight pass-through, landlords should attempt to pass any business improvement district (“BID”) charges on to their tenant based on their proportion share of same.…

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