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The Big Unknown: Office Space Operating Expenses

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One of the things that can complicate your budget for office space rent is operating expenses.  There are two ways your landlord can handle these costs.  The first is simple – if it’s $12.00, he charges you $12.00 or $1.00 per square foot per month and you are done.  This is known as a triple net lease (NNN).  The other method is over a Base Year.  This means that in Year One of your lease that $12.00 is included in your rent number, but you’ll pay the difference in subsequent years.  So if your operating expenses increase by $0.25 in Year Two, you’ll pay that difference either in a lump sum or in 12 installments – it depends on your lease.

What do these two methods have in common? Uncertainty... read more

Source: OfficeFinder Miami Member

 

 

Lease Negotiations , Miami Office Space , Office Leasing Tips , Office Space , Office Space Negotiations

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