Cost is usually the main factor when a tenant is searching for office space.
If you don’t have a proper understanding of the terms, your lease can become unnecessarily expensive. A typical rent structure usually includes base rent as well as additional rent.
Additional costs associated with your lease can include any of the following:
- Operating Expenses: The cost of running the building. Operating expenses allow the landlord to recover out-of-pocket costs to run the building.
- Electricity: The cost of keeping your lights on. The two most common methods for electricity charges are direct and submetered.
- Real Estate Taxes: The cost of property taxes. The tenant will typically pay the general taxes to the landlord as a reimbursement.
- Cleaning: The cost of keeping your space spick and span. Janitorial services are typically excluded from the base rent and covered by the tenant. Full-service buildings ($$) usually include cleaning.
- Sprinklers: Sprinkler systems are required by law. Landlords may put these maintenance charges into your lease which is otherwise their responsibility.
One of the main reasons why you should be working with a representative is to have someone with industry expertise on your side throughout this process. The hidden fees can cost you.