This office lease clause is used to respond to various changes that might occur within the tenant's office building or shopping center.
Connecticut Measurement Representations and Proportionate Share Adjustment of Tenants Proportionate Tax Share
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FAQ
Tenant's Percentage Share means the percentage figure obtained by dividing the net rented area of the Premises specified hereinabove by the total net useable area of the rental space in the Building, and by multiplying such quotient by One Hundred (100).
Practical Example A retail tenant leases 5,000 square feet and pays $5 per square foot per month in rent. Furthermore, the retail tenant's agreed with the landlord that if monthly sales exceed $100,000, they will pay 5% of additional sales past that threshold ($100,000) as variable rent.
As of 2022, 35.7 percent of the population rented, with the majority renting from a private landlord. Approximately 16.6 percent of the population were social renters and rented from housing association or a local authority.
Share tenancy is a land lease under which rent is a contracted percentage of the output yield from the tenant per period of time. As a rule, the landowner provides land, and the tenant provides labor; other inputs may be provided by either party.
In general, the tenant's proportionate share is determined by taking the building's rentable square footage and dividing it by the tenant's rentable square footage. Local industry customs usually provide the landlord with the guiding principles for: Measuring the building.
