This office lease clause states the conditions under which the landlord can and can not furnish any particular item(s) of work or service which would constitute an expense to portions of the Building during the comparative year.
Hawaii Clause for Grossing Up the Tenant Proportionate Share
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US-OL709
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FAQ
Tenant's Proportional Share" shall mean the percentage obtained by dividing the square footage of the Premises by the total square footage of the Building.
Also known as tenant's pro rata share. The portion of a building occupied by the tenant expressed as a percentage. When a tenant is responsible for paying its proportionate share of the landlord's costs for the building, such as operating expenses and real estate taxes, the tenant pays this amount over a base year.
Pro rata is a defined portion in relation to the entirety of an item. Instead of getting all of the items, someone can get a pro rata share, a proportional offering based on how much they are entitled to.
In basic terms, a tenant's pro rata share is calculated by dividing the tenant's rentable square footage by the total rentable square footage of a building or property. Alternatively, the pro rata share may be a deemed or stated percentage in the lease.
Calculate pro rata share You can calculate the pro rata share by dividing the number of ?true? items by the maximum quantity of total items. Using the same example, you would divide 10 by 31 to get roughly 32%. This percentage represents the portion the tenant owes of the total monthly rent.
Many commercial leases, especially office leases, include a provision that allows landlords to ?gross up? operating expenses. That is, if the building is not fully occupied, the landlord is empowered to gross up or overstate the expenses as if the building is fully occupied (or nearly full).
Every lease agreement outlines specific terms for these expenses, but typically, CAM expenses are based on the lessee's pro-rata share. This metric is calculated by dividing the square footage occupied by the tenant by the total square footage of the building and is usually specified in the lease agreement.
Also known as pro rata rent, the quick and easy prorated rent definition is rent that's calculated proportionately. In other words, you'll pay rent not based on the total monthly price, but for how many days you used the rental that month.
