This office lease form describes an operating cost escalations provision.In the event that the operating costs for any calendar year during the term of this lease shall be greater than the base operating costs, the tenant will pay to the landlord additional rent of an amount equal to such an increase.
Louisiana Operating Cost Escalations Provision
State:
Multi-State
Control #:
US-OL19034A
Format:
Word;
PDF
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FAQ
An additional way the clause can backfire is if the seller counteroffers at the cap price in the escalator. Unfortunately, for buyers, these clauses give away the maximum amount of money they are willing to pay. These reasons are why escalation clauses in real estate are bad in specific circumstances.
If a buyer submits an offer containing an escalation clause without knowing the price and terms of the other offers and without specifying a maximum price, the buyer may end up paying much more for the property than desired.
In fact, some states, like Texas, have legislatively prohibited escalation clauses. As of the writing of this article, escalation clauses are untried in Louisiana?there are not Louisiana cases, legislation, or regulations interpreting escalation clauses.
While escalation clauses have their advantages, they also have some drawbacks, which can include: Buyers and sellers lose their chances of negotiating once an escalation clause is accepted.
Bidding wars often ensue when purchasers include escalation clauses in their contracts. Escalation clauses can lengthen the negotiation process - a disadvantage for both sellers and purchasers. Market prices become inflated and comparative analyses can become skewed.
Buyers and sellers lose their chances of negotiating once an escalation clause is accepted. Since a clause reveals the maximum amount a buyer is willing to pay, the seller will know their highest offer right away. This eliminates the opportunity to negotiate. The ?cap? may remove the bargaining power for the buyer.