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.
Minnesota Clause for Grossing Up the Tenant Proportionate Share
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US-OL709
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How to fill out Clause For Grossing Up The Tenant Proportionate Share?
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FAQ
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).
So, what is a gross-up provision? Simply stated, the concept of ?gross up provision? stipulates that if a building has significant vacancy, the landlord can estimate what the variable operating expense would have been had the building been fully occupied, and charge the tenants their pro-rata share of that cost.
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.
Stated simply, the concept of ?gross up? is that, when calculating a tenant's share of operating expenses for an office building that is less than fully occupied, the landlord first increases - or "grosses up" - those operating expenses that vary with occupancy (e.g., utilities, janitorial service, etc.) to the amount ...
up is an additional amount of money added to a payment to cover the income taxes the recipient will owe on the payment. Grossing up is most often done for onetime payments, such as reimbursements for relocation expenses or bonuses. Grossing up can also be used to game executive compensation.
