This office lease form is a clause regarding all direct and indirect costs incurred by the landlord in the operation, maintenance, repair, overhaul, and any owner's overhead in connection with the project.
The Oklahoma Clause Defining Operating Expenses refers to a specific provision in commercial leases that pertains to the allocation and calculation of operating expenses between the landlord and tenant in Oklahoma. It establishes the obligations and responsibilities of both parties when it comes to shared costs associated with operating and maintaining a commercial property. This clause outlines the different types of expenses that fall under the definition of operating expenses, typically including but not limited to: 1. Common Area Maintenance (CAM) Expenses: This encompasses the costs of maintaining and repairing common areas shared by multiple tenants, such as hallways, parking lots, elevators, landscaping, and security systems. 2. Utilities: It encompasses charges related to electricity, gas, water, and sewer services used in the common areas or those apportioned to the tenant's space. 3. Property Taxes: This refers to the expenses associated with the property's real estate taxes, which are typically divided among tenants based on their respective lease terms and square footage. 4. Insurance: It covers the cost of property and liability insurance, which safeguards the premises against potential damages and protects the landlord and tenant from legal claims. 5. Repairs and Maintenance: It involves expenses incurred for routine repairs and maintenance of the building's structure, roof, plumbing, electrical systems, HVAC, and other components. 6. Management Fees: This includes charges related to property management services, including administrative costs, accounting, lease administration, and other related tasks. 7. Janitorial Services: It takes into account expenses for cleaning and maintenance of common areas and, in some cases, also for individual tenant spaces. 8. Landscaping and Snow Removal: It pertains to costs associated with the upkeep, landscaping, and snow removal services for the property. It is important to note that each commercial lease in Oklahoma may have variations when it comes to defining operating expenses. Some leases may exclude certain expenses, while others may have additional types of expenses that tenants and landlords are responsible for. Therefore, it is crucial for both parties to thoroughly review and negotiate the terms of the Oklahoma Clause Defining Operating Expenses before entering into a lease agreement.
