This form is intended for a major commercial office complex. This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.
Pennsylvania Detailed Office Space Lease with Lessee to Pay Pro-rata Share of Expenses
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Then your landlord is likely to prorate your rent based on the rest of the month. By dividing the total monthly rent by the number of days in the month, the landlord can determine the amount of the rent that is proportionate to pay.
Under a gross lease, the owner/landlord covers all the property's operating expenses including real estate taxes, property insurance, structural and exterior maintenance and repairs, common area maintenance and repairs, unit maintenance and repairs, utilities, and janitorial costs.
In the context of commercial real estate, the term Pro Rata Share is a method of calculating a tenant's share of a building's expenses based upon a calculation defined in a tenant's lease. Pro Rata Share of expenses is generally expressed as a percentage.
The pro-rata share is the percentage of expenses shared by the tenant for the shopping center or office building. In most leases, the pro-rata share is calculated as a fraction of the tenant's demised square footage divided by the total square footage of the shopping center or the building.
The amount due to each shareholder is their pro rata share. This is calculated by dividing the ownership of each person by the total number of shares and then multiplying the resulting fraction by the total amount of the dividend payment.
The term Pro Rata means proportional or in proportion. In the context of commercial real estate, the term Pro Rata Share is a method of calculating a tenant's share of a building's expenses based upon a calculation defined in a tenant's lease. Pro Rata Share of expenses is generally expressed as a percentage.
Pro rata is a Latin term meaning in proportion that is used to assign or allocate value in proportion to something that can accurately and definitively be measured or calculated.
An expense stop is a contractual provision that protects the property owner from rising expenses over the lease term. In such a case, the property owner typically agrees to pay all of the operating expenses in the first year of the lease, this is known as the base year amount and it sets the expense stop.
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.
Tenant's Share may also be referred to as Tenant's Proportionate Share, Pro Rata Share or simply PRS. It represents the percentage of the Defined Area that is occupied by a particular tenant.
