Office Space Lease-Pay Pro rata Share of Expenses is an agreement between a tenant and a landlord where the tenant pays a pro rata (proportional) share of expenses related to the office space they are renting. This includes expenses such as property taxes, insurance, utilities, maintenance, and repairs. The tenant’s share of these expenses is typically based on the size of the office space they occupy and the length of their lease. There are two types of Office Space Lease-Pay Pro rata Share of Expenses: Gross Expense Lease and Net Expense Lease. With a Gross Expense Lease, the tenant pays a set amount of the expenses, regardless of the actual amount of the expenses. With a Net Expense Lease, the tenant pays a percentage of the actual expenses incurred.
Office Space Lease-Pay Pro-rata Share of Expenses
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FAQ
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.
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.
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.
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 Percentage Share means the percentage specified in the Basic Lease Information. Tenant's Percentage Share means the percentage figure specified in the Summary which represents the ratio that the Rentable Area of the Premises bears to one hundred percent (100%) of the Rentable Area of the Building.
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.
Operating expenses are the recurring costs to maintain a rental property in good condition. Common rental property operating expenses include marketing and advertising, leasing and property management, repairs and maintenance, insurance, and property taxes.
Proportionate Share of Operating Expenses means a fraction equal to the total Gross Rentable Area of the Premises divided by the total Gross Rentable Area of the Building.