This office lease clause is used to respond to various changes that might occur within the tenant's office building or shopping center.
West Virginia Measurement Representations and Proportionate Share Adjustment of Tenants Proportionate Tax Share
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FAQ
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.
Every lease agreement outlines specific terms for these expenses, but typically, CAM expenses are based on the lessee's pro-rata share. This metric is calculated by dividing the square footage occupied by the tenant by the total square footage of the building and is usually specified in the lease agreement.
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.
How do landlords calculate the ?proportionate share?? Ordinarily, this is calculated based on the relative square footage occupied by each tenant. That makes sense for fixed costs such as taxes, insurance and common area utility costs.
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.
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.
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 majority shareholder's portion, therefore, is (50 / 100) x $200 = $100.
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.