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Category Archives: Rent
Is Remote Work the “Netflix” for office buildings?
Jim Kramer on CNBC Squawk Box recently rhetorically asked: will this mandated “work from home” be the Netfix for office buildings as Netflix was for movie theatres? I don’t think the analogy fits. Pre-COVID 19, tenants were laser-focused on collaborative … Continue reading
Filed under: Company Culture, Confidentiality, Coronavirus, Cost Savings, COVID-19, Disaster, Distraction, Employee Satisfaction, Environment, Flexibility, Health, Office Space Trends, Open Floor Plan, Pandemic, Productivity, Remote Work, Rent, Shared Office Space, Telecommuting, WFH, Work From Home, Work Life Balance, Workers' Compensation
Tagged collaborative work, collaborative workspace, Company Culture, Coronavirus, Cost savings, COVID 19, Flexible, Home Office, office lease, office rent, office tenant, Pandemic, Productivity, Remote Work, Technology, Telecommute, telecommuting, tenant, Work From Home, Work Life Balance
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Is it Fair That My Landlord can Artificially Inflate Operating Expenses?
Most office leases allow landlords to recoup from tenants on a pro rata basis the operating expenses and taxes that the landlord pays to operate the building. When a building is not fully occupied and where a landlord is collecting … Continue reading
Filed under: Area Measurement, Building Services, Lease Audit, Other Lease Terms, Pre-lease Issues, Rent, Transparency
Tagged audit, base year, full occupancy, Gross Rent, gross up, grossing up, landlord, lease check list, occupancy, office lease, office tenant, operating expenses, Tax and Operating Expenses, variable operating expense
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Tenants: Are You Ready for the New Lease Accounting Standard?
2019 is a big year in lease accounting. In 2019 (which began December 15, 2018 for fiscal year reporters), publicly traded companies are required to comply with the new accounting standard (ASC 842) and are required to recognize leases greater … Continue reading
Filed under: Lease Audit, Pre-lease Issues, Rent, Uncategorized
Tagged asc842, FASB, IASB, Lease Accounting, Lease Accounting Change
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Limiting the Hidden Costs of Office Rent: Operating Expenses & Taxes
A major component (30% or more) of an office tenant’s rent bill is property taxes & operating expenses (“T&O”) which today is on the rise and where tenants have limited control under landlord-favorable leases. In Chicago, T&O is rising significantly … Continue reading
Filed under: Lease Audit, Other Lease Terms, Pass-throughs, Pre-lease Issues, Rent
Tagged Additional rent, CAM, Gross Rent, Net Rent, office rent, Pass throughs, Rent Structure, Tax and Operating Expenses
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Tenant’s Lease Renewal Strategies
Lease renewals are one of the most profitable leasing transactions for landlords. As most tenants look to renew their lease to avoid the disruption associated with a relocation and as landlords perceive existing tenants as a “captive audience”, I’ve outlined … Continue reading
Filed under: Options, Rights, and Renewals, Pre-lease Issues, Rent
Tagged lease renewal, option to renew, tenant rep, winning office lease renewal strategy
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Operating Expense & Tax Reconciliation Season: Don’t leave Money on the Table
Now that the holiday season is over, ‘tis the season for Operating Expenses and Tax reconciliation for office tenants. As most office leases allow the landlord to recapture increases in Operating Expenses and Taxes (which tenants commonly pay on an … Continue reading
Filed under: Lease Audit, Other Lease Terms, Rent, Uncategorized
Tagged audit, CAM, office lease audit, operating expenses, reconciliation, reconciliation statements, tenants, true-up, trueup
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