It is important to consider the total cost of renting at a specific property. The basic rent is based on the size of the premises. A fixed rate for the space can be easy once you know how the size of the space is calculated. A lease may also specify automatic rent escalation per year or based on the Consumer Price Index. A rate escalation should be capped to ensure predictability and ability to obtain loans, and a landlord may also want to include a base. Landlords may ask for a gross lease with stops, starting with the first or “base” year. Tenants will want to know what operating expenses are to be included, where the limits are, how the costs are allocated amongst tenants. Tenants want to consider grossing up for variable costs.
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