When considering a commercial office space lease, it’s important to carefully investigate any non-rental costs, what’s included in your rental agreement, and what you’re going to be responsible for on a monthly basis. While many commercial leases are likely to be triple net leases (in which the tenant is responsible for operating expenses on a pro rata basis in addition to the rental fee), these leases can be extremely varied and up to negotiation, leaving many tenants largely in the dark as to how much they can expect to spend each month.
In more popular and competitive markets, the operating costs can be as much as half of your base rental fee per square feet – and even higher in more concentrated downtown, financial, or business districts.
Continue reading “A Simple Guide to Calculating Operating Expenses for Office Buildings”