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Provided by: Lorman Education Services Commercial Leases: A Discussion of Legal, Negotiating and Drafting Considerations For Build-Out, Operating Expense, Tax and Othe |
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Training
Provided by Lorman Education Services
nBy attending this teleconference, you will learn the types of expenses commercial tenants should expect to incur and how to appropriately attempt to limit such expenses. By limiting expenses, you'll go a long way toward protecting the tenants you represent against unforeseen leasing costs. Such expenses include the cost of improving the premises, operating cost pass-throughs, real estate taxes, extra and excluded services, utilities, repairs and approvals.
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Commercial Leases: A Discussion of Legal, Negotiating and Drafting Considerations For Build-Out, Operating Expense, Tax and Othe
Agenda
- General Factors
- Strength of Market
- Position of Landlord
- Creditworthiness of Tenant
- Costs to Prepare the Premises for the Tenant
- Office vs. Retail
- Turnkey vs. Allowance
- Bidding
- Cost of Delays
- Union vs. Nonunion
- As-Is vs. Costs the Landlord Should Incur (Compile Based on Walk-Through With Architect or Contractor)
- Demolition (Must Define to Include Removal of Wires, Conduits, etc.)
- Removal of Hazardous Materials
- Structure (Including Windows)
- Sufficient Utilities (Plumbing, Electrical, HVAC)
- Life Safety (Sprinklers, Strobes, Sirens, Alarms, Pullboxes, Warden Stations, Panels)
- Enclose Risers, and Patch Walls and Floors
- ADA and Handicapped Work
- Common Area Work
- Future Renovations (Paint, New Carpet)
- Operating Expenses
- Specific Step-Ups vs. CPI vs. Pass-Throughs
- Base Year (Gross-Up)
- Historical Increases
- Proportionate Share (Equitable, More Than 100 Percent Reimbursement)
- Examples of Exclusions
- Capital Improvements
- Special Services, Repairs, Utilities or Improvements for Specific Tenants
- Cost of Repairing Casualty and Condemnation
- Management Office, Salaries Above Property Manager
- Depreciation
- Taxes
- Costs of Marketing and Leasing
- Cost of Correcting Building Defects
- Curing Defaults
- Insurance Premium Increases Caused by Particular Tenant
- Costs to Remove Hazardous Materials
- Costs to Comply With Handicapped Laws
- Caps
- Management Fees
- Controlled Caps
- Charges by Landlord Affiliates
- Audits and Challenges
- Real Estate Taxes
- Base Year (Abatements, Concessions)
- Historical Increases
- Proportionate Share
- Examples of Exclusions
- Inheritance, Gift, Transfer, Mortgage, Franchise, Excise, Net Income and Profit Taxes; Capital Levies; Penalties and Interests
- Assessments (Amortization)
- Challenges and Refunds
- Other Expenses
- Services and Utilities
- Ordinary and Supplemental Utilities
- After-Hours Charges (HVAC, Building Staff)
- Supplemental AC, Condenser Water
- Freight Elevators, Hoisting and Loading Dock
- Cleaning, Garbage Removal and Snow Removal
- Lighting and Ballast Replacement
- Repairs and Restoration (Landlord vs. Tenant Responsibilities, Restoration at End of Lease Term)
- Approval Costs (Assignment and Subletting; Alterations)
- Parking
- Signage: Suite Entry and Directory Signage
- Security: Key and Access Cards
- Changes in the Law
- Promotional Costs
- Security and Terrorism Insurance
- Questions and Answers
About The Training Provider: Lorman Education Services
Lorman Education Services - Lorman Education is dedicated to providing cost-effective training opportunities that meet the needs of our members and enhance their skills, knowledge, and competencies.
Please use Priority Code 16175 when registering.
Lorman Education Services began offering continuing education seminars in 1987.
Lorman Education is dedicated to providing cost-effective training opportunities that...
