Utility Clauses

H 800 450 Leasing REality | Commercial Real Estate Education

H

Hard Costs: The readily quantifiable costs of a construction project that become part of the improvements made such as land, a building, inventory, systems, equipment, or machines. These hard costs contrast…

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E 800 450 Leasing REality | Commercial Real Estate Education

E

Early Access: A provision in a lease allowing the tenant access to the space prior to receiving possession, without the payment of rent, during the latter part of landlord’s construction in…

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C 800 450 Leasing REality | Commercial Real Estate Education

C

Capitalization Rate (a.k.a. “Cap Rate”): The rate of return on a real estate investment property based upon the income that the property is expected to produce. A capitalization rate can…

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A 800 450 Leasing REality | Commercial Real Estate Education

A

Abatement: The reduction or elimination of a portion of rent during the lease term. Commonly referred to as “free rent,” “rent abatement” or a “rent concession.” An abatement may be…

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HVAC System Maintenance Contract Requirement 800 450 Leasing REality | Commercial Real Estate Education

HVAC System Maintenance Contract Requirement

Pro-Landlord Language: “Throughout the term of this Lease, Tenant shall at its own cost and expense (i) cause to be performed all maintenance of the HVAC system, equipment and facilities…

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Fuel and Utility Cost Escalations 800 450 Leasing REality | Commercial Real Estate Education

Fuel and Utility Cost Escalations

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Conduit Usage 800 450 Leasing REality | Commercial Real Estate Education

Conduit Usage

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