Lease question? help needed

whit1 · 08-23-2006, 07:13 AM

so im in the process of negotiating back and forth with the Lanlord on the lease with my Lawyer..

Here is the thing im having a problem with, the space im renting the Lanlord says its 1200sf, we did a complete floor plan on the space and its only 1127sf ! My lawyer informed the lanlord that the space is NOT 1200sf as there claiming and that is truely 1127sf.. The lanlords comment were "Paying outside measurement number on building"...

i have never heard of this, shouldnt i ONLY be paying for space im "using and occupying" ???

any suggestion on how to handle this???

thanks
whit1

billable · 08-23-2006, 07:24 AM

It sounds like you may be measuring the inside dimensions on each room and adding them up. If that is what you are doing, forget it. The landlord has measured the bay that you are leasing and if it is 20 x 60, you have 1200 sq. ft. It doesn't matter that you have it divided up with walls and lost usable space.

Now if the outside dimensions of your bay are 20 x 50 and you only have 1000 sq ft. you may have a case for reducing your lease. Depends on the wording of the lease. Good luck.

caribbean tan man · 08-23-2006, 08:04 AM

agree /\

whit1 · 08-23-2006, 08:04 AM

no, we measured the whole space as a empty shell.

the length of my building is 77'.7" x 14'.5" wide =1126.65sf

caribbean tan man · 08-23-2006, 08:11 AM

well thats not cool then...the main thing is how is the landlord coming up with the price? is he leasing it at $X per sf or is it just a basic price....

whit1 · 08-23-2006, 08:13 AM

he is asking $15 per sf.

so im either paying $15 sf on 1127sf or $15 sf on 1200sf.. difference of $110 a month for space im not using.

also there is a triple net lease of $2.75 per sf.

caribbean tan man · 08-23-2006, 08:31 AM

if hes charging you per square foot then its a serious issue. somehow you need to get this in his head. im not sure anyone here can help with that.

however i do wonder if the numbers you posted are correct $15 psf X 1127= $16,905 or if im doing it wrong maybe you mean $1.5psf ...i dont pay by the SF.

am i doing something wrong....this is way to much rent for a salon

also im not familiar with triple net lease ........whats that? my rent is $1000 for 900 sf

Mr Derf · 08-23-2006, 08:40 AM

Triple net is the same as cam. So the whole rent is 17.75 per SF, which is cheap IMO.

Most landlords do an outside measurement. I think he would bend if pushed, unless he has somebody else interested.

whit1 · 08-23-2006, 08:42 AM

Quote:

Originally Posted by caribbean tan man

if hes charging you per square foot then its a serious issue. somehow you need to get this in his head. im not sure anyone here can help with that.

however i do wonder if the numbers you posted are correct $15 psf X 1127= $16,905 or if im doing it wrong maybe you mean $1.5psf ...i dont pay by the SF.

am i doing something wrong....this is way to much rent for a salon

also im not familiar with triple net lease ........whats that? my rent is $1000 for 900 sf

rent on 1127sf would be $1690.00..sorry to confuse you. or on 1200sf $1800.00

triple net lease is:

CAM plus taxes are currently about $2.75 per square foot adjusted quarterly or yearly
Common Area Maintenance of building, insurance, etc are in CAM. Tax is separate but in above number. You pay all utilites and interior maintenance

whit1 · 08-23-2006, 08:45 AM

Quote:

Originally Posted by Mr Derf

Triple net is the same as cam. So the whole rent is 17.75 per SF, which is cheap IMO.

Most landlords do an outside measurement. I think he would bend if pushed, unless he has somebody else interested.

well im gonna try and push him, the place has been vacant for at least 5 months., or im gonna try and get the rent lower. ie $13sf for 1st 2yrs , $14 3rd, $15 4-5th yr..

there 1st proposal on rent was:
$15 for 2, $16 for last 3; then fair market for extension term

08-23-2006, 07:13 AM	#1 (permalink)
whit1 Join Date: Jun 29 2006 Location: Ma Posts: 37 Rep Power: 0	Lease question? help needed so im in the process of negotiating back and forth with the Lanlord on the lease with my Lawyer.. Here is the thing im having a problem with, the space im renting the Lanlord says its 1200sf, we did a complete floor plan on the space and its only 1127sf ! My lawyer informed the lanlord that the space is NOT 1200sf as there claiming and that is truely 1127sf.. The lanlords comment were "Paying outside measurement number on building"... i have never heard of this, shouldnt i ONLY be paying for space im "using and occupying" ??? any suggestion on how to handle this??? thanks whit1

08-23-2006, 07:24 AM	#2 (permalink)
billable I'm Banned Join Date: Feb 1 2006 Location: Tennessee Age: 47 Posts: 4,181 Rep Power: 0	Re: Lease question? help needed It sounds like you may be measuring the inside dimensions on each room and adding them up. If that is what you are doing, forget it. The landlord has measured the bay that you are leasing and if it is 20 x 60, you have 1200 sq. ft. It doesn't matter that you have it divided up with walls and lost usable space. Now if the outside dimensions of your bay are 20 x 50 and you only have 1000 sq ft. you may have a case for reducing your lease. Depends on the wording of the lease. Good luck.

08-23-2006, 08:04 AM	#3 (permalink)
caribbean tan man DERFTALK FBI AGENT Join Date: Jul 29 2003 Location: northeast Age: 32 Posts: 5,149 Rep Power: 31	Re: Lease question? help needed agree /\ __________________ someone PM me when a good tanning topic is posted. :lol:

08-23-2006, 08:04 AM	#4 (permalink)
whit1 Join Date: Jun 29 2006 Location: Ma Posts: 37 Rep Power: 0	Re: Lease question? help needed no, we measured the whole space as a empty shell. the length of my building is 77'.7" x 14'.5" wide =1126.65sf

08-23-2006, 08:11 AM	#5 (permalink)
caribbean tan man DERFTALK FBI AGENT Join Date: Jul 29 2003 Location: northeast Age: 32 Posts: 5,149 Rep Power: 31	Re: Lease question? help needed well thats not cool then...the main thing is how is the landlord coming up with the price? is he leasing it at $X per sf or is it just a basic price.... __________________ someone PM me when a good tanning topic is posted. :lol:

08-23-2006, 08:13 AM	#6 (permalink)
whit1 Join Date: Jun 29 2006 Location: Ma Posts: 37 Rep Power: 0	Re: Lease question? help needed he is asking $15 per sf. so im either paying $15 sf on 1127sf or $15 sf on 1200sf.. difference of $110 a month for space im not using. also there is a triple net lease of $2.75 per sf.

08-23-2006, 08:31 AM	#7 (permalink)
caribbean tan man DERFTALK FBI AGENT Join Date: Jul 29 2003 Location: northeast Age: 32 Posts: 5,149 Rep Power: 31	Re: Lease question? help needed if hes charging you per square foot then its a serious issue. somehow you need to get this in his head. im not sure anyone here can help with that. however i do wonder if the numbers you posted are correct $15 psf X 1127= $16,905 or if im doing it wrong maybe you mean $1.5psf ...i dont pay by the SF. am i doing something wrong....this is way to much rent for a salon also im not familiar with triple net lease ........whats that? my rent is $1000 for 900 sf __________________ someone PM me when a good tanning topic is posted. :lol: Last edited by caribbean tan man; 08-23-2006 at 08:35 AM.

08-23-2006, 08:40 AM	#8 (permalink)
Mr Derf Vote Derf 4 Prez! Join Date: Jun 29 2006 Location: NE Age: 46 Posts: 2,470 Rep Power: 9	Re: Lease question? help needed Triple net is the same as cam. So the whole rent is 17.75 per SF, which is cheap IMO. Most landlords do an outside measurement. I think he would bend if pushed, unless he has somebody else interested.

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