Office Space Terms To Know Before Leasing

When you’re looking for the best office space near you, in the Capital Region or beyond, it’s important to know all the terms you may be reading in a lease. The Anderson Group is here to help with some key office rental terms you may see.
Common Area Maintenance (CAM)
Costs that derive from the care of building areas that are used by all tenants. CAM areas can include spaces such as hallways, lobbies, restrooms, sidewalks and parking lots.
Double Net Lease (NN)
Incorporates taxes and insurance into your lease payment, but the landlord is responsible for paying maintenance costs.
Gross Lease
When you sign a gross lease, you agree to pay for your space’s square footage, and your landlord agrees to pay for all other operating expenses, including utilities, maintenance, insurance and property taxes.
Leasable Area
A blend of your office square footage plus a percentage of the square footage in the building’s common areas.
Improvements and Alterations
Construction or modifications done to a space, sometimes as a response to a tenant’s request
Maintenance and Utilities
Included in a clause that spells out your responsibility to maintain your leased space.
Net Lease
An agreement where the tenant pays rent along with of additional costs associated with the property
Permitted Use
How a tenant is allowed to use their premises during the terms of the lease
Premises
The exact area a tenant will be renting in their lease
Renewal Option
The right to extend the term of your lease for a fixed period of time
Term
The start and end dates of your lease
Triple Net Lease (NNN)
A lease agreement where the tenant (or lessee) is responsible for the property’s ongoing expenses, including real estate taxes, building insurance, and maintenance, in addition to paying rent and utilities.
Renters Insurance
Covers tenants’ personal possessions, liability and additional living expenses
Want more ideas for sprucing up your office space place? Contact Susan Touhey at The Anderson Group for tips and tools to improve your office space design, productivity and efficiency. Call 518-458-7726 or email stouhey@andersonoffices.com.Thank You
You have been subscribed.
Sorry
There was a problem submitting the form, please reload the page and try again.
LatestTweets
#MLKDay #MartinLutherKingDay https://t.co/evGQKPOiaI

Did you know the average U.S. worker spends 1,936 hours at work each year?
Head to our website to find your new space ➡️ https://t.co/FenCBVQmoC
#OfficeSpace #ExecutiveSuites #NewYear #Albany #CapitalRegion https://t.co/GIvvThwjKn

