Real Estate Common Area Fundamentals is brought to you by Lorman
Learn how to control costs associated with your real estate common area.
After payroll, real estate is typically a company’s largest expense. Did you know that up to 70% of leasing costs are from building or center operating costs, taxes, and utilities? Obligations for these items are often buried in complex lease language under headings like common area maintenance charges, operating expense escalations, building expense obligations, expense recovery, etc. This course will focus on how commercial leases are structured, where these financial obligations live, and how they operate in the real world. It will demystify the difference between gross and net leases and the variations in these types of clauses. It will also dive into how and why landlords and tenants often misinterpret lease language, which can lead to errors in tenant charges. Learn how to manage these charges and keep them under control.