After weeks (or months) of searching, you`ve finally found the perfect apartment to call home – congratulations! You may be tempted to jump on the details of your rental agreement and sign on the points line. Before you do so, here`s what you`re looking for in a rental agreement, no matter what part of Canada you live in. Double dive. The owner`s operating costs for operating separate portions of revenue-generating buildings should only be included in operating expenses when revenues are deducted from your operating expenses. This applies to all stores, cafes, observation platforms, etc. If the building has a garage, your landlord probably charges tenants and the public for parking, but parking operating costs may also be included in your operating costs. If your rental agreement does not expressly exclude these fees, your landlord has a good argument in favour of billing. Careful. Some leases make the “leased” area of the building and not the denominator of the fraction. This means that you, not the owner, will cover the operating costs of the building`s empty spaces.
If your landlord adds floors or converts storage or basement space into office space (expanding the rented area), the portion used to determine your share of the building`s cost should reflect this. In most cases, landlords require a deposit that usually corresponds to one or two months` rent. Mention the amount of the guarantee in the agreement and when it will be refunded. Owners usually keep the original copy of the lease, but you still need to keep a copy. Office rental is often a major effort for a small business. But it can be unnecessarily expensive if you don`t understand the hidden costs and restrictions that are buried in many rental contracts. To protect yourself, you can hire an architect to measure the space to rent and tell you if the usable surface meets your company`s requirements. The architect should use a generally accepted standard, as adopted by the Association of Owners and Managers, so that one room can be compared to exactly the other. Then, regardless of the number used by the owner, you will know how much you will pay per usable square meter and you will have a more informed trading base.
And be careful about clauses that don`t clearly specify how the owner will calculate your share of the construction area. In one case where it was a ground-floor tenant whose lease did not contain a formula, a Pennsylvania court ruled that the tenant had to pay escalation in the same proportion as his rent at the full rent.2 A bad agreement for the tenant. The ground floor area is often more than double the cost per square metre of office space on the upper floors. The basic year are usually the first 12 months that you occupy your place. The “Stop” effort is a figure that represents average and reasonable operating costs per square metre in the first 12 months.