When you choose a DTC office space rental, be prepared that there will be lots of tasks involved, including a careful appreciation of the rental contract. The contract will come with lots of terms and conditions, one of the clauses that need your attention being rent escalation, the clause that allows the landlord to increase the rent gradually. Here are some things that you should know about commercial rental rate increase:
- How rates are expressed – there are several ways to establish Denver Tech Center office space rental rates. Some landlords charge a per square foot rate, others establish a base rate for the entire office or per square foot and add other fees calculated as percentages of the base rate, to mention just two of the most common calculation methods;
- What your rented area includes – your rental rates will include not only the office space that you use, but proportional parts of the staircase, of the elevator and of other public parts of the building as well as a part of the cleaning and maintenance fees. How much you will actually pay for your rental will also be determined by changes in these rates as well;
- Fixed escalations – most lease contracts include clauses related to fixed, usually yearly increases, expressed either as a fixed amount or as a percentage of the rent amount.