Understanding Tenant Expenses with Hughes Marino
Understanding Tenant Expenses with Hughes Marino
The firm of Hughes Marino has always made a point of helping commercial property tenants to understand the terms of their agreement. This is crucial in the commercial realty industry in which a fair amount of misinformation is allowed to flourish. The high level of integrity evinced by the firm is one of its hallmarks. Honesty has made it an enduring industry institution.
Don’t Spend Above Your Base Rent
Perhaps the greatest lesson that can be taught by Hughes Marino is not to spend too far above your base rent. As it happens, tenants all across the nation routinely spend millions of dollars beyond their rent. The majority of this extra cash is consumed by basic operating expenses.
However, as Hughes Marino firm´s specialists recall, these expenses are subject to conditions not included in the original rental agreement. They are largely distinct from the bottom rental rate that has already been negotiated and spelled out in the initial lease document. As a result, these operating costs are subject to the operating and accounting procedures of each property owner.
Negotiating an Equitable Sum
At the end of the day, these charges will be passed on to tenants on a biannual basis. At the start of the year, they appear as basic operating expenses. At the end, Hughes Marino adds, they reappear in the form of an operating expense reconciliation statement.
These expenses will be subject to interpretation. The issue here is that they can result in severe overpayment. This is where Hughes Marino buyer and tenant representation firm comes in to educate tenants on how to avoid this misfortune.