Studley Says…
December 22, 2009
From a recent Globe St. article titled “Studley Touts Tenant Opportunities”, which cites Studley’s preliminary Q4 report…
Tenants should negotiate lease terms that require landlords to seek property tax reductions and, if successful, to pass through savings, particularly in the case of anchor or sole tenants,” according to the company’s preliminary fourth quarter report. “Additionally, while many gross leases contain provisions whereby the tenant is responsible for increases over base year expenses, tenants should seek the benefit of decreases as well…”
Back on November 22, 2009 we posted a blog post titled, “Property Tax Appeals: The Impact on Government, Landlord, and Tenants” in which we wrote,
As a tenant, it is also smart to have language within your lease that forces the landlord to seek property tax reductions, particularly if you are an anchor or sole tenant. In addition, many office are gross leases and as such contain a provision whereby the tenant is responsible for increases over the base year expenses.
What happens when the operating expenses fall? That is why tenants should seek the benefit of decreases as well…
Glad we could be of service to Studley…
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thats hilarious. i read that here and somewhere else. the wording is hilarious. i guess they didnt pay that research assistant enough to alter the copy.