How does a Base Year play into calculating a tenant's reimbursement?
It tells us what their expenses will be capped at.
It tells us what year the tenant occupied the building.
It tells us where the landlord's obligation to cover expenses ends, and the tenant's begins.
What is a pro-rata share?
It's the percentage of a tenant's square footage into the rentable square footage of the building, and determines the amount of OpEx above their Base Year a tenant will be responsible for reimbursing the landlord for.
It's the percentage that tells us how much we can gross variable expenses up by.
It's the method for determining which expenses are recoverable and which are non-recoverable.
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