the office relocation planning website

Office Space Terminology

If your company is looking for new office space, you're likely to come across these office space terms which you now need to be familiar with. This will help you to communicate better with your Tenant Rep Broker and have a good understanding of the terms likely to come up in your office lease negotiations.

Listed below are 10 of the most common office space terms and their meaning:

Common Area
The common area includes the area(s) that are shared throughout the building, such as lobbies, restrooms, elevators and hallways

Common Area Maintenance (CAM)
Costs required for a tenant's pro rata share of the upkeep of common areas and amenities such as the parking lot, external lighting, trash removal, and street cleaning. When obtaining quotes for office space, you should always ask about tenant CAM expenses, because a lower per-square-foot rental rate at one location may be offset by high CAM expenses.

Commencement Date
The date by which the lease is signed and go into effect.

Occupancy Date
The date on which the tenant can take possession and move into the lease.

Net Lease
A lease in which the tenant pays, in addition to Base Rent, certain costs associated with a leased property, including property taxes, insurance premiums, repairs, utilities and maintenance.

Gross Lease
A lease which provides that the landlord pay all expenses of the leased property including taxes, insurance, maintenance and utilities.

Renewal Option
A renewal option is the option to extend the life of a lease at a market rate that is either defined in the original lease or the current market rate at the time of the renewal.

Letter of Intent
A formal method through which a prospective tenant expresses their interest in a property.

Rentable Square Feet
Useable square feet plus a percentage (the Core Factor) of the common areas on the floor, including hallways, bathrooms and telecommunications closets, and elevator lobby. Rentable square footage is the number of square feet on which a tenant's rent is based.

Tenant Improvement Credit
Tenant Improvements, commonly referred to as 'TIs', are allowances that a tenant can spend on improvements. For example, a landlord will grant tenant improvements up to $10,000 to modify an existing office space.

Looking for office space? Make sure you use the Office Space Checklist when touring potential offices to make sure you make the right choices.

 

Planning an office move? Go the office relocation planning resource center

Latest Tips

Back to top ↑
×

Register for FREE

My office move will be in:

Terms & Conditions

This is the Privacy Policy for the website known as www.HelpMovingOffice.com (the “Site”). We reserve the right, at our discretion, to change, modify, add, or remove portions from this policy at any time so visitors are encouraged to review this policy from time to time. Your continued use of our Site following the posting of changes to these terms means you accept these changes. 

INTRODUCTION

HelpMovingOffice.com is committed to protecting your personal information. All personal information collected from Users will be considered private by HelpMovingOffice.com and will not be used or shared except as set forth in this Privacy Policy or as may otherwise be agreed in writing between HelpMovingOffice.com and a particular User. We employ generally accepted industry standards in order to protect the personal information which is provided to us by Users. We cannot, however guarantee that such information will never be subjected to unauthorized access. By using the Site, you acknowledge that you understand and agree to assume this risk, including any damages you may suffer as a result.

HelpMovingOffice.com believes in safeguarding the privacy of our users whilst also providing a beneficial service. This Policy explains how we use the information we collect about you and the procedures that we have in place to safeguard your privacy. 

THE INFORMATION WE COLLECT

We will collect personal information about you which you give to us when you register to use our website and when you provide information as part of our service (for example, in order to obtain a copy of a checklist or document for the purpose of helping you plan your office move). We will periodically review your personal information to ensure that we do not keep it for longer than is necessary.

PURPOSES FOR WHICH WE USE INFORMATION ABOUT YOU

We may use your personal information for the following purposes to:

  • Enable you to access and use part or all of the services; and/or
  • Personalize aspects of our overall service to you; and/or Communicate with you; and/or
  • Process a connection between you and a third party; and/or
  • Provide your details to third parties that offer products or service that may be of interest to you; and/or
  • Analyze and research the use of our website and improve the quality of our services for users and advertisers. 

INFORMATION USE & SHARING

Please be aware that if you either use, or register to use, our website or our services, you will be giving your consent to us disclosing your personal information to the following parties:

  • Third parties that help us provide our services to you, such as web hosting companies;
  • Third party providers whose products or services are relevant for the purposes of obtaining advice or services relating to moving office;
  • Regulatory/governing bodies for the purposes of compliance monitoring;
  • Other third parties that might be able to offer products or services that are applicable as a result of your requirement about thinking about moving office.
  • We automatically collect information about your visits to our site. We may share your personal information with third party service providers who may then contact you with a quote for their product or service. You hereby consent to being contacted by such third parties, and also by HelpMovingOffice.com, by phone, email or mail, regardless of the presence of your phone number(s) on any local or national no-call list, or of your email address on any no-contact list.

We may transfer, sell or assign personal information to third parties as a result of a sale of all or substantially all of our business or in connection with a merger, consolidation, change in control, reorganization or liquidation. We also reserve the right to disclose any information concerning you if we are required to do so by law or in order to protect or defend our rights or the rights of our Users.

If you do not wish to be included then please email info@helpmovingoffice.com 

THIRD PARTY PROVIDERS AND DATA PRIVACY

If you decide to enter into a contract with a third party provider through a channel on our website, the information you have provided to us together with any further information requested by, and supplied by you to, the third party provider will be held by the provider for the purposes set out in that provider's privacy policy. Therefore, you are strongly advised to read your chosen provider's privacy policy and satisfy yourself as to the purposes for which the provider will use your personal information before entering into the contract. We have no responsibility for the uses to which a provider puts your personal information once you have contracted with that provider.

SECURITY

The internet is not a secure medium. However we have put in place various security procedures as set out in this policy. Firewalls are used to block unauthorised traffic to the servers and the actual servers are located in a secure location which can only be accessed by authorized personnel. We also keep your information confidential. Our internal procedures cover the storage, access and disclosure of your information.

LINKS TO OTHER SITES

This Site may contain links or references to other Websites over which we have no control. You hereby acknowledge that our privacy policy does not apply to any site other than HelpMovingOffice.com.

COOKIES

We may use "cookies” and/or other similar technology in the Site or in our communications with you. These technologies are designed and intended to make our site more efficient and convenient for Users. They include a small file stored on your computer, and can be used to store and collect information relating to your use of the Site and our communications with you. You can set your web browser not to accept cookies, but if you do so, some functions of the Site may be adversely affected.

We may also document your IP address in order to operate the Site, help diagnose problems with our server, to track User preferences and to identify our Users (see Information Use & Sharing) .

Sometimes third parties to whom you may be referred through our Site may also use cookies or other tracking technologies. We have no control over the use of Tracking Cookies by such third parties, and no responsible or liability for their use of such technologies.

CONTACT US

If you have any queries, please contact us via email at info@helpmovingoffice.com.