Lease Audits & Benchmarking

Proactive tenants audit their lease and annually benchmark the financial terms annually against the building’s posted rental rates, the landlord’s portfolio and current market conditions to identify opportunities to reduce their occupancy costs. It is important to note BOMA will soon be introducing a new method of measurement for lab space that will financially impact lab occupiers with leases that allow landlords to remeasure their premises. Eliminating restoration provisions that obligate tenants to demolish leasehold improvements upon expiry and removing the ability for landlords to impose new methods to measure space can significantly decrease the financial exposure of tenants.