When you rent a space, you may not be aware that you pay for more space than you occupy. There is a big difference between rent-able space and useable space. It can be useful to be aware of this when looking at renting a place. Here is some information about the discrepancies between rented space and useable space.
Rent-able Square Footage:
This is most simply the area of enclosed building space other than stairwells, elevators and other “holes†in the floor. If there is floor that you can stand on, it is part of your rented space, so you pay for it regardless of whether you can actually use it.
Useable Square Footage:
This is generally the amount of space that you actually inhabit or are able to utilize in a given building space. This can often include common areas that you utilize with other tenants, such as restrooms, janitorial closets, the building lobby, and electrical or mechanical rooms.
Common Area Factors:
This refers to the shared space on a single floor and within the entire building and includes the amenities that all building tenants use. Quotes on monthly rent for the building space can vary based on whether the amenities are on a certain floor or for all the tenants in the building.
- Floor Common Area Factor:Â The common areas, on a specific floor, are only available for tenants on that floor. This usually covers about 8% of the floor, which you are paying for in your monthly rent.
- Building Common Area Factor:Â Common areas for all the tenants in the building generally ranges from 6-8% but can go up to 12-20%, depending on the design of the building.
Contact Parkwest General Contractors for all of your construction needs. Know the difference between rent-able and useable space and let them get you the right amount of space for your needs.
