Base rent
The fixed rent in a commercial lease before any added charges like CAM, taxes or percentage rent. It is usually quoted per square foot per year and often rises by set amounts over the term.
Also called: minimum rent, face rent, base rental rate
Related terms
A lease where the tenant pays base rent plus its share of property taxes, insurance and maintenance. The landlord's income is more predictable, and the tenant takes on rising operating costs.
A lease where the tenant pays one flat rent and the landlord covers property taxes, insurance and maintenance out of it. Common in office buildings and residential rentals.
Fees tenants pay for upkeep of shared areas like parking lots, lobbies, landscaping and security, usually split by each tenant's share of the space. Estimates are billed monthly and reconciled once a year.
A tenant's usable space plus its share of building common areas like lobbies, corridors and restrooms. Commercial rent is usually charged on rentable, not usable, square feet.
A contract between a landlord and tenant that sets the rent, term, deposit and rules for using a property.