| Glossary of Terms | ||
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Curtain Wall The outside wall of a building. It usually lends no structural support to the building, but encloses the building. Floor Plan The layout of the building, or portion of a builidng showing placement of walls, rooms, closets, corridors, elevators, stairways and other areas. Gross Rent Gross Rent means the total rent with no additions. In a full service "Gross Lease" all services are typically included in your rent except those specifically quoted as an additional cost. These services generally include: nightly janitorial service; real estate taxes, common area charges, such as landscaping and snow removal; HVAC costs and repairs and maintenance. However, the definition of "Gross Rent" is sometimes subjective, and it is important for the new tenant to ask for an itemized list of all services and expenses included in the rent. HVAC Heating Ventilation and Air Conditioning. This refers to the type of climate control in your space and may include such things as hours of operation and the cost of "Overtime HVAC". Generally the cost of HVAC is included the "Gross Rent". However, it is important to understand the type of system in operation. A central system is shared by all building tenants and you have limited control over the operation of the system. Individual systems such as heat pump units offer more control, however, the operating cost of these systems may not be included in the rent and a tenant needs to understand the cost of operation and how it impacts the total "cost of occupancy". Mullion A verticle bar separating panes of window glass. Mullions are typically spaced four to five feet apart, but can be any width. Office walls are usually aligned with the window mullions. Mullion spacing can influence the amount of office space you require since the width of the office is dictated by the mullion spacing. Four foot mullion spacing results in offices that are 8,12,or 16 feet wide, Five foot mullions result in 10,15 or 20 foot wide offices, etc. Open Space Plan A configuration of office space that contains no standard walled offices. Open space, commonly referred to as a "bull-pen" typically is furnished with modular work station and desks. An open space plan is the most efficient plan for a people intensive industry such as call centers. Rentable Square Feet The amount of space that is used in calculating your rent payment. Usually the rentable square feet ("RSF") is larger than the actual space you occupy (USF or usable square feet) because of the addition of your proportionate share of the building service areas such as lobbies, corridors and other common areas in the building. In some cases this is an actual measured amount, and in some cases it is just a estimated amount. This difference between "Usable Square Feet" and Rentable Square Feet is called the "Add on Factor" or Loss Factor. It is important to know what the loss factor is in order to determine the efficiency of the space leased. A "Loss Factor" of 20% means that for every 100 square feet you pay rent on, only 80 square feet is actually contained within your space. Usable Square Feet Also known as USF, is the floor area where you can actually lay carpet and place furniture within your space. |
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