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Lease escalations are common clauses that make your rental payments go up on an automatic basis. Since they build over time, even small changes in their terms can have significant long-term effects.
Rent is more than a Broadway hit. In fact, for many facility and property managers, it is the life blood of their organization. For a manager in the built environment, rent, simply defined, is payment by a tenant to the landlord to occupy leased premises. This article will explore fixed rent, rent escalation options, percentage rent, and the how base rent and additional rent are employed.
Rent escalation is a lease provision in which the landlord requires the tenant to pay a higher aggregate rent by adjusting the annual base rent by an agreed method during the term of the lease agreement. There are two reasons for this.
1.to increase the building's revenue and, therefore, its value
2. to ensure that the base rent will keep up with inflation
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