Real estate cost summary section
Use this section of the form to identify the average annual rent, annual operating expenses, total commitments, or other real estate costs for the record.
| Item | Description |
|---|---|
| Average Annual Rent | The total rental expense minus the total rental income, which is divided by the number of years in the lease. |
| Annual Operating Expenses | The total annual operating expenses that include the total annual parking expenses in the lease. |
| Rent Expense per Area | The average annual rent that is divided by the proposed rentable area. |
| Operating Expense per Area | The annual operating expenses that are divided by the proposed rentable area. |
| Total Cost Per Area | The total commitments that are divided by the number of years in the lease, and divided by the proposed rentable area. |
| Total Leasehold Improvements | The total improvement costs over the life of the lease. |
| Total Commitments | The total expenses minus the total income over the life of the lease. The total expenses include the total rental expense, total operating expenses, total parking expenses, total leasehold improvements, and other related costs. The total income includes the total rental income, total incentive allowance, total sale price, and other related income. |
| Monthly Incentive Allowance | The monthly income that provides the incentive for the lease. |