In this article, our Peoria commercial real estate attorneys discuss the charges that commercial tenants may be required to pay in addition to base rent. These may include a share of taxes, utilities and common maintenance charges.
The additional rent will change from year to year. If you believe your landlord is overcharging you, the best solution is to audit the landlord's expenses and verify that the common maintenance charges are being charged at market value, as opposed to an inflated price because of either a sweetheart deal or landlord embezzlement.
For this reason, it is in your best interest for your lease to include a clause that gives you the right to audit the landlords’ records. If your lease does not include this clause, then the landlord is not required to provide records.
Read the full article by our Peoria commercial real estate contract attorneys regarding common area maintenance audits.