Include Three Key Points in Lease Audit Provisions

Operating costs are one of the main cost concerns for both retail and office building tenants. So they’re one of the first things on a tenant’s radar when it’s looking to cut costs. A tenant trying to trim operating costs can spell trouble for you, however, if believing that it has overpaid for its share of the building’s operating expenses it decides to perform a lease audit—but you forgot to negotiate owner-favorable lease audit provisions before the lease was signed.