Definition: Usable area generally describes space available for a tenant's use; rentable area may also allocate a share of common areas under the applicable measurement standard and lease.
Example
An office tenant occupies 1,000 usable square feet but pays rent on 1,150 rentable square feet after an allocated common-area share.
Keep the distinction clear
Measurement standards vary. State which area is used when comparing rents, calculating a load factor, or evaluating lease costs.
Related terms
Keep studying
References: FREC Course II syllabus, Session 15
Comments
0 comments
Article is closed for comments.