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Natural disasters such as Hurricane Ike or Tropical Storm Allison that damaged many buildings in the Houston area can interrupt operations at hundreds of businesses. But even, inoperable or faulty building equipment, a sudden freeze that causes pipes to burst or a summer thunderstorm that cuts electrical power can bring a business to a halt.
Most standard office leases…Continue
This is the time of year that most office tenants begin to receive the building’s operating expense escalation statement for the previous year of their lease term. This is the additional rent charged to the tenant to cover the increase in operating expenses for the building. Even if the operating expense escalation has been carefully negotiated in the lease document, tenants are often surprised at the amount when the bill arrives.…Continue