Our Building Operating Cost Addendum
("BOCA") is designed to provide tenants, brokers and attorneys
with language which will help protect tenants from the rising costs
of building operating expenses. While there are many "exclusion
lists" on the market, it is very hard to negotiate approximately
one hundred exclusions. Therefore, we have narrowed this list to approximately
the top twenty-five which, when implemented properly, will give the
tenant the protection it needs.
The downloadable BOCA documents below are CyberLease's most
up-to-date versions of these documents. We have continually revised
them over the years to reflect new issues uncovered in CyberLease's
experience across the country. We are currently on version number
28.
As
the real estate industry and economic climate continually evolve,
these documents will be frequently revised to remain on the cutting
edge of the issues affecting tenants. If you would like to automatically
receive these updates click here
to receive CyberLease's "BOCA Alert" e-mail.
1) Download and save
the version appropriate for the deal structure you desire. If you
are not sure which to use, contact us.
2) Have your attorney
conform all defined terms to those in the body of the lease.
3) There are two "Audit
by Tenant" paragraphs. Select the "Audit by Tenant"
provision which reflects the leverage you have in the negotiations.
The first one is very pro-tenant and can really only be used when
you have substantial leverage in the negotiations. The second one
is a more "negotiated" paragraph both the tenant and landlord
can accept.
4) Have Counsel Review.
CyberLease does not provide legal services and cannot ensure the
applicability of the BOCA to your lease.
DOWNLOAD:
Last updated on: November 9th, 2006
| BOCA
- Base Year |
For
use with base year structured leases. |
 |
| BOCA
- Expense Stop, NNN, other |
For
use with lease utilizing an expense stop, triple net or stipulated
base operating cost structure. |
|
|
