base rent

Definition

The minimum fixed rent amount in a commercial lease before any additional charges like utilities, insurance, or common area maintenance are tacked on. It's the starting point before your landlord creatively explains why you owe much more.

Example Usage

The base rent was $25 per square foot, but with all the triple-net charges, the effective rent was closer to $38.

Origin

Commercial real estate leasing terminology, established in post-WWII commercial development boom

Fun Fact

In some retail leases, base rent can be lower than market rate because landlords make their real money from percentage rent based on the tenant's sales.

Source: Commercial leasing standards and practices

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