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Accurate Measurements: The Key to Fair Leasing Agreements
Imagine a tenant disputes their lease agreement, claiming they’ve been overpaying due to inflated square footage calculations. A discrepancy of just a few hundred square feet could cost tens of thousands of dollars in backpay, legal fees, and damaged relationships.
Unfortunately, this scenario isn’t uncommon. Many lease agreements are based on unvalidated data, leaving property managers and owners vulnerable to financial risk.
The Hidden Cost of Inaccurate Measurements
In retail, industrial and commercial properties, square footage discrepancies directly affect lease rates, operating expenses, and even property valuations. Without precise measurements, you’re essentially leaving money—and trust—on the table.
The Professional Solution: Retail as-built and Building Documentation Services
Here’s why partnering with professionals offering Retail as-built documentation and building documentation services is essential:
- BOMA-Compliant Calculations: Professionals use established standards, like BOMA, to ensure accurate and defensible square footage measurements.
- Precise Space Validation: Retail as-built documentation captures every detail of your property, eliminating guesswork and reducing the risk of disputes.
- Risk Reduction: Accurate measurements provide confidence in your lease terms, protecting both your revenue and your reputation.
A Real-World Example
In a recent retail property project, a building documentation services team discovered a 1.5% error in the reported square footage. For a 50,000-square-foot property, this discrepancy represented $75,000 in annual leasing revenue. Correcting the measurement not only safeguarded the owner’s income but also prevented a potential tenant dispute.
Why It Matters
Accurate Retail as-built, industrial and commercial office documentation isn’t just about compliance—it’s about fairness and transparency. By partnering with building documentation professionals, you’re protecting your bottom line and fostering trust with your tenants.
What’s Coming Next?
How can regular updates to your building documentation future-proof your property? In our next post, we’ll explore the importance of keeping your data current to meet evolving needs and challenges. Stay tuned—you won’t want to miss it!
