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Meaning of Rentable Space

By
Commercial Real Estate Agent with RE/MAX West Realty Inc., Brokerage (Toronto)

Meaning of Rentable Space

Question:

 

Which one of these would be accurate?

 

1. rentable space is the tenant’s space plus the common areas.

2. useable space is the tenant’s space plus the common area.

 

Answer:

 

#1 would be correct.

The tenant uses certain space themselves, that's the "useable space".

There are often additional common areas for which the Tenant must pay their proportionate share.

The two together compromise the rentable space which is used as a multiple for determining the total rent.

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