170, RE: leasing location Posted by bizdev, Fri Jun-29-07 07:03 AM
In my area $15 - $25 psf is the norm.
In addition to the property taxes, you may also be responsible for CAM charges (common maintenance fees). So if you are told the rental rate is $15 psf, ask if that includes CAM and property taxes. The CAM rate is usually about $2 - $5 psf. Also be aware that if you negotiate a rental rate of $15 for the first two years with an increase of 3% per year thereafter....the property tax and the CAM charges can be increased at any point for any amount. Don't assume that your monthly payment won't increase until year 3 (as in the example here).
I cover lease negotiation in detail below.
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