For the purposes of calculating rent, understanding the measurement of a space is important for all tenants. We almost always get this question from new clients: What is the difference between usable square feet (USF) and rentable square feet (RSF)?
The USF is the space you physically occupy. It’s calculated as if the interior structure did not exist (e.g. columns and interior walls). The RSF is composed of USF in addition to the common areas of a building (e.g. lobbies, restrooms, hallways, electrical rooms, etc.). Since all tenants receive a benefit from the common areas, they must pay rent on those shared spaces.
When comparing different spaces, tenants need to focus on the “load factor” (the difference between the RSF and USF). The lower it is, the more it is indicative of a building’s efficiency – giving the tenant more usable space for the rental dollar. Landlords and their representatives should be able to provide those numbers.
Contact us to learn more about load factors of medical office buildings. We like to be certain our clients get the biggest bang for their buck and they are not overpaying for the value of their spaces.