Tuesday, October 9, 2007

What do these terms mean? (office space realtor)

I got a message asking me the following question:

Dear office space realtor,

As I accompanying my friend who is looking for an office space for lease, I hear few words that get thrown around. Could you help me out
office space realtor and explain in simple ways what these terms mean?

1. Usable square footage
2. Rentable square footage
3. Load factor


Here's a reply I got from a friend of office space realtor:

"Well Jan. R. , usable square footage or sometime it is called usable square feet or USF is simply the floor area within your space
where you actually can lay out the floor carpet to place your furnitures."

Office space realtor continues, "Okay about rentable square footage or feet or RSF, it's the total office space that's used to calculate your rent payment. RSF is normally larger than USF because of additional building space areas like corridors, lobbies ets. proportionate to your office space of that building."

"Because of this difference between RSF and USF known as Load Factor or sometimes called "Add on Factor" or loss factor. When looking for office space for lease, this factor is important for you to know so that you can actually know the actual useful occupiable office space that you are paying. And if yougot a loss factor say 10%, that means for rent you pay fo let say 200 square feet, you actually only have a space of 180 square feet," pointed out the office space realtor.

Hope this helps....office space realtor