NRTA’s Classroom live education series is encouraging tenants to actively review the tax expenses being charged to them by their landlords. Have you reviewed yours? Office and retail tenants should regularly audit exactly what taxes are being charged to them and how they are calculated. Tenants should also evaluate what types of taxes can be included in charges to the tenant, what parcel(s) can be included, and whether or not the tenant’s share is being calculated consistent with the lease and the parties’ intent.
It is important to assert your tenant rights! A tenant should never assume that it is required to pay all taxes asserted by the landlord as a non-negotiable pass-through. Remember, a tenant’s obligations for taxes are governed by the lease and are subject to negotiation and interpretation—just like other provisions in the lease.
Tax expenses are typically a tenant’s second most expensive occupancy cost! Monitoring and controlling these expenses—whether paid directly to the taxing authority or to the landlord—is crucial for today’s professionals charged with handling personal property and real estate tax appeals and filings. Classroom LIVE is here to help!
Industry experts Brett Carter, Stephen Hall, and Susan Rebelo will tackle this must-know real estate topic during NRTA’s hands-on, interactive 4-course training series scheduled to start Tuesday, November 16, 2021.
Reserve your spot today!