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Building owners should check their property's square footage. You may actually find hidden value in your property. There can be a significant difference between the usable square footage a tenant occupies and the rentable square footage they pay rent on.
In multi-tenant buildings, tenants share the common area and the industry accepts the fact that tenants should pay for their share of these spaces. There are widely accepted standards established on how to calculate the difference between usable and rentable square footage, and it can eventually have a real impact on the value of your property.
If you have been leasing space on a usable basis, after you make this adjustment your building will actually get larger, and - as a result - may be more valuable in the future.
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