Realserve was tasked with helping the Auckland District Law Society (ADLS) better understand the value of having survey accurate measurements to determine the rental area of a leased space.
We explained how measurement guidelines can affect areas, the difference between the four methods of measurement, and highlighted areas to be included and excluded, in accordance with the NZ Property Council guidelines.
Watch the video below to hear our New Zealand manager, Rhys Smith, explain dealing with Commercial Leases from a surveying point of view. Don't hesitate to contact us to find out more on this subject and how we can help you.
At Realserve we understand that it is critical to know the accurate rentable area of your commercial property, and a precise Rentable Area Survey is essential for this. A measured survey of your floor space is required to assist with precise rental calculations or property valuations.
Below is an example of a Commercial Rentable Area Survey that we can provide to you.
Do I require a Rentable Area Survey?
Yes, if you don't have a plan, your plan is not clear, or your plan is not compliant with the current method of measurement guidelines. Whether you are a legal professional, landlord, or tenant, we recommend considering the following to ensure your rentable area is accurate.
The below questions will assist you in determining whether the plan you have is suitable:
- Have your plans been prepared by a Rentable Area Survey specialist?
- Do your plans clearly state a survey date?
- Plans should be ‘as measured’ I.e. NOT based on architectural or marketing drawing
- Have there been multiple revisions? If so, are you sure you have the most current version?
- Do your plans state that they are measured in accordance with the current method of measurement guidelines?
- Has the correct method of measurement been applied?
- Have there been any changes to the premises since the areas were calculated? The method to be used is determined by the use of the premises and the inclusions and exclusions are unique to the different methods.
NOTE: A change in premises use will most likely affect the area and new calculations will be required – for example, the areas may be calculated to the external face of a wall rather than the internal face, increasing the area.
- Are the plans clear and do they provide the information you need?
- Are inclusions clearly outlined? E.g. Exclusive Zones (Outdoors) and other negotiated areas
- Are exclusions clearly outlined? E.g. Base building areas, voids over stairs, mezzanines, low head heights at stairs, etc.
- Are lease lines labelled? E.g. Line of Tenancy Produced (LTP) where lease lines have been negotiated.
If you cannot confidently answer any of the above questions, your local Realserve representative can call you to discuss your Rentable Area Survey requirements. Click to have one of our experts call you.