Leasing
This term refers to a temporary reduction or waiving of rent, often offered as a leasing incentive
What is abated rent?
Regular inspections of this system are crucial to ensure tenant temperature comfort and energy efficiency
What is the Heating, Ventilation and Air Conditioning (HVAC) system?
This is how frequently you would update your tenants regarding construction activity.
What is once per week or "weekly lookahead"?
You may need to add comments and identify the comparison of the budgeted expenses to actual expense on this financial report
What is a budget variance report?
A marketing firm occupies 5,000 sq. ft. in a 250,000 sq. ft. building and pays a portion of shared operating costs based on this calculation.
What is Pro Rata Share?
This process involves applying sealant around exterior glass from the outside to improve weatherproofing and reduce leaks.
What is wet glazing?
This is the project manager and company overseeing the redevelopment at Terminus 200.
Who is Katherine Zanaty at Yellow Bird?
This is the journal entry used to record an expense for work that has been completed but not yet paid in a particular month.
What are accruals?
This document captures incomplete or deficient work before final acceptance of a space or project from the general contractor or vendor.
What is a punch list?
This air filter is recommended for most Cousins buildings HVAC systems to improve indoor air quality if the system can handle it.
What is a MERV-13 filter?
This type of meeting is often held between property management, construction teams and vendors to ensure all redevelopment phases are on track.
What is an OAC meeting (or construction coordination meeting)?
This report is a complete record of every financial transaction over a specific period.
What is the general ledger?
These are two onsite vendor partners you need to alert of an upcoming leasing tour in your building.
Who is janitorial (to ensure the space is clean); who is security (to make sure the space is unlocked and lights are on before your tour)?
This system collects rainwater from rooftops and other structures, stores it, and then utilizes it for various building functions ie cooling tower, irrigation, etc.
What is a rainwater reclamation system or rain collection system?
This is the general term for the process of tearing down or removing parts of a structure to prepare for new construction or renovation.
What is demolition?
One refers to costs to run and maintain a building on the day-to-day basis, while the other is for major building improvements and/or upgrades
What are operating expenses vs. capital expenses?
Funding provided by the landlord to help the tenant buildout or renovate their space.
What is tenant improvement allowance? (TI)
This intelligent elevator system helps with reducing security risk, granting access to only those who should have access to certain floors, reduces wait and travel times throughout the building.
What is elevator destination dispatch?
These funds are a set aside amount to cover unexpected expenses or changes during construction projects.
What is contingency?
One is the money Cousins owes and pays out to their suppliers and vendors, while the other is money tenants owe and payout to Cousins.
What are accounts payables vs. accounts receivables?