There are many terms that you should understand before leasing commercial warehouse space, like our building. We want you to feel safe before inking any deals, and in order to do so, you must be familiar with terms like “low base rate,” “low operating cost,” “low TMI,” “face rate,” and more. Windfire has compiled a basic guide to bring you peace of mind during the rental process.
Low Base Rate
A low base rate is the absolute minimum rent a tenant will pay at the beginning of their lease. In most cases, rent will increase over a fixed term, so it is important for a renter to initially seek out a low base rate. Our building offers single digit rents, an oddity in modern commercial leasing.
Low Operating Cost
Every building requires basic maintenance, utilities, and other services. All of these costs factor into the operating costs of a company. Naturally, a company wants to achieve a low operating cost as it will allow them to drive their profits into further capital expenditure and further revenue generation.
Low TMI
TMI stands for taxes, maintenance, and insurance. When renting a building, it is imperative that a company achieves a low TMI. A company must avoid extra costs if they want to increase their profits. Thus, achieving a low TMI or single digit TMI is an important goal.
If you have any questions about the definitions of “low base rate,” “low operating cost,” “low TMI,” and the desire for businesses to achieve single digit rents, please feel free to contact Windfire today. Our prime commercial space is located in Calgary, Alberta. We look forward to working with businesses all throughout the city and we hope that we can offer you a high quality workspace at an affordable price. Ian Robertson, a leasing associate at Barclay Street Real Estate Ltd., recently commented that our building “was the talk of the town at a recent Real Estate Industry reception in Calgary.” Join our family today.