ANNUAL RENT ADJUSTMENT. To partially compensate for the effect of inflation, a portion of the rental rate (viz. $7.50 per square foot per year) shall be adjusted to reflect reductions, if any, in the purchasing power of the dollar. Three separate generic elements of cost (namely: labor, materials and energy) shall be deemed to be representative of all operational costs. Indices for measuring changes in the dollar value for each of these cost elements shall be: janitorial hourly labor rate, Consumer Price Index, and the average cost per kilowatt-hour of electricity (including without limitation all demand charges), respectively. Changes in each of these shall adjust rent as provided below: Generic Element's Cost Element of Cost Index Share --------------- ----- --------------
1. Labor Janitorial rate $3.00 2. Material C.P.I. $3.00 3. Energy Average kwh cost $1.50 The base index for each of these indices shall be established from data for the month of September of the year preceding the year in which this Lease commences. Indices for each succeeding year shall be calculated annually using September experience data, and the ratio that these annual indices bear to their respective base index shall be reduced by 1.00 then multiplied by the individual element's cost share as specified in Items 1, 2 and 3 above, and by the area of Premises as set forth in Article 1(b). Each January 1, following the calendar year in which the Lease becomes effective, the Monthly Rent in Article 1(d) shall be increased by one-twelfth (1/12) of the sum of the amounts so determined. No changes in the rent as specified above shall take place during the calendar year in which the Lease Term commences. The janitorial hourly labor rate shall be that as established by the Hotel Employees Restaurant Employees, Union Local No. 8 for journeymen janitors including all applicable taxes and fringe benefits payable by employers. The labor rate to be used as a base index for this Lease shall be $12.72. The Consumer Price Index to be used shall be the Revised Consumer Price Index for Urban Wage Earners and Clerical Workers, U.S. City Average, All-Items Series (1982-1984 = 100), as published by the U.S. Department of Labor, Bureau of Statistics. If this index is revised or changed (as, for example, by taking the average index for different years as the base figure of 100), the base index shall be adjusted accordingly. In the event such index is discontinued, the index promulgated by the Department of Labor most closely
ANNUAL RENT ADJUSTMENT. The rent will be adjusted annually in the manner stipulated by law. The rent will be adjusted annually in the manner determined by law (Articles 7:252 and 253 of the Dutch Civil Code). This means that the rent can be changed at the Landlord's proposal by a percentage that is at most equal to the legally permitted percentage or amount on the effective date of such change for accommodation with a non-liberalized rent and that the tenant has the right to object to the proposal.
ANNUAL RENT ADJUSTMENT. 5.1 High-segment rental property or mid-segment rental property
5.2 The rental price will be changed annually on ……………., for the first time on ........., as laid down in articles 5.3 and 5.4. A distinction is made between:
A) the situation in which there is legislation that caps the annual rent increase (Article 5.3);
B) the situation in which there is no legislation that caps the annual rent increase (Articles 5.4). In all cases, the landlord will inform the tenant of the new rent in writing at least one calendar month before the date of commencement, stating the methodology used under the rental agreement. If the tenant does not agree to the communicated rent change, he must notify the landlord in writing no later than the date of commencement of the new rent and he has the right to terminate the rental agreement subject to a notice period of one month.
5.3 Ad A: High-segment rental property or mid-segment rental property: if legislation is in force that caps the annual rent increase
ANNUAL RENT ADJUSTMENT. Free sector rental housing
5.1 In case of a liberalized rent as referred to in art. 7:247 of the Dutch Civil Code (free sector rental housing) the rent will be amended annually on ................ , for the first time on ............... .........., as laid down in Articles 5.2 to 5.4. A distinction is made between:
A) the situation that there is legislation that maximizes the annual rent increase (article 5.2);
B) the situation where there is no legislation maximizing the annual rent increase (articles 5.3 and 5.4). In all cases, the Landlord will inform the Tenant of the new rent in writing at least one calendar month before the commencement date, stating the method used under the rental agreement.1
5.2 If in any year mandatory law exists that maximizes the annual rent increase, the rent will be increased annually by the maximum percentage resulting from that legislation. At the conclusion of this rental agreement (temporary) legislation is in force that maximizes the annual rent increase (Article 10 of the Housing Rents Implementation Act – Uitvoeringswet huurprijzen woonruimte 2). This legal provision includes two formulas for calculating the annual maximum rent increase percentage: on the one hand, based on a price index figure and, on the other hand, on the basis of a Collective Labor Agreement wage index figure. The legislator determines each year whether a price index figure is used as a basis or whether a Collective Labor Agreement wage index figure is used as a basis. The base chosen by the legislator is increased by 1% by law. The first sentence also applies to the 'middle rental segment' '(middenhuursegment') that may be introduced by law in the future, which is currently still part of the free sector, from the date of that introduction.
5.3 If in any year there is no mandatory legislation maximizing the annual rent increase, the rent will be adjusted annually in connection with the depreciation of money on the basis of the change in the monthly price index according to the consumer price index (CPI), series all households (2015 = 100), published by Statistics Netherlands (CBS). The amended rent is calculated according to the following formula:3 If the publication by Statistics Netherlands of the said index figures has been discontinued, an objective inflation index figure that is as comparable as possible will be used.
5.4 If the Landlord's operating expenses with regard to the Premises have increased by more than the rent increase percentage d...
ANNUAL RENT ADJUSTMENT. Authority will review and approve the Affordable Rents proposed by Developer for the Housing Units together with the monthly allowances proposed by Developer for utilities and services to be paid by the tenant. Developer must annually reexamine the income of each tenant household living in the Housing Units in accordance with Sections 1203 and 1214 herein. The maximum monthly rent must be recalculated by Developer and reviewed and approved by Authority annually, and may change as changes in the applicable gross Rent amounts, the income adjustments, or the monthly allowance for utilities and services warrant. Any increase in Rents for the Housing Units is subject to the provisions of outstanding leases. Developer must provide all tenants not less than thirty (30) days prior written notice before implementing any increase in Rents.
ANNUAL RENT ADJUSTMENT. The Base Rent shall be increased ---------------------- commencing on the first anniversary of the Lease Commencement Date, and on each anniversary of the Commencement Date of this Lease thereafter in an amount equal to 3% of the last preceding year's Base Rent.
ANNUAL RENT ADJUSTMENT. The minimum Base Monthly Rent set forth in Article 1.5 of this Lease shall be adjusted as follows: Beginning on November 1, 2010 through October 31, 2011 the minimum Base Monthly Rent shall be $2,861.96*. Beginning on November 1, 2011 through March 20, 2012 the minimum Base Monthly Rent shall be $2,947.82*.
ANNUAL RENT ADJUSTMENT. (OPERATING EXPENSES)....................................4
ANNUAL RENT ADJUSTMENT. 5.1 Upon the eighth anniversary of the commencement of the Lease and on such anniversary thereafter, the monthly rental for the following lease year shall be adjusted in accordance with the increase evidenced by the increase in the Bay Area All Urban Consumer Price Index for the previous 12 month period. Such annual increase shall in no event be less than 2.5% nor greater than 5%.
ANNUAL RENT ADJUSTMENT. Beginning with first day of the second Agreement Year, and each anniversary thereof, including all renewal terms (if any), Rent hereunder for such year shall be increased by 4% over the Rent applicable for the year just ended, provided that for the increase for the second Agreement Year, the Rent for the year just then ended shall be calculated as though full Rent had been charged for the year at THIRTY SIX THOUSAND EIGHT HUNDRED FORTY SIX DOLLARS.
