What is defined as the area of a building available for rent?

The term defining the area of a building available for rent is known as Net Leasable Area. This measurement specifically accounts for the total square footage that can be rented out to tenants, excluding non-rentable spaces such as common areas, mechanical rooms, and other service areas. Understanding the Net Leasable Area is crucial for both landlords and tenants as it influences rental agreements, property valuation, and the overall financial viability of leasing agreements.

Occupancy Permit relates to the permission granted to occupy a building but does not pertain to the area available for rent. A Pad Site refers to a specific plot of land designated for a building or structure, which is not directly tied to rentable space inside a building. Mechanic's and Materialman's Lien concerns the rights of contractors and suppliers to claim a lien against a property for unpaid work or materials, rather than anything related to leasing or the measurement of space within a building.