negotiated area (Real Property)

The area to which the landlord and tenant agree and which is specified in the lease agreement document. With the Real Property domain, you record negotiated area by entering it in the Area - Negotiated Rentable field from the Leases tab of the Portfolio Edit task. Comparing measured and negotiated area values can indicate leases that need to be renegotiated.

Some of the domain’s calculations are based on negotiated areas; field values derived from these calculations include "Negotiated" in their titles, such as Area - Lease Negotiated field of the Properties table. Compare measured area.