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Meet Bill Rapp

NMLS ID # NMLS # 228246

William Rapp, based in Houston, TX, US, is currently a Capital Advisor at Medallion Funds, bringing experience from previous roles at eXp Commercial, NEXA Mortgage, Viking Enterprise LLC and Sun Realty - Houston. William Rapp holds a 1997 - 2001 BBA in Finance @ Texas A&M University. With a robust skill set that includes REO, Sellers, SFR, FHA financing, Reverse Mortgages and more, William Rapp contributes valuable insights to the industry.

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Understanding Rentable Square Footage (RSF) in Commercial Real Estate!

May 31, 20242 min read

Understanding Rentable Square Footage (RSF) in Commercial Real Estate!

In commercial real estate, Rentable Square Footage (RSF) is a key metric that determines the amount of space available for lease within a building or property. Understanding RSF is crucial for both landlords and tenants as it directly impacts the cost of occupancy. Let’s break down what RSF means and how it influences office leasing costs:

Usable Square Feet (USF)

Usable Square Feet (USF) represents the actual space occupied by a specific tenant. This includes offices, conference rooms, and other areas directly used for business operations. USF excludes common areas shared by all tenants, such as lobbies, restrooms, stairwells, and storage rooms.

Rentable Square Feet (RSF)

Rentable Square Feet (RSF) combines the tenant’s usable square footage with a portion of the building’s shared or common space. These common areas contribute to the overall functionality of the building and include amenities like hallways, elevators, fitness centers, and lobbies. Each tenant pays for these common areas based on their leased space proportion. RSF is calculated as the sum of USF and the pro-rata share of common areas.

Load Factor (LF)

The load factor accounts for common areas and is expressed as a percentage (typically between 10% and 20%). It adjusts the usable space to account for shared amenities.

The formula for calculating rent based on RSF is:

* Rentable Square Footage = Usable Square Footage + (Usable Square Footage × Load Factor)

* Rent = Rentable Square Footage × Rental Rate

Why Load Factor Matters

The load factor ensures that tenants contribute to the maintenance and use of common spaces. No two buildings have identical common areas, so spaces with the same RSF may differ significantly in usable space. Understanding the load factor helps tenants evaluate the best fit and value for their office space. Surprisingly, load factor information is often missing from marketing materials and industry databases, and it’s not uncommon for listing brokers to be uncertain about the building’s load factor when showing spaces.

In Summary

Understanding RSF, load factor, and usable space is essential for making informed decisions about office leasing. These metrics help tenants and landlords navigate the complexities of commercial real estate, ensuring transparent and fair leasing practices.

 

Should you need an experienced Commercial Real Estate Mortgage Broker, please feel free to contact me at 281-222-0433.

https://medallionfunds.com/bill-rapp/

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© 2023-2024 Bill Rapp, Medallion Funds LLC, Director of Capital Advisory


Rentable Square Footage (RSF)commercial real estateUsable Square Feet (USF)common areasLoad Factor (LF)office leasingPro-rata Sharemaintenanceleasing costsRental Rate
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Bill Rapp - Commercial & Residential Mortgage Broker

Whether you're a first-time homebuyer, a seasoned investor, or a business owner with ambitious plans, securing the right financing is crucial. At Medallion Funds, we take the guesswork out of mortgages, offering a comprehensive suite of residential and commercial loan options to fit your unique needs. Looking for Your Dream Home? We understand the excitement and challenges of navigating the residential real estate market. Our experienced mortgage brokers will guide you through every step, from pre-qualification to closing. We offer a variety of loan programs to suit your financial situation, including: • Fixed-rate mortgages: Offering stability with predictable monthly payments. • Adjustable-rate mortgages (ARMs): Providing competitive rates for a set period. • FHA loans: Making homeownership accessible with lower down payments. • VA loans: Rewarding veterans with attractive rates and flexible terms. Investing in Your Business Future? Growth often requires capital, and we can help you unlock the potential of your commercial property. Our brokers specialize in a wide range of commercial loan options, including: • Purchase loans: Financing the acquisition of new buildings or land. • Construction loans: Facilitating the development of your project. • Refinance loans: Restructuring your existing mortgage for better terms. • SBA loans: Providing access to government-backed financing for qualified businesses. The Medallion Funds Difference: We go beyond simply finding a loan. We take the time to understand your goals and develop a personalized strategy. Here's what sets us apart: • Expertise: Our brokers have a deep understanding of both residential and commercial lending. • Competitive Rates: We leverage our strong lender relationships to secure the best possible terms. • Streamlined Process: We handle the paperwork, keeping you informed every step of the way. • Exceptional Service: We're committed to providing you with a positive and stress-free experience. Ready to Take the First Step? Contact Medallion Funds today for a free consultation. Let's discuss your financing needs and help you achieve your dreams!

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This is not an offer to enter into an agreement. Not all customers will qualify. Information, rates and programs are subject to change without notice. All products are subject to credit and property approval. Other restrictions and limitations may apply. Copyright © 2021 | Medallion Funds


Corporate | NMLS ID NMLS # 1825831

Corporate Address : 11920 Southern Highlands Parkway, Suite 302, Las Vegas, NV 89141

Corporate NMLS NMLS # 1825831 | Company Website: https://medallionfunds.com/bill-rapp/

Copyright ©2021 | Mortgage Viking Team Licensed to Do Business | NMLS # 228246

This is not an offer to enter into an agreement. Not all customers will qualify. Information, rates and programs are subject to change without notice. All products are subject to credit and property approval. Other restrictions and limitations may apply

Corporate | NMLS ID NMLS # 1825831

Corporate Address : 11920 Southern Highlands Parkway, Suite 302, Las Vegas, NV 89141 https://medallionfunds.com/bill-rapp/