TARP

Outside of Wall Street, TARP really means “Tenant’s Audit Rights Provision”. Do your leases contain this crucial protection?

In tough times especially, landlords aggressively bill operating costs to their tenants.  A well-worded TARP gives tenants the power to keep the landlords honest.  Landlords resist TARPs because they don’t want to expend resources opening their books to tenant scrutiny and possible criticism, even if everything is on the up-and-up.

In all new leases, or at renewal time, push for a strong TARP.  If you do, you may not need a bailout when the CAM bills come due.