A year of work by a group of savvy, commercial real estate professionals has resulted in the Model Green Lease. This new lease document brings the green building movement to the economic center of commercial real estate – the lease agreement between the landlord and tenant.
The Model Green Lease was crafted by a task force of attorneys, real estate brokers, corporate tenants, landlords, and green building consultants from both sides of the negotiating table. Collectively, they have negotiated thousands of office building leases.
The task force chair is B. Alan Whitson, RPA, president of the Corporate Realty, Design & Management Institute. Whitson launched the Model Green Lease project, having grown frustrated by the industry’s lack of progress in overcoming the biggest financial obstacle to green buildings – the so-called “split-incentive.”
The task force started with a blank sheet of paper and a single goal: Create a lease document that encourages green office buildings, maximizes the return on investment for green buildings, and provides a healthy and productive workplace. It’s unbiased – written to balance the financial and operational needs of landlords, tenants, lenders and investors.
Besides covering IAQ, energy use, carbon credits, water consumption, recycling, green cleaning specifications, insurance, commissioning, operating costs, tenant improvements, and building regulations, the Model Green Lease includes a requirement for an annual Environmental Performance Report. It’s consistent with ASHRAE, Energy Star, Green Globes, and LEED. You can use it to lease any new or existing building, or complete a lease on an office building that for various reasons may not be seeking certification.
What you will receive when Purchasing The Model Green Lease:
- A model lease document in electronic file format
- A modifiable copy to use for your leasing transaction
- A reference guide on how to use the Model Green Lease