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Term

Lettable area

Areas of buildings are described as lettable areas when they are assigned to one or several users within the framework of rental contracts. The lettable area is normally measured in m². In some cases, areas which are rented are also described as so-called (special) rental objects in a different measurement unit (e.g. number of parking spaces, (garden) usage times, etc.). According to the Society of Property Researchers (gif), in the commercial realm, the following areas are included in the lettable area: office premises, adjoining rooms (kitchenette, copying room), ancillary spaces (restrooms), entrance and reception areas, movable rooms (convertible partition walls), as well as circulation areas (corridors, lift lobbies).