What is Usable vs. Rentable Square Feet (Load Factor)?
Usable square feet is the space a commercial tenant actually occupies, while rentable square feet adds a share of common areas (lobbies, hallways, restrooms) and is what rent is charged on. The difference, expressed as the 'load factor' or 'common area factor,' means tenants pay for more than just their suite. Comparing load factors helps judge competing spaces fairly.
Example: A suite has 1,000 usable square feet but 1,150 rentable square feet due to a 15% load factor, so rent is charged on 1,150 — the extra reflects shared lobby and hallways.