Lease renewal is often a good time to re-visit any efficiency measures that were not previously implemented due to split-incentive issues in the lease or other barriers that may be addressed at the time of renewal. One of the primary goals in drafting effective lease language is aligning control with responsibility and costs with benefits. Renewal of the lease presents an opportunity to address any alignment issues in the lease that might impede the implementation of cost-effective sustainability measures. Consider any changes in laws or regulations that might afford new opportunities that were not previously available. (For example, in 2007 the California Public Utilities Commission adopted new regulations to allow sub-meters in downtown high rise buildings, allowing sub-metered tenants to only be billed for the electrical use under their direct control.) When embarking upon a lease renewal, consider any changes (implemented or proposed) in applicable third-party certification programs (such as LEED® and Energy Star®) that might impact the terms of the lease.
