Hello Amarillo Building Community,
I hope everyone is doing well and is off to a good start for 2021. I am convinced that 2021 is going to be a great year, and that is certainly our hope and prayer for each of you.
It is the time of year here at the Amarillo Building when we look at operating expenses for the previous year and perform our pass through calculations. For those of you that do not know, the pass through calculation is designed to smooth out unexpected operating expense increases. There are years that we experience increases in operating expenses that are not otherwise captured in your rental rate, and therefore, we pass through a portion of the increase as additional rent.
I am very pleased to report that we were able to control our operating expenses during 2020, and therefore, there will be no pass through expense this year. In fact, our operating expenses for 2020 were the lowest they have been since 2012. We know that managing expenses is very important to each of you as business owners and operators. Please know that we will continue to diligently manage operating expenses here at the Amarillo Building in an effort to minimize any pass through expenses to you.
Many of you recently received a statement reflecting the pass through calculations for 2020. For clarity, and to repeat the good news, there will be no pass through expense for any tenant this year. The pass through statement included with your invoice was simply intended to emphasize this point and to share this good news.
Thanks for being part of the Amarillo Building community. Our goal is to provide you with a comfortable and professional atmosphere in which you are able to be as effective and successful as possible in your ventures. Doing this together in the Historic Amarillo Building, Amarillo’s original high rise, is a tremendous privilege for us.
Have a great week!
Kevin & Ginger Nelson