WHAT DOES HVAC STAND FOR?
HVAC stands for Heating, Ventilation and Air Conditioning. In the majority of commercial buildings, the HVAC is either a rooftop or separate unit that services just the tenant’s individual space, such as in most retail or shopping center buildings; or, the HVAC unit(s) may be a larger system that services an entire floor of the building, section of a building or the entire building.
It’s important to understand who is responsible for servicing, maintaining, repairing and replacing the HVAC systems that serve your space. The majority of retail properties have an individual HVAC system comprised of one or more units that are intended to serve each tenant separately, and therefor are typically the sole responsibility and cost of the specific tenant for all expenses.
Alternatively, most office buildings that have multiple tenants typically share a larger system that services multiple spaces and the cost to service, maintain, repair and replace the units is shared by the tenants as part of the NNN, Operating Expenses or CAM.