NET LETTABLE (RENTAL) AREA (NLA)

The area of a building that can be let to tenants. It is less than the gross building area as it excludes such things as walls, common areas, and lift wells. In cases of dispute, the true area should be ascertained by a surveyor. Equivalent to gross floor area as defined above. There may be a lease or sub lease plan referred to in the lease document.


The inside area of a building to be leased. Sometimes called “carpet area”. The calculation of the NLA will depend on the particular formula used by will exclude common and service areas.


Compare with gross lettable area (GLA) or gross area.