Detailed lease for store space within a shopping center, with an option for rent as a percentage of gross sales.
California Shopping Center Lease Agreement - percentage rent option
State:
Multi-State
Control #:
US-808LT
Format:
Word;
Rich Text
Instant download
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How to fill out Shopping Center Lease Agreement - Percentage Rent Option?
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FAQ
Percentage leases can also benefit the property owner because they have the ability to choose the type of businesses and companies that are placed within the retail space. Accordingly, strategic leasing can attract more customers to the space, which gives the landlord the opportunity to negotiate a percentage of sales.
Here's how to calculate the leased percentage: current number of units occupied + (number of units with signed leases yet to move in) / total number of units 100%.
Percentage of Sales Taken For example, a percentage lease might require a tenant to pay 7% of all sales that exceed more than $25,000 in sales in any given month. Seven percent is a common percentage lease figure, so if a landlord wants to charge you 10% or 12%, be leery.
Percentage leases are commonly executed in retail mall outlets. This type of lease agreement is most common for businesses with notoriously large sales volumes, but even a small business that wants to set up shop in a mallto take advantage of the high volume of foot trafficmay be subject to it.
A percentage lease is a type of lease where the tenant pays a base rent plus a percentage of any revenue earned while doing business on the rental premises. It is a term used in commercial real estate.
What are car-lease incentives? Car-lease incentives are just like they sound, incentives to encourage you to lease a car. Automakers often offer car-lease incentives and promote them on their websites, as well as through commercials, radio and direct-mail ads.
10. What incentive does a retail tenant have in paying percentage rent? It realigns their interest with the landlord.
A percentage rent provision provides that if the tenant achieves a certain amount of gross sales in a given year, they will pay a percentage of such gross sales to the landlord as additional rent.