This form is for the lease of property to be used as a shopping center. The landlord warrants that the demised premises may be used, but not limited to such use, by tenant, among others, for the conduct of a mercantile business of the type and kind known as a variety store, discount store, dollar store or variety discount store.
Queens, New York is known for its vibrant shopping scene, offering a wide range of shopping centers and retail spaces for businesses to thrive. One of the most common types of lease agreements in this area is the Queens New York Percentage Shopping Center Lease Agreement. In a Percentage Shopping Center Lease Agreement, the tenant's rent is calculated based on a percentage of their gross sales. This type of lease is particularly popular in shopping centers where multiple businesses operate and share common spaces. It offers flexibility for both landlords and tenants, as the rent is directly tied to the tenant's performance. There are different variations of Percentage Shopping Center Lease Agreements available in Queens, New York, depending on the specific terms negotiated between the landlord and the tenant. Some of these variations include: 1. Base Percentage Lease Agreement: In this type of lease, a base percentage is established that serves as the benchmark for calculating the tenant's rent. For example, if the base percentage is set at 10%, and the tenant's gross sales amount to $100,000, their monthly rent would be $10,000. 2. Step-Up Lease Agreement: This lease agreement includes provisions for increasing the tenant's rent gradually over time. The step-up clauses are typically triggered by specific milestones or predetermined periods, ensuring that the rent aligns with the tenant's growing success. 3. Graduated Percentage Lease Agreement: With this type of lease, the percentage rent is structured in tiers. The tenant pays a lower percentage on their initial gross sales, but as their sales increase, the percentage also escalates. This incentivizes tenants to invest in their businesses to reach higher sales levels. 4. Percentage-Over-Base Lease Agreement: In this lease agreement, the tenant pays a percentage of their gross sales exceeding a certain base amount. For example, if the base amount is $50,000 and the agreed percentage is 8%, and the tenant's gross sales reach $80,000, they would pay 8% of the $30,000 exceeding the base amount. 5. Percentage Rent with Caps: This lease agreement incorporates a maximum rent amount, limiting how much a tenant has to pay even if their gross sales surpass all expectations. This protects the tenant from unforeseen circumstances where their sales may skyrocket for a short period. Queens, New York Percentage Shopping Center Lease Agreements offer a flexible and fair solution for both landlords and tenants. By tying the rent to the tenant's performance, it encourages businesses to thrive and rewards them for their success. Each variation of the lease agreement provides different benefits and considerations that landlords and tenants can negotiate to suit their specific needs and goals.
Queens, New York is known for its vibrant shopping scene, offering a wide range of shopping centers and retail spaces for businesses to thrive. One of the most common types of lease agreements in this area is the Queens New York Percentage Shopping Center Lease Agreement. In a Percentage Shopping Center Lease Agreement, the tenant's rent is calculated based on a percentage of their gross sales. This type of lease is particularly popular in shopping centers where multiple businesses operate and share common spaces. It offers flexibility for both landlords and tenants, as the rent is directly tied to the tenant's performance. There are different variations of Percentage Shopping Center Lease Agreements available in Queens, New York, depending on the specific terms negotiated between the landlord and the tenant. Some of these variations include: 1. Base Percentage Lease Agreement: In this type of lease, a base percentage is established that serves as the benchmark for calculating the tenant's rent. For example, if the base percentage is set at 10%, and the tenant's gross sales amount to $100,000, their monthly rent would be $10,000. 2. Step-Up Lease Agreement: This lease agreement includes provisions for increasing the tenant's rent gradually over time. The step-up clauses are typically triggered by specific milestones or predetermined periods, ensuring that the rent aligns with the tenant's growing success. 3. Graduated Percentage Lease Agreement: With this type of lease, the percentage rent is structured in tiers. The tenant pays a lower percentage on their initial gross sales, but as their sales increase, the percentage also escalates. This incentivizes tenants to invest in their businesses to reach higher sales levels. 4. Percentage-Over-Base Lease Agreement: In this lease agreement, the tenant pays a percentage of their gross sales exceeding a certain base amount. For example, if the base amount is $50,000 and the agreed percentage is 8%, and the tenant's gross sales reach $80,000, they would pay 8% of the $30,000 exceeding the base amount. 5. Percentage Rent with Caps: This lease agreement incorporates a maximum rent amount, limiting how much a tenant has to pay even if their gross sales surpass all expectations. This protects the tenant from unforeseen circumstances where their sales may skyrocket for a short period. Queens, New York Percentage Shopping Center Lease Agreements offer a flexible and fair solution for both landlords and tenants. By tying the rent to the tenant's performance, it encourages businesses to thrive and rewards them for their success. Each variation of the lease agreement provides different benefits and considerations that landlords and tenants can negotiate to suit their specific needs and goals.
Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés.
For your convenience, the complete English version of this form is attached below the Spanish version.