Missouri Tenant Audit Provision - Pro-Tenant Perspective

State:
Multi-State
Control #:
US-OL19035A
Format:
Word; 
PDF
Instant download

Description

This office lease form is an audit provision by the tenant. The landlord shall provide to the tenant with calculations of costs and detailed along with the average building occupancy for the year. The tenant shall have the right, at its own cost and expense to audit or inspect the landlord's detailed records each year with respect to building operating costs, as well as all other additional rent payable by the tenant pursuant to the lease for any lease year.

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FAQ

Tenant shall have the right to audit Landlord's books and records relating to Operating Costs and/or Taxes with respect to the period covered by each such report within six months after receipt of such report (such six month period being called the ?Audit Period?) by delivering a notice of its intention to perform such ...

Privacy and respect. Your landlord may not enter your residence without your permission or reasonable advance notice.

A percentage lease is a lease arrangement where the tenant pays a predetermined rent plus a percentage of sales made. Percentage leases are common with retail businesses. The three components of a percentage lease are the base rent, the break-even point, and the percentage rent.

Percentage leases are most often used with retail tenants. Multi-tenant retail properties, such as malls and shopping centers, use this type of lease because it benefits both parties involved.

Percentage rent benefits both parties: Percentage rent, or a percentage lease, creates a win-win scenario for landlords and tenants by linking rental income to gross sales, encouraging collaboration and shared success.

A lease rate factor is the regular lease payment as a percentage of the total cost of the leased equipment. Stated another way, if you multiply the lease rate factor by the cost of the leased equipment, you will determine the regular payment amount.

Generally speaking, Missouri is considered a landlord-friendly state. That's because there are no laws that control rental, evictions can be carried out relatively quickly, and landlords have few habitability obligations. The following is a basic guide to the statewide Missouri landlord-tenant laws.

A percentage lease requires commercial tenants to pay to the landlord a set percentage of gross revenue earned from business conducted at the leased premises. This percentage is added on top of a base rent, but the base will be set lower than it would be on a standard lease, making it attractive to tenants.

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Missouri Tenant Audit Provision - Pro-Tenant Perspective