South Dakota Percentage Shopping Center Lease Agreement

• Category: Landlord Tenant - Commercial Leases - Shopping Centers
• State: Multi-State
• Control #: US-01626
• Format: Word; Rich Text

Description

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. A South Dakota Percentage Shopping Center Lease Agreement refers to a legal contract between a landlord and a tenant for the lease of a retail space within a shopping center located in South Dakota. This type of lease agreement typically specifies the terms and conditions that govern the tenant's use of the premises, rental payments, responsibilities of the landlord and tenant, as well as any additional provisions specific to shopping centers in South Dakota. In a South Dakota Percentage Shopping Center Lease Agreement, "percentage" refers to the rent payment structure based on a percentage of the tenant's gross sales or a percentage of the tenant's net income. This arrangement allows the landlord to share in the tenant's financial success by receiving a portion of their profits, in addition to the base rental payment. The lease agreement may include provisions related to common area maintenance (CAM) charges, where the tenant contributes to the costs associated with maintaining and operating the shopping center's common spaces, such as parking lots, hallways, restrooms, and landscaping. There are different types of South Dakota Percentage Shopping Center Lease Agreements based on the specific needs and preferences of the parties involved. Some common variations include: 1. Gross Percentage Lease Agreement: This type of lease agreement requires the tenant to pay a percentage of their gross sales as rent, without deducting any expenses or costs. 2. Net Percentage Lease Agreement: In this lease agreement, the tenant pays a percentage of their net income as rent, after deducting certain specified expenses such as operation costs, property taxes, insurance, and maintenance fees. 3. Step-Up Percentage Lease Agreement: This form of lease agreement includes provisions for rent increases at predetermined intervals or upon achieving specified sales targets. This allows for rent adjustments based on the tenant's business growth over time. 4. Graduated Percentage Lease Agreement: Here, the lease agreement outlines incremental increases in the percentage rent payments based on the tenant's sales performance. This provides flexibility for both the landlord and tenant, as the percentage rent can be adjusted according to the tenant's success. It is essential for both the landlord and the tenant to carefully review and negotiate the terms of the South Dakota Percentage Shopping Center Lease Agreement to ensure all obligations and rights are adequately addressed. Consulting with legal professionals experienced in South Dakota real estate laws is advisable to ensure compliance and a mutually beneficial agreement.

A South Dakota Percentage Shopping Center Lease Agreement refers to a legal contract between a landlord and a tenant for the lease of a retail space within a shopping center located in South Dakota. This type of lease agreement typically specifies the terms and conditions that govern the tenant's use of the premises, rental payments, responsibilities of the landlord and tenant, as well as any additional provisions specific to shopping centers in South Dakota. In a South Dakota Percentage Shopping Center Lease Agreement, "percentage" refers to the rent payment structure based on a percentage of the tenant's gross sales or a percentage of the tenant's net income. This arrangement allows the landlord to share in the tenant's financial success by receiving a portion of their profits, in addition to the base rental payment. The lease agreement may include provisions related to common area maintenance (CAM) charges, where the tenant contributes to the costs associated with maintaining and operating the shopping center's common spaces, such as parking lots, hallways, restrooms, and landscaping. There are different types of South Dakota Percentage Shopping Center Lease Agreements based on the specific needs and preferences of the parties involved. Some common variations include: 1. Gross Percentage Lease Agreement: This type of lease agreement requires the tenant to pay a percentage of their gross sales as rent, without deducting any expenses or costs. 2. Net Percentage Lease Agreement: In this lease agreement, the tenant pays a percentage of their net income as rent, after deducting certain specified expenses such as operation costs, property taxes, insurance, and maintenance fees. 3. Step-Up Percentage Lease Agreement: This form of lease agreement includes provisions for rent increases at predetermined intervals or upon achieving specified sales targets. This allows for rent adjustments based on the tenant's business growth over time. 4. Graduated Percentage Lease Agreement: Here, the lease agreement outlines incremental increases in the percentage rent payments based on the tenant's sales performance. This provides flexibility for both the landlord and tenant, as the percentage rent can be adjusted according to the tenant's success. It is essential for both the landlord and the tenant to carefully review and negotiate the terms of the South Dakota Percentage Shopping Center Lease Agreement to ensure all obligations and rights are adequately addressed. Consulting with legal professionals experienced in South Dakota real estate laws is advisable to ensure compliance and a mutually beneficial agreement.