Percentage For Rent
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FAQ
Practical Example A retail tenant leases 5,000 square feet and pays $5 per square foot per month in rent. Furthermore, the retail tenant's agreed with the landlord that if monthly sales exceed $100,000, they will pay 5% of additional sales past that threshold ($100,000) as variable rent.
The formula for calculating percentage rent with a natural breakpoint is: (Gross Sales ? Natural Breakpoint) x Agreed-Upon Percentage = Percentage Rent. (Gross Sales ? Artificial Breakpoint) x Agreed-Upon Percentage = Percentage Rent. Gross Sales x Agreed-Upon Percentage = Percentage Rent.
A popular standard for budgeting rent is to follow the 30% rule, where you spend a maximum of 30% of your monthly income before taxes (your gross income) on your rent. This has been a rule of thumb since 1981, when the government found that people who spent over 30% of their income on housing were "cost-burdened."
Add all your incomes together and then calculate what percentage each of you brings to the income table. Then multiply the total rent owed by each person's percentage to get the rent each person should pay.
Splitting rent based on income The way you can work this out is to look at everyone's take-home pay, work that out as a percentage of the full household income then you'd each pay that percentage of the total rent.