Detailed lease for store space within a shopping center, with an option for rent as a percentage of gross sales.
Percentage Rent Explained
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
(a) Beginning with the first lease year, Tenant shall pay to the Landlord, in addition to minimum rent, upon the conditions and at the times hereinafter set forth, percentage rent equal to two percent (2%) of Tenant's gross sales (as hereinafter defined) in excess of the number obtained by dividing (a) minimum rent for ...
Generally, your business should budget 2% to 20% of sales for rent costs.
The percentage rent is typically calculated when the clients have paid a base rent, and factors in the tenant's gross sales as a point of measurement in determining the percentage rent payable.
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.