Oklahoma Lease of Retail Store with Additional Rent Based on Percentage of Gross Receipts - Real Estate

• Category: Leases - Commercial
• State: Multi-State
• Control #: US-00818BG
• Format: Word; Rich Text

Description

This form is a commercial lease of a building and land for the operation of a retail store with a set amount of rent along with a percentage of the gross receipts of the store as additional rent. The Oklahoma Lease of Retail Store with Additional Rent Based on Percentage of Gross Receipts is a legally binding agreement between a landlord and a tenant for the rental of a retail store space within the state of Oklahoma. This lease type is commonly used in the real estate industry to establish the terms and conditions for leasing a retail space, with rent calculated based on a percentage of the tenant's gross receipts. The lease agreement outlines the specific details of the lease, including the parties involved, the lease term, the rental rate, and other provisions relevant to the lease. It ensures that both the landlord and the tenant are protected and have clear expectations. The "Additional Rent Based on Percentage of Gross Receipts" clause is a pivotal component of this lease type. This provision stipulates that in addition to the base rent, the tenant is required to pay a percentage of their gross receipts as additional rent. This arrangement allows the landlord to share in the tenant's success, as the rent amount fluctuates depending on the tenant's business performance. The percentage is predetermined and usually negotiated between the parties involved. Different types or variations of the Oklahoma Lease of Retail Store with Additional Rent Based on Percentage of Gross Receipts may include: 1. Single-tenant lease: This type of lease involves a retail store space being leased to a single tenant. The tenant is solely responsible for the lease and financial obligations. 2. Multi-tenant lease: In this lease arrangement, multiple tenants occupy different retail spaces within the same property. Each tenant's rent is determined based on a percentage of their gross receipts. 3. Short-term lease: This type of lease has a shorter duration, often less than a year, and is commonly used for pop-up stores or seasonal retail businesses. 4. Long-term lease: This lease type typically spans multiple years, providing stability and security for both the landlord and the tenant. It allows for long-term planning and business development. 5. Build-to-suit lease: This lease arrangement involves the customization of the retail store space to the tenant's specific requirements. The landlord constructs or renovates the property based on the tenant's needs, often with a higher rental rate and longer lease term. The Oklahoma Lease of Retail Store with Additional Rent Based on Percentage of Gross Receipts is a flexible and dynamic lease type that suits both landlords and tenants. It ensures a fair and transparent approach to rental payments, linking the tenant's success with their financial obligations.

The Oklahoma Lease of Retail Store with Additional Rent Based on Percentage of Gross Receipts is a legally binding agreement between a landlord and a tenant for the rental of a retail store space within the state of Oklahoma. This lease type is commonly used in the real estate industry to establish the terms and conditions for leasing a retail space, with rent calculated based on a percentage of the tenant's gross receipts. The lease agreement outlines the specific details of the lease, including the parties involved, the lease term, the rental rate, and other provisions relevant to the lease. It ensures that both the landlord and the tenant are protected and have clear expectations. The "Additional Rent Based on Percentage of Gross Receipts" clause is a pivotal component of this lease type. This provision stipulates that in addition to the base rent, the tenant is required to pay a percentage of their gross receipts as additional rent. This arrangement allows the landlord to share in the tenant's success, as the rent amount fluctuates depending on the tenant's business performance. The percentage is predetermined and usually negotiated between the parties involved. Different types or variations of the Oklahoma Lease of Retail Store with Additional Rent Based on Percentage of Gross Receipts may include: 1. Single-tenant lease: This type of lease involves a retail store space being leased to a single tenant. The tenant is solely responsible for the lease and financial obligations. 2. Multi-tenant lease: In this lease arrangement, multiple tenants occupy different retail spaces within the same property. Each tenant's rent is determined based on a percentage of their gross receipts. 3. Short-term lease: This type of lease has a shorter duration, often less than a year, and is commonly used for pop-up stores or seasonal retail businesses. 4. Long-term lease: This lease type typically spans multiple years, providing stability and security for both the landlord and the tenant. It allows for long-term planning and business development. 5. Build-to-suit lease: This lease arrangement involves the customization of the retail store space to the tenant's specific requirements. The landlord constructs or renovates the property based on the tenant's needs, often with a higher rental rate and longer lease term. The Oklahoma Lease of Retail Store with Additional Rent Based on Percentage of Gross Receipts is a flexible and dynamic lease type that suits both landlords and tenants. It ensures a fair and transparent approach to rental payments, linking the tenant's success with their financial obligations.