A lease, found
primary in the retail sector, under which
the tenant pays a fixed minimum monthly rent
plus a percentage of gross monthly income in
excess of base sales calculated using the
minimum rent.
Most percentage
leases require the following:
Having the tenant
report of monthly sales figures to
enable the landlord to receive monthly
interim cheques for any percentage rent
due, rather then having to wait until
the end of the year
Landlords justify
collecting percentage leases, due to the
overall success of the shopping mall,
meaning that the tenant is successful due to
the fact that they are located first and
foremost within a successful shopping
centre.
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