I have a tenant at one of our shopping centers that pays us a percentage rent above
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Question:
I have a tenant at one of our shopping centers that pays us a percentage rent above a base rent. This tenant's base rent is $6,000 per month. On an annual basis, this tenant will pay to us 8% of its gross sales for percentage rent in excess of its base rent. Sales for this tenant over the past year totaled $1.2 Million.
Does this tenant owe us any percentage rent and if so, how much?
Related Book For
Foundations of Financial Management
ISBN: 978-1259024979
10th Canadian edition
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen, Doug Short, Michael Perretta
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