Question
A retail tenants lease indicates the following rent clause: Tenant to pay a base (minimum) rent of $18 per square foot per year on a
A retail tenants lease indicates the following rent clause:
Tenant to pay a base (minimum) rent of $18 per square foot per year on a total rentable area of 12,875 square feet. In any month that the tenants gross sales exceeds the natural breakpoint, a percentage rent of 3% will added to that months rent.
|
| Gross Sales |
| January | $750,000 |
| February | $600,000 |
| March | $680,000 |
| April | $640,000 |
Calculate the total monthly rent that would be charged for FEBRUARY based on this lease and the merchant's gross sales.
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Money Banking And Financial Markets
Authors: Stephen Cecchetti, Kermit Schoenholtz
6th Edition
1260226786, 9781260226782
