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) Percentage Rent Calculation (10 points) I have a tenant at one of our shopping centers that pays us a percentage rent above a base
) Percentage Rent Calculation (10 points)
I have a tenant at one of our shopping centers that pays us a percentage rent above a base rent. This tenants 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?
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