A retail lease provides for a base rent of $50 per square foot and overage rent based on 10% of sales in excess of $500 per square foot. The tenant’s sales are projected to be $800. What is the overage rent?
A.$30 per square foot
B.$50 per square foot
C.$80 per square foot
D.$100 per square foot
2006-12-16 11:30:10 · 5 answers · asked by pretty smile 2 in Business & Finance ➔ Renting & Real Estate
C $80/sq ft.
Short method: take the greater of 10% of sales/sq ft or $50/sq ft.
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Oops, the overage rent is A $30/sq ft, total rent is $80 = $50 base + $30 overage.
2006-12-16 11:32:41 · answer #1 · answered by feanor 7 · 0⤊ 0⤋
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RE:
What is the overage rent?
A retail lease provides for a base rent of $50 per square foot and overage rent based on 10% of sales in excess of $500 per square foot. The tenant’s sales are projected to be $800. What is the overage rent?
A.$30 per square foot
B.$50 per square foot
C.$80 per square foot
D.$100 per square...
2015-08-08 20:18:53 · answer #2 · answered by Anonymous · 0⤊ 0⤋
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If the lease says water is included then he can't charge you for an overage unless there is an exception clause that says it only includes the water bill up to a certain amount. Respond to this request by including a copy of your lease and highlight where it says that water is included. Then include a note that water is included in the rent with no maximum usage specified. In other words, politely tell him to shove it.
2016-04-01 09:08:08 · answer #3 · answered by Rebecca 4 · 0⤊ 0⤋
Does your lease say that the place includes water, or that it includes water up to X dollar amount? If it includes water, then the LL pays for it no matter what the bill is. If it is up to X dollar amount, you pay whatever went over.
2016-03-19 12:48:12 · answer #4 · answered by Anonymous · 0⤊ 0⤋
tee hee someone taking their realtor courses?
2006-12-16 11:34:43 · answer #5 · answered by Gig 5 · 0⤊ 0⤋