IN THE WORKS

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A Tenant’s Quick Guide to Percent Rent: What You Need to Know

If you're leasing a commercial space, you might come across a lease structure that includes percent rent. This model allows you to pay a base rent plus a percentage of your gross sales, which can be a great option for businesses looking to manage costs during slower sales periods. But how does percent rent work from a tenant’s perspective, and what should you keep in mind when it's time to pay?
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The Complexities of Managing Percentage Rent for Multi-Location Tenants

If you’re a multi-unit operator in the retail or restaurant industry, you know that managing percentage rent across different leases can be a daunting task. Percentage rent is a type of lease arrangement where you pay a base rent plus a percentage of your sales once those sales exceed a set threshold (the breakpoint). While this setup offers flexibility, the complexities multiply when dealing with several locations, each with unique terms.
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How to Process Percentage Rent in Commercial Leases

Percentage rent is a common feature in commercial leases, particularly in the retail sector, where it allows landlords to benefit from the success of their tenants. But while the concept is straightforward, the process of calculating and managing percentage rent can be complex and time-consuming. To help you navigate this aspect of lease management, here’s a step-by-step guide to processing percentage rent.
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6 Essential Items You Must Have Before Starting Lease Abstracting

Lease abstracting is a crucial process that ensures all pertinent information from a lease is distilled into a clear, concise format. This process can help property managers and lease administrators manage leases more efficiently, avoid costly mistakes, and make informed decisions. Before diving into this process, it’s essential to have certain tools and information at your disposal. Here are six must-haves for a successful lease abstracting process:
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7 Steps to Create an Efficient Business & Operating License Renewal Process

Renewing business licenses and permits can be a complex and time-consuming process for any business owner. With multiple jurisdictions and varying renewal requirements, it's crucial to have a well-organized and efficient process in place. These 7 steps will provide you with essential information and practical steps on how to create a seamless process for renewing business licenses and permits.
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Be a Smooth Operator: Transitioning from Acquisition to Operations

After the deal is done and the acquisition team hands off a newly acquired portfolio of leases to the operations team, there can be confusion over what happens next. If your operations team is already working at capacity on the day-to-day tasks of running the business, finding time for someone to comb through each lease to set reminders for important dates, make notes of unusual terms, and reach out to every landlord can feel impossible. For many business owners, it's unclear who on their team these tasks should even fall to. This lack of clarity leads to a catch-up situation of just trying to not let too many items drop. Sound stressful? That's why Property Works has developed a proven Acquisitions to Operations Transition Process Support service to help you start strong.