Many tenants are appalled that, amidst the pandemic, their landlords are asking for rent increase when their leases are up for renewal this year. To be able to negotiate powerfully as a tenant, we first need to see the rent increase for what it is - an anchor.
Resources
How-To Set Store Sales Target Using Occupancy Cost
Since 2011, we have been using occupancy cost to determine a store’s sales target. If a store achieves the sales target in a particular month, every team member of that store will receive a sales incentive that month in addition to his or her base salary and sales commission. Occupancy cost refers to the ratio … Continue reading How-To Set Store Sales Target Using Occupancy Cost
What Is Gross Turnover (GTO) Rent?
If you are venturing into retail and looking to rent a premise in a shopping mall, you are likely to come across an offer from the landlord that looks something like this: $20.00 psf/month + 1% OR 11% of Gross Turnover, whichever is higher The + 1% or 11% of Gross Turnover is commonly referred … Continue reading What Is Gross Turnover (GTO) Rent?
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