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Loren
Loren, Lawyer
Category: Landlord-Tenant
Satisfied Customers: 33055
Experience:  Attorney with 30 years of experience representing landlords and tenants.
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TO SIGNED A LEASE CONTRACT SPACE. ON A CONTRACT, LANDLORD

Customer Question

HELLO,
I'M ABOUT TO SIGNED A LEASE CONTRACT FOR COMMERCIAL SPACE.
ON A CONTRACT, LANDLORD REQUIRES ME TO REPORT THE MONTHLY GROSS SALES.
IS THIS SOMETHING I'M OBLIGATE TO DO SO BY LAW?
Submitted: 1 year ago.
Category: Landlord-Tenant
Expert:  Loren replied 1 year ago.

It is something that is common in commercial leases. Especially, if there is percentage rent. It is not legally required but it is enforceable if you agree to it in the lease.

There should be something in the lease requiring the landlord to treat the information as confidential.

Expert:  Loren replied 1 year ago.

If you are not paying percentage rent then you can try to negotiate an annual rather than a monthly report.

Expert:  Loren replied 1 year ago.

Are you online with me?

Expert:  Loren replied 1 year ago.

Did you have further questions? Have I answered your question?

Expert:  Loren replied 1 year ago.

If you have no further questions, and have not yet done so, please remember to leave a favorable rating (Excellent or Good) so that I am credited for assisting you. A bonus is not required, but is always appreciated.

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