Getting a Lease Termination Right for Tenant with Incorrect Gross Sales Report

Q: I’ve negotiated percentage rent provisions in my leases with several of my retail tenants at the shopping center I own. I’m relying on these tenants to give me correct gross sales figures so that I can get the percentage rent that I’m owed, and can gauge how well the tenants’ businesses are doing. I’ve heard of scenarios where a dishonest tenant may try to undercut the owner’s percentage rent by lowering its gross sales figures.

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