Percentage Rent in Commercial Leases

Percentage Rent in Commercial LeasesPercentage Rent in Commercial LeasesA percentage lease is a lease that requires a commercial space tenant to pay a cousine rent and, on top of that, to pay the landlord a percentage that is based on the business owners monthly sale volumes. Percentage leases are commonly executed in retail mall outlets. This type of lease agreement is most common for businesses with notoriously large sales volumes, but even a small business that wants toset up shop in a mall- to take advantage of the high volume of foot traffic- may be subject to it. Percentage of Sales Taken Percentage leases dont take a percentage of all sales. They include a percentage paid to the landlord or lessor only when a tenant has made a certain amount and exceeded a certain sales threshold in any given month. For example, a percentage lease might require a tenant to pay 7% of all sales that exceed mora than $25,000 in sales in any given month. Seven percent is a common percentage le ase figure, so if a landlord wants to charge you 10% or 12%, be leery. The Breakpoint Your breakpoint is the point at which a landlord will typically require that you begin paying percentage rent. The breakpoint in sales is the point at which your percentage rent equals your base rent. You can calculate your stores breakpoint by dividing your base rent by the percentage your landlord wants to charge you. For example, lets say your base rent is $4,000 a month. If you divide that number by 7%, it comes out to $57,142. This is the point at which you would begin paying percentage rent- when your gross receipts surpass this benchmark. At this point,you must pay 7% of each and every dollar in sales over the $57,142. Its important to note that your gross receipts are reallywhat counts when it comes to percentage rent- your revenues before you pay other expenses. In all likelihood, any potential landlord you deal with will ask for your minimum yearly sales and then she or he will calcu late your base rent based on this information. Negotiating the Percentage There usually is not be much wiggle room when it comes to negotiating the percentage amount your landlord has in mind- unless of course they are being unscrupulous and want to charge a 10 percent or higher percentage. However, that doesnt mean you cant negotiate. You might find that a landlord is somewhat open to discussing the sales threshold after which the percentage rate kicks in. Obviously, the higher it is, the lower your total rent for the year will be. Be Cautious Despite what seems like a non-negotiable way of leasing commercial property, no savvy business person should ever sign a leasewithout first attempting to negotiate better terms. Also, when you know your fixed rate for the year you can better adjust your expenditures if, lets say, you have an unusually slow sales period. This can happen to the most prepared business owner. For example, if you sell high-quality bed linens and a popular competitor opens a shop near you, your sales may unexpectedly suffer. You could counter by cutting back onnon-essentials like your public relations campaign. Also, percentage leases are more complex than straightforward leases and could cost you a lot of money down the road. It always pays to have an attorney review any agreement before you sign and, if need be, negotiate on your behalf.

When you apply for jobs, you will be asked for references.

When you apply for jobs, you will be asked for references.When you apply for jobs, you will be asked for references.When you apply for jobs, you will be asked for references. A reference is someone who can answer questions about your work history, skills, abilities, and work style. Choose your references with care. What they say can make a big difference. Remember to send them a thank you notlagee when you know they have given you a recommendation. What types of references are important? There are four types of references. References from past employers carry the most weight. Employment references include past employers, co-workers, subordinates, or clients. They can speak about your specific employment experience. You can also list people for whom you perform volunteer activities, babysitting, lawn mowing, and other odd jobs. Professional references are people who know you on a professional basis. They may include contacts from business and sales, clubs, or professional or community organizations. Academic references are instructors and vocational counselors. They can speak about your academic activities. These are most appropriate for current students or recent graduates. Personal references are people who know you personally and can describe your skills. Only use this type of reference if you do not have the other types. Use the names of people who can tell an employer you can be depended on to do a good job. How do you choose people? Select people who honestly know you and will speak objectively. Avoid using family members or close friends as references. Avoid references that may be controversial or may concern the employer. This includes clergy, counselors, or social workers, less they are relevant to the job. Someone who is influential in the community or business may be an effective reference, if they can speak about you related to employment. How can you prepare a reference for the employers contact? Contactthe person to ask if they are willing to be your reference, before you give their name to a potential employer. Find out how the reference would prefer to be contacted. Get permission to give out his or her contact information name and phone number or e-mail address. Find out the best times to reach her or him. Discuss your job search goals and the specific employers who may be calling. Many references prefer to see the job description and your resume so they can answer specific questions. An employer may also ask for your references occupation, how long youve known each other, and the nature of your relationship. What other documents might help? At an interview, bring copies of letters of recommendation from former employers, andpast performance evaluations in case the employer is interested.

Papers Sought for Special Journal Issue

Papers Sought for Special Journal Issue Papers Sought for Special Journal Issue Papers Sought for Special Journal IssueThe ASME Journal of Manufacturing Science and Engineering (JMSE) is currently accepting technical papers for a special issue focusing on the forming and joining of lightweight and multi-material systems. The deadline for submitting a paper for the issue is Dec. 1.With the special issue of JSME, the journals editors aim to assemble a collection of technical papers that will enhance the understanding of material deformation processes expand the lightweight material forming and multi-material joining processes and modeling capability promote research and development activities on forming and joining new materials and disseminate RD related to new forming and joining technologies at length scales varying from micro- to macro-scale. In addition, the publication will address recent advances in cold, thermisch and hot lightweight material forming processes, incl uding deep drawing, hydroforming, stretch forming, extrusion, rolling, forging, explosive forming, superplastic forming, laser forming, and novel forming processes for materials. It will also encompass joining processes for multi-material systems, such as aluminum to high strength steel aluminum to high strength aluminum magnesium to steel and aluminum to composites.The issues guest editors, who will review the submissions, are seeking papers covering a number of topics, including computational methods in the modeling and designing of forming and joining processes new and emerging forming and joining technologies special concerns associated with the forming of lightweight materials, including titanium, magnesium, aluminum and advanced high-strength steel fracture and failure anisotropic yield functions and constitutive modeling tribology microstructure evolution and characterization in forming and joining processes joining of dissimilar materials and forming and joining of composites. JMSE Forming and Joining of Lightweight and Multi-material Systems, which will be edited by Dr. Y. Lawrence Yao of Columbia University, is scheduled to be published in October 2015. If you are interested in submitting a paper for the issue, visit http//journaltool.asme.org.