Business, Legal & Accounting Glossary
An amount that is used as a minimum rent, providing for rent increases over the term of the lease agreement. The base rent is the initial rent, and depending on the lease provisions it may change over the term of the lease. In commercial properties, the base rent is the minimum due each month, with extra payments due based on, for example, a percentage of sales. A retail store may have a base rent of $500 per month, with an additional rent amount of 2 percent of gross sales.
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This glossary post was last updated: 20th November, 2021 | 0 Views.