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Percentage Lease
Free percentage lease template — a retail tenant pays base rent plus a percentage of gross sales above a specified threshold, common in shopping centers.
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This free percentage lease covers 1. Base Rent, 2. Percentage Rent, 3. Definition of Gross Sales, 4. Reporting and Payment, 5. Landlord's Audit Right with 11 clearly marked [placeholder] fields to fill in — built for landlords, tenants, and small property owners documenting a lease or tenancy change clearly, without guessing at the right structure. Copy it into your own word processor, fill in the placeholders, and review it — or adapt it — before use. It's part of docstoc's free document template library, alongside business, legal, real estate, finance, and HR templates. Every template here is free to copy with no signup required, and each one carries a plain disclaimer: this is a starting point for informational purposes, not a substitute for advice from a licensed professional in your jurisdiction.
Percentage Lease
Landlord: [Name] · Tenant: [Name] · Property: [Address, suite/unit] · Date: [Date]
1. Base Rent
Tenant will pay base rent of [Amount] per month, [subject to annual escalations of [%/CPI], as described in Exhibit A].
2. Percentage Rent
In addition to base rent, Tenant will pay percentage rent equal to [%] of Tenant's Gross Sales exceeding a "breakpoint" of [Amount] per [year/month].
3. Definition of Gross Sales
"Gross Sales" means [all sales of merchandise and services made from the premises, excluding sales tax, returns, and other specified exclusions listed in Exhibit B].
4. Reporting and Payment
Tenant will provide Landlord with [Monthly] sales reports and pay percentage rent [Monthly/Annually reconciled], within [Number] days after each period ends.
5. Landlord's Audit Right
Landlord may audit Tenant's sales records once per year, with [Notice Period] notice; if an audit reveals underreporting of [%] or more, Tenant bears the audit cost.
6. Exclusive Use / Co-Tenancy (if applicable)
[Any provisions protecting Tenant's exclusive use of the space for its business type, or co-tenancy requirements tied to other anchor tenants remaining open, common in shopping center percentage leases.]
7. Records Retention
Tenant will retain sales records supporting percentage rent calculations for [Period].
Landlord: ______________________ Date: ____________ Tenant: ______________________ Date: ____________
*This document is provided for informational and educational purposes only and does not constitute legal advice. The definition of "Gross Sales" (Section 3) is the single most negotiated term in a percentage lease — what counts as excluded (online sales fulfilled from the store, gift card redemptions, employee discounts) can meaningfully change how much percentage rent is actually owed.*
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What's included
- Edit online — click the document, fill in placeholders, download a PDF
- 7 standard sections: 1. Base Rent, 2. Percentage Rent, 3. Definition of Gross Sales, 4. Reporting and Payment, 5. Landlord's Audit Right, 6. Exclusive Use / Co-Tenancy (if applicable), …
- 11 clearly marked [placeholder] fields for quick personalizing
- Free to use — no account or signup required
- Fully editable — adjust any clause to match your actual situation
- Includes a signature block, ready to print or sign digitally
- Fixed docstoc.io footer on every PDF (not removable)
Who this template is for
Freelancers & solo founders
Handling routine business paperwork without commissioning custom legal drafting for every document.
Small businesses
Standardizing recurring documents — leases, agreements, notices — across a growing operation.
Anyone reviewing before signing
Using a clear starting structure to understand what a document should cover, even if a lawyer finalizes it.
Independent landlords
Managing a rental directly, without a property management company's paperwork.
FAQ
Is this percentage lease template really free?
Yes. Like every template in docstoc's library, this percentage lease is free to use, with no account or signup needed to view, edit, or download it.
What does this percentage lease cover?
This real estate template includes 1. Base Rent, 2. Percentage Rent, 3. Definition of Gross Sales, 4. Reporting and Payment. Fill in the [bracketed] placeholders, edit any clause online, then download a PDF — the docstoc.io footer stays on every export.
Is this legal advice?
No. Landlord-tenant law is one of the most locally-specific areas of law in the US — notice periods, required disclosures, and even what a lease is allowed to say vary by state and often by city. Check your local requirements (or a real estate attorney) before using this for an actual lease or notice.
Can I edit the wording?
Yes — edit directly on the page, adjust any section or clause, and re-fill the 11 placeholder fields to match your situation before downloading a PDF. It's a starting structure, not a rigid script.
Where can I find more free templates like this?
Browse more free real estate and related document templates in the docstoc library at /document-templates/.
More free document templates
- Residential Lease Agreement
- Notice to Vacate / Lease Termination Letter
- Rental Application
- Deed of Trust
- Rent Receipt
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