Landlords and tenants face off over online sales

Did you know that many shopping centres (especially the major shopping centres) have turnover rent?

Landlords require tenants to pay a proportion of their turnover, over a certain amount, to the landlord because they say the shopping centre (and the foot traffic that it attracts) contributes to the tenant’s turnover.

Should online sales be included in the assessment of turnover rent?

#tenant #landlord #shoppingcentre #rent

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The sharp growth in online sales spurred by the pandemic is shaping up as the next big flashpoint between landlords and their tenants.