additional rent

additional rent

Amounts due under a lease in addition to the originally agreed upon base rent. Leases usually characterize all sums due to a landlord,including late fees,collection costs,and property damage, as additional rent.This gives the landlord some legal advantages as far as declaring a default,obtaining an eviction,and collecting sums due.Examples could include the tenant's share of property maintenance and insurance expenses and a retail tenant's obligation to pay a percentage of gross income in addition to base rent.

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Such additional rent was to be payable by the tenant to the landlord, 111 Avenue of the Americans Associates, on the first day of the month following the ascertainment of such increased taxes.
After a period to accommodate financial stabilization of newly built properties, the leases provide for additional rent equal to a percentage of gross revenue increases over a base year amount at these hotels.
Insurance Company of North America, a commercial non-payment case, the landlord brought suit for payment of additional rent, and tenant asserted counterclaims in its answer.
In recognition of that fact, and hoping to stem the tide of effectively abandoned buildings, Councilmember Archie Spigner of Queens pushed the Rent Guidelines Board to give all buildings with low-rent apartments a boost with a $15 additional rent increase earlier this year.
Occupancy increased due to additional rent expense as the company increased space at several locations and incurred additional rent for the new North Hollywood, Calif.
The Company, Malkin said, keeps $1 million after paying rent to the Associates and pays an additional rent to the Associates of 50 percent of all additional profits.
This estimate assumes earnings on the investment of lump-sum proceeds in money market instruments and receipt of additional rent of approximately $400,000 per annum through 1998.
The owners successfully demonstrated their good faith in seeking to recover the additional rent stabilized apartment and convincingly rebutted the tenant defenses.
Over the years, landlords have found that most tenants do not have the resources to analyze the lease and additional rent bills, verify the actual expenses and then follow up and obtain a recovery of overpayments," said Dr.
5 million in rent over a twenty-four (24) month period, which will be used to build a new conference and events center adjacent to the hotel; (c) Thunderbird will pay no additional rent during the first three-and-a-half (3 1/2) years, of the lease (this period will be used to amortize the US$2.
What are the additional costs or additional rent associated with the lease?
As for those paying additional rent, the Government will pay on their behalf the net rent for two months and they are required to pay the additional rent.

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