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