Many retailers are required by the terms of their lease to pay rent based upon the level of turnover generated by the store. This is particularly common for units leased within shopping malls.
The property lease requires that the turnover reported to the landlord for turnover rent purposes, is certified by an independent auditor.
We have a wealth of experience in preparing reports to help management fufill their obligations under the turnover rent clauses of leases. We ensure that the turnover declared is in line with the lease terms, excluding and including items as appropriate.
Our involvement provides the independent assurance needed by the company to satisfy their landlords’ requirements regarding turnover based rent. The process helps ensure that they are charged the correct rent for their properties.
To find out more you can also contact your local BDO adviser.