Is Owner Entitled to Percentage Rent from My ATM Transactions?
Q: I operate a “general store”-type business at my center. At the time I negotiated a “percentage rent” clause in my lease with the owner, I didn’t have an automated teller machine (ATM) in my space. I’m thinking of installing one at the front of the store so that customers can access cash when checking out. I would charge an ATM fee. Will the owner be entitled to a percentage of the fees I would collect from all of my ATM transactions?