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According to your tenant's lease document they must pay $14 net rent and are leasing...

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Accounting

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According to your tenant's lease document they must pay $14 net rent and are leasing 7000 square feet of space. Operating expenses at the property are currently $9 per square foot. Answer the following questions: (3 pts) a. It is October 15, and they have not paid their October rent. This is the only amount of money they currently have outstanding. According to the Default clause in the lease agreement late fees are 10% of outstanding rentals after 10 days. Calculate what the late fee should be for this tenant? (Ipt) I What would you recommend the property manager do before they charge the tenant for the late fees? (Ipt) b. Suppose this tenant does not move out of their space upon lease expiration According to the holdover clause in the lease agreement you are able to charge the tenant 200% of gross rent if they stay in the space after their lease expires. Calculate what you would charge them for rent in the month after their expiration. (1 pt)

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