When it comes to leasing retail space, Family Dollar is one of the most popular options for small businesses. Family Dollar is a chain of discount variety stores in the United States. They offer a range of products at affordable prices, and their stores are always located in convenient locations. If you`re interested in leasing a Family Dollar store, it`s important to understand their lease agreement.

The Family Dollar lease agreement is a legally binding document that outlines the terms and conditions of leasing a store. This agreement is comprehensive and covers everything from rent to maintenance. Here are some of the key points that you need to know about the Family Dollar lease agreement.

Lease Term

The lease term for a Family Dollar store is typically 10 years, with an option to renew for another 10 years. This means that you will be locked into the lease for a minimum of 10 years, so it`s important to make sure that you`re committed to running your business for this length of time.

Rent

The rent for a Family Dollar store is typically based on a percentage of your gross sales. This percentage can vary, but it`s usually between 4% and 6%. It`s important to note that the rent is not fixed, and it can fluctuate depending on your sales.

Obligations

As a tenant of a Family Dollar store, you will have certain obligations. These obligations include maintaining the store and its fixtures, complying with all laws and regulations, and paying your rent on time. You will also be responsible for utilities, insurance, and property taxes.

Renewal Options

At the end of your lease term, you will have the option to renew your lease for another 10 years. If you choose to renew, your rent may be renegotiated based on your sales over the past 10 years.

Termination

If you fail to comply with the terms of your lease agreement, Family Dollar may terminate your lease. This can happen if you fail to pay rent, fail to maintain the store, or if you violate any laws or regulations.

In conclusion, the Family Dollar lease agreement is a comprehensive document that outlines the terms and conditions of leasing a store. It`s important to read and understand this agreement before signing, as you will be bound by its terms for a minimum of 10 years. If you`re interested in leasing a Family Dollar store, reach out to their leasing department to learn more about their lease agreements.

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