If you are a landlord or a tenant of commercial property it can be difficult to keep track of rent payments. For that reason, Masons Lawyers have developed a Commercial Lease Calculator using an excel spreadsheet whereby information can be entered and then the Calculator utilised to keep track of rent payments for a commercial property.
Check it out here – commercial lease calculator (please note that this calculator is for a monthly gross lease and requires microsoft excel)
Users Guide
This guide is relatively easy to use but relies upon the user properly entering certain details as follows:
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Address of Property (cell A3) – This is required to assist you in identify which property the spreadsheet applies to, you can save this spreadsheet multiple times for use on different properties.
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Yearly Rent inc GST (cell A7) – please enter the full amount of rent for the first year of the lease.
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Rent Start Date (cell B7) – please enter the commencement date of the lease.
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Term of Lease (cell D7) – enter the length of the lease in months (i.e. if the lease is 5 years please enter 60). The spreadsheet can only be used for commercial leases that require monthly payments.
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Rent Review for each year (cell B10 and subsequent) – enter the percentage of the increase for each year. If the increase is based on the increase in CPI then this will have to be modified each year.
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Amount Paid (cell E14 which is currently black) – enter the amount paid on or before the due date for the lease.
The spreadsheet will then populate the following fields:
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Next Due Date for Payment is shown in cell G3.
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Each due date for payment is shown in column C under cell C13.
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The amount due is set out in column D under cell D13.
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Each payment is tracked in column E under cell E13.
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Total Arrears are tracked in column F under cell F13.
Masons Lawyers have extensive experience in acting for both landlords and tenants of commercial properties. For this reason they have developed this tool to be used by parties to a lease to track payments and assist both parties to keep track of payments.
If you have any questions or require any assistance with your commercial lease please contact us to discuss your requirements.
Masons Lawyers. Our experience is your advantage.
Jeremy Streten
Legal Practice Director
Masons Lawyers Brisbane