How does the first month’s rent work?

Securing a space requires payment for the first months rent and deposit. Rent is paid in advance for the upcoming month. At the end of the first month, you’ll receive a check for your sales minus the next months rent and fees.

Should your start date occur in the middle of the month, our team will prorate the amount and give you a credit for any days before the start date. This credit will apply to the next month’s rent.

For example, if your agreement begins on the April 11th and your monthly rent is $300, our team will calculate your daily rate:

    $300 rent divided by 30 days in April = $10 per day

Then you’ll be charged for 20 days in April:

    $10 per day X 20 days in April = $200

You’ll receive a credit for the remaining days to be put towards May’s rent:

    $10 per day X 10 days = $100 credit towards May’s rent

What about upcoming and new stores?

The same process is used when a new store opens to the public. The first month’s rent and deposit will be collected to secure and hold your space until opening.

If we open to the public on April 11th, we’ll prorate your rent for 20 days in April and give you a credit for the remaining amount to go towards rent due for the month of May.