To report sales, please click here.
Gross Sales FAQ:
Why does IRC need/want these figures?
- We use the sales data to determine the health of our shopping centers. If for some reason your property manager sees a dip in your sales trend, they can stop in and ask what they can do to assist you. We also utilize the sales data to determine what the sales trend is in general for various sectors within our portfolio.
I don’t pay percentage rent so why do I have to report my sales?
- Many times the percentage rent clause and sales reporting clause is located in two different sections. So while the percentage rent section is excluded or stricken from your lease, the gross sales reporting clause may remain. For example, if you have our standard lease, the sales reporting requirement is located in section 10.2 D.
If my lease requires sales to be reported annually, can I provide them monthly instead so I can close my books and not have to compile them at year end?
- Absolutely, you may provide your sales monthly if the reporting time frame is stated as annual in your lease. However, if you are to provide your sales monthly, you cannot alter your reporting time frame to an annual submission.