popshop only receives a 15% service fee once your space is booked.
2. Accept or Deny Booking Request
popshop only receives a 15% service fee once your space is booked.
3. Receive Payment directly to your bank account
popshop only receives a 15% service fee once your space is booked.
Popshop's Fee Structure
Term (sliding scale)
% of gross rent
Months 0-12
15%
Months 13-18
5%
Months 19-24
2.5%
Months 25-36
0.5%
Months 37+
0.25%
Details
If there is an exclusive listing broker on the space, after the first 12 months of a booking, the fee structure will follow the Space Owners agreement with the exclusive broker and Popshop will be entilted to a fee equivelent to the co-broke fee. If there is no exclusive listing agent, the fee structure will follow the fee schedule listed above.
FAQ
Why should I list my space on Popshop?
It's no secret that retail tenants are shying away from long-term leases in favor of flexibility. Through Popshop we are giving space owners the ability to meet the needs of retailer desire for flexibility, by making it super simple to mar...ket and rent out your space with flexible terms. The whole transaction seamlessly takes place on our platform, cutting out legal fees, paper trading, and money collection. It's free to list and you only pay when your space get's rented. Kind of a no brainer!
Who's responsible for damages?
The brand booking the space is responsible for any damages caused to the space during the duration of the booking. At the end of the booking the spaceowner files a claim with popshop if there were if any damages and if deemed leg...itimate the cost will be deducted from the security deposit and the remainder will be refunded to the brand.
In addition, all tenants must provide the owner with a certificate of insurance showing adequately covering the property.
Can I (space owner) cancel a booking?
After a Booking of Space, a Space Owner may cancel the Booking at any time, subject to the following:
1. If the Space Owner cancels prior to a Move-In Date, the Space Owner shall refund to the Brand any and all funds received from the Brand under this Agreement or any License Agreement, including the amount of the Se...rvice Fee. Space Owner expressly acknowledges that in such event, Popshop shall retain the Service Fee.
2. If the Space Owner cancels on or after the Move-In Date, it shall do so only on ten (10) days’ prior written notice to the Brand and Space Owner shall pay to Brand: (1) a pro-rata refund of the License Fee for all days of the term of the License that Brand will not occupy the Space as a result of Space Owner’s termination (2) the full amount of the Service Fee (3) all of Brand’s out of pocket expenses in connection with moving into and out of the Space and (4) a fee equal to twenty (20%) percent of the License Fee and Service Fee paid by Brand at Booking. In such event, Popshop shall retain the Service Fee paid to Popshop in connection with such Listing.
Can a tenant cancel their booking?
Yes, but that depends on when after Booking Space, a Brand may cancel the Booking at any time, subject to the following:
1. If a Brand cancels fifteen (15) days or more in advance of the Move-In Date, Brand shall be entitled to a refund of fifty percent (50%) of the License Fee, but not the Service Fee, which Popshop shall retain....
2. If a Brand cancels less than fifteen (15) days of the Move-In Date, or after the Move-In Date, Brand shall not be entitled to any refund of the License Fee or the Service Fee, which Popshop shall retain.
Is there any exclusivity if I list with you?
Nope! Again, our goal is to provide flexibility and revenue to space owners, that would be against our mission to lock you up that way. Nevertheless, there is an option to use Popshop exclusively for pop-ups which would gives ow...ners a reduced fee.
I'm a broker, can I still list on Popshop?
Absolutely, not only can you, but we encourage you to list your spaces on Popshop. Popshop splits all fees 50/50 with the broker. You guys are the heart of our industry and we want to be partners. When listing your spaces just check the...box, "listing as a broker".
Do I need insurance?
Yes! Brands are required to have or obtain insurance that covers their business and the property. If you already have an insurance plan all you need to do is add the property and space owner as additional insured on the policy. If you d...on't have an existing policy, it's really easy to obtain and quite inexpensive (just ask your Popshop rep for help).
This The Licensee will at all times maintain, in respect of the Licensed Premises, Insurance coverage for commercial general liability and employer’s liability and worker’s compensation, in such amount as required by statute, if applicable, and at the request of the Licensor to give to the Licensor, a copy of such policy or policies. The commercial general liability policy shall have a limit of not less than $1,000,000.00 per occurrence. The employer’s liability policy shall have a limit of not less than $1,000,000.00 per occurrence.
What control do I have over my space?
Space Owners have full control over their space. From pricing, security deposit, and minimum days, to accepting or denying a booking e,erything in is in the Space Owners hands, the way it should be!
When/How do I get paid?
Space Owners recieve their money directly into their bank account. Space Owners will be prompted to connect their payout account via Stripe after listing a space. When a booking is made the money, less Popshop's fee, will be depo...sited into your Stripe account where you can view that money at any time. That money will be released from Stripe to your bank account within 24 hrs of the start date of the booking (typically before that though). Please note for the brands protection, security deposits are help in a 3rd party account to avoid uneccessary disputes.
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