Vendor Lease for Both Mall Locations
Wally's Treasures LLC Wally’s Castle LLC
1438 28th St SE, Grand Rapids, MI 49548 3637 Clyde Park Ave SW, Wyoming, MI 49509
Email: WallysTreasuresMall@gmail.com Email: TheWallysCastle@gmail.com
VENDOR LEASE AGREEMENT CONTRACT
Location: (circle) Wally’s Treasures / Wally’s Castle
Dealer #______________________________________________
Booth(s) / Case(s) Rented_______________________________
Booth(s) Rental Amount $______$_________________________
4 Month Rental Starting ______/_______/_____ Ending ________/______/_______
Amount Paid $_______________ on Date ______________ _____________________
Wally’s Treasures LLC & / or Wally’s Castle reserves the right at anytime to immediately end the rental agreement for actions or products that are detrimental to Wally’s Treasures LLC / Wally’s Castle LLC and our operations. Vendors wanting to have 25% or more of their booth a certain item or category needs to get permission from the mall.
This lease agreement, made and entered into by and between Wally's Treasures LLC, hereinafter referred to as "LANDLORD", and _________________ hereinafter referred to as "TENANT". (Please Print)
Witnesseth that LANDLORD, in consideration of the covenants and agreements to be performed by TENANT and upon the terms and conditions hereinafter stated does hereby lease unto TENANT known as __Name Written in Above Paragraoh__ in Wally's Treasures LLC / Wally’s Castle for a term of __Four Months (4) __ months, commencing on the ___________ day of _________________ , 20_____ . Renewing every 30 days there after until either party gives 30 days notice.Wally’s Treasures reserves the right at any point to end the rental agreement with 30 days notice to vendors breaking the mall rules. Vendors who want to move out need to email the correct mall or sign a paper statement stating they are giving 30 days notice to move. Vendors using goantiquing.net for sales are required to send an email stating their plan to move out with a date. Make sure to get a confirmation from the Wally’s Location that your email was received. Vendors are required to give 30 days notice after their 4 months. Vendors are required to take all their items and shelves with them when they move out. Vendors leaving items behind can be charged with disposal of the items.
1. The leased premises shall be used for no other purpose than for the sale of crafts, gifts, antiques, collectibles, or other items which must be approved by management and allowing advertising of related businesses with mall management prior permission. TENANT shall not perform any acts or carry on any practices which may injure the building or be a nuisance to other tenants in the building, or use the premises for any business or purpose which is unlawful or in violation of any public or city ordinances.
-Wally’s Treasures & Castle charges 2% commission on properly tagged items and 5% non bad tagged items, and as well as a 5% fee on all credit / digital payments.
-Checks are available for pickup on the 7th (Wally’s Treasures) or 15th (Wally’s Castle) of the following month for which the sales occurred. If mall is closed on that date, they will be ready the following Wednesday.
-Wally’s Treasures Sales year runs Jan 1st - Dec 31st.
2. Tag Standard for Wally’s Treasures & Wally’s Castle charge the same 2 / 5% Fees
** Tag is an example of what we expect. The commissions posted in the picture are not valid at this time.
3. Restricted items include
Types of Vendors / Items at our mall: Vintage, Antique, Collectibles, Crafts, Repurposed, Artisans, Furniture, & Treasures. Any knockoff, bootleg, or illegal items can be taked by the mall and destroyed.
A. No items under $.99 Period, Items found under $.98 will be charged a 50% Commission. We do not want those items here and will sell the item to our customer, to keep them happy.- ALL ITEMS MUST BE INDIVIDUALLY MARKED.
B. No Firearms, Blackpowder, or guns besides older collectible BB guns.
C. Ammunition must be 20+ years old
D. All politcal items must be 5+ years old and not of current politicians.
E. No newer electronics still available in stores (TVs, Bluray players, computers, kitchen appliances, cell phones, tables, etc) Media and Video Games are allowed.
TVs, Kitchen Appliances, Etc must be 25+ years old.
2. No Bulk store returns / pallet vendors, vendors who purchase newer used merchandise returns from stores for resale, are not allowed. There are other places to sell those items. We can not guarantee electronics or pieces. No Amazon, Target, Walmart, Etc Returns allowed.
3. No “Extreme Couponers” or products like soap, cleaners, etc found in regular retail stores. - No soaps, shampoos, cleaners, unless it is approved in advance, is a gourmet line, and you are a vendor directly for the company.
4. No direct sales items (Amway, Avon, Body Wraps, Vitamins, paparazzi Jewelry, etc)
5. No live goods, animals or plants
6. No Food Items unless approved by mall in advance.
7. Adult Collectibles, Knives, Sharp Pieces must be in a locked display case.
8. Any item marked Vintage or Antique must be 20+ years old at our mall. If it is not 20 years old please do not mark the item Antique or Vintage. Top Shelf of shelves must be less or equal to 6’ Tall
9. ALL YOUR ITEMS MUST BE WITHIN YOUR RENTAL SPACES. Staging items outsid of your space is not allowed.
4. Vendors who Fall 30+ Days behind on rent owe give the mall permission to hold a sale, up to
50% to sell stuff to offset back rent owed. When sales do not cover rent, vendors are expected to
Make up the difference in a timely manner. IF Vendors fail to come in and pay back rent or sales doesn’t cover rent at 50% off, Wally’s Castle & Treasures reserves the right to raise the discount amount up to 90% off after to recover back rent owed or to sell off inventory abandoned in the mall.
Vendors not paying rent owed within 30 days of due are in violation of the lease and the mall at its
discretion can immediately end the rental agreement.
Should TENANT go beyond thirty days without payment, TENANT shall be in violation of lease contract and in default hereunder. Deposits are returnable within 30 days after lease is completed and booth is vacated, minus any cost of repairs necessary to repair booth. Booth should be inspected by TENANT & LANDLORD before moving in, and any blemishes not corrected should be noted on contract.
Default Remedies: In the event TENANT should become delinquent for thirty (30) days, unless other arrangements have been made, TENANT shall be considered in default and LANDLORD shall be entitled to and TENANT hereby authorizes LANDLORD to immediately deduct all amounts due to LANDLORD from TENANT's checks and/or hold back dealer's checks. Additionally, LANDLORD may take possession of the premises and remove all persons and property without being deemed guilty of any manner of trespass. Dealer's merchandise may be taken and stored for 30 days first, for vendor to pick up. Merchandise may not be removed from the store until all rent is paid in full. If installment is paid by check and check is insufficient, an additional charge of $ 25.00 will be levied against TENANT.
5. Rent varies from $2.50 sq ft per month to $3.00 per sq ft based on
location and size of booth(s)
Commissions charged to Vendors
5% for all Credit Card Transactions
2% Commission for Proper Tags, 5% for improper tagged items
6. LANDLORD may periodically evaluate booths and has the right, in its sole discretion, to remove any inventory deemed improper. LESSEE SHALL UNDER NO CIRCUMSTANCES SUB-LET THIS SPACE.
7. TENANT agrees to pay the LANDLORD rent for said premises at the rate of $ __Amount Stated on First Page________ per month in advance. First month's rents is due at the beginning of lease, along with a deposit equal to one month rent also known as the last month's rent. Monthly installments shall be due on or before the first day of the month. If this lease should commence on a day other than the 1st DAY of the month, a pro-rated amount for the partial month shall be due and payable upon execution hereof. These days shall be in addition to the regular terms (4 months) of the contract.
Sales will be added up from the prior month's sales and deduct the following month's rent with remainder to be paid out in a check. Vendor's sales that do not cover the following month's rent will be due on the 7th of the following month.
8. Assuming TENANT wishes to continue occupancy after the expiration of this lease, it will automatically renew the term for the original length. All leases will be for 1 month minimum and renew monthly. If TENANT wishes to remain, rent will be paid as usual every month and the deposit will remain in place until a later date. If TENANT wishes to vacate at the expiration of his lease, 30 days written notice to the LANDLORD is required. LANDLORD reserves the right not to renew this lease, and will notify TENANT 30 days before this lease expires. If TENANT should abandon the Leased Premises prior to the end of the lease term, the deposit will be retained by the LANDLORD as liquidated damages for TENANT's failure to honor contract, and shall not be applied to TENANT's obligation for rent.
9. TENANT shall maintain premises in a clean, safe, orderly manner, keep all merchandise within the confines of their area, and is responsible for cost and maintenance of any additions made to premises: i.e. temporary walls, which shall become the property of the LANDLORD upon TENANT'S vacancy of premises. Free-standing displays are TENANT’S property. However, they must be sturdy for safety purposes. If you are working in your booth (Restocking, fluffing, working) and the vendor hurts themselves or their shelves or items are not safety in their booth the vendor is responsible for those actions. Vendors are independent contractors running their own business and Wally’s Treasures LLC will not be responsible for vendors working their booths.
10. TENANT is responsible for fire, theft and damage insurance and any other insurance concerning TENANT'S property if TENANT wants insurance coverage. All items in vendors booths or cases are the responsibility of the vendor. You can get your own insurance as Wally’s Treasures LLC does not cover the contents of your booth. Wally’s Treasures LLC is not responsible for lost, stolen, broken, or illegal items. All items must be shown in a safe and proper manner not to hurt a customer or vendor looking at the item. All items should be clean and shown in the best manner possible. All items not for sale should be marked NFS.
11. LANDLORD shall not be liable to TENANT for any damage to person or property caused by any act, omission or neglect of TENANT or any TENANT of the building of which the premises are a part, or due to any other cause whatsoever, and TENANT agrees to indemnify and hold LANDLORD free and harmless from all claims for any such damage, lost items, etc.
12. Business schedule runs from the first day through the last day of each month. All sales receipts taken in during this time period will be paid to TENANT by 15th day following close books, Sales + paid volunteer time for the month - following months rent will be figured out when a check is issued. Only one check per dealer contract will be issued.
Working Vendors will be issued a 1099 for any payments over $600 for working at Wally’s Treasures. We require a correct SSN or EIN prior to your final check.
14. Hours of Operation:
Mon / Tue - Closed
Wed 11-6pm (Vendors can work their booth, bring products in all day)
Thu 11-6pm (Vendors can work their booth, bring products in all day)
Fri 11-7pm (Vendors can work their booth, bring products in all day)
Sat 11-7pm *** NO ITEMS TO BE BROUGHT INTO THE MALL***
Sun 11-6pm (Vendors can work their booth, bring products in all day)
Accept closed certain holidays. (Easter, Thanksgiving, Christmas)
Wally's Treasures Antique Mall will be closed on Easter, Thanksgiving & Christmas Day. Wally's Treasures Antique Mall closes at 4:00P.M. On Christmas Eve and 4:00pm New Year’s Eve, and occasional bad weather evenings for safety.
15. LANDLORD reserves the right to terminate this lease if TENANT does not keep their booth space at least 50% stocked with merchandise. LANDLORD will notify TENANT 30 days prior to termination.
16. No “You broke it you bought it" signs are allowed. ANY sign in booth must first be approved by management. Sales can only run 30 days and must end at the end of the month. No never ending sales. Sales end the last Sunday of the month.
17. Tenant must show Driver's License or store ID card for identification upon request. You CAN NOT send someone to pick up something from your booth. It is For Your Protection!
18. All property left in the mall or leased premises upon termination hereof shall be deemed abandoned by TENANT to LANDLORD and LANDLORD is authorized to sell same without further notice to TENANT.
19. The LANDLORD is responsible for collecting and paying all State Sales Tax to the State. All your sales at our mall are considered wholesale. Wally’s Treasures collects all sales tax and submits it to the state monthly.
20. Vendors need to make sure all their shelves, displays, and merchandise is within the space agreed upon with the mall. Failure to do so will result in your items being pushed into your booth or asking you to reset your booth. If it is not resolved it will result in a reason for Wally’s Treasures to end our rental agreement.
21. LANDLORD reserves the right to utilize photographs, videos, etc. of TENANT's merchandise. Booth and name in advertisements, and TENANT hereby authorizes same.
22. Tenant agrees to remove all their trash from store. Please do not use store trash cans or dumpsters.
Tenant shall never remove all of their merchandise to take to shows, etc. Booths should never be less than 50% full.
23. All checks issued by Wally's Malls are void after 90 days. There is a $20.00 charge for replacement of stale dated checks.
24. TENANT has thoroughly read and understands all contents of this lease. Tenant has also read and understands and agrees to abide by all the rules and regulations governing this store.
You have the option to sign up for our online sales monitoring. If you would like to Opt-in to Goantiquing.net an additional fee of $0.00 will be charged to your account each month. Landlord pays the fee for the Tenant.
25. Vendors who have an outlet in their booth are allowed to have up to 100 watts of usage total per mall. No cords are allowed other than a proper surge protector. Outlets are turned off at night.
26. Lost or missing items should be emailed into the mall / facebook group.. Pictures help. Vendors need to make sure they are checking the vendor work room for lost items as we clean the room out monthly and items not claimed will be disposed of or resold.
27. Wally’s Treasures LLC & Wally’s Castle LLC is a group defined by 200+ different vendors and we ask all vendors to work as a team to better benefit themselves, their fellow vendors and the mall itself. Remember your case / booth is a reflection on our mall, issues brought to a vendor’s attention and not dealt with can be resolved with the choice of the mall. (IE Rugs not taped down removed, using extension cords can be cut, etc)
28. Wally’s Treasures & or Wally’s Castle reserved the right to end this rental agreement at any time.
ITEMS that will make up 25% or more of your space_______________________________________
______________ ________________________________________________________
_________________________________________________________________________________
Name ____________________________________________________________
Circle Social Security Number _____- ___-_____ or EIN __________________________
Date_______/______/_______ Phone or Text Number (_____) - ___________
Address___________________________ City ___________________________________
State__MI______ Zip ____________________ Email _________________________________
Signature___________________________________ Date _______ / ______/___________
Mall Director ________________________________ Date _______/______/____________
Benjamin Herbst