On what day of each subsequent month is the Basecamp Fitness rent payment due?
Basecamp_Fitness Franchise · 2025 FDDAnswer from 2025 FDD Document
RENT: The Agreement shall commence upon the Rent Commencement Date and shall end upon full performance by Customer in observance of all terms, conditions, and covenants set forth at the Agreement and any extension thereof. Rent shall be paid in advance and in the amount and frequency as provided herein plus any applicable taxes and fees including but not limited to sales tax, use tax, property tax, equipment protection fees, and late charges. The first such rental payment shall be due on the Rent Commencement Date and each subsequent payment will be due on the same day of each subsequent month or other frequency as explicitly provided for. Owner will have the right to apply all sums received from Customer to any amounts due and owed to Owner under the terms of this Agreement or any other Agreement between Owner and Customer. Customer agrees that Customer owes Owner additional pro rata rent calculated as one-thirtieth (1/30h) of the monthly rental amount per day from the earlier of the date of Equipment delivery or the date of advanced funding to Supplier until the Rent Commencement Date and the Agreement begins. Provided no events of default have occurred, Owner will allow Customer to pay off the Agreement early for an amount equal to the sum of all remaining unpaid rental payments, discounted to a net present value at a rate up to five percent (5%), plus the purchase option price.
Source: Item 23 — RECEIPTS (FDD pages 62–248)
What This Means (2025 FDD)
According to Basecamp Fitness's 2025 Franchise Disclosure Document, rent is paid in advance. The first rental payment is due on the Rent Commencement Date. Each subsequent payment will be due on the same day of each subsequent month or other frequency as explicitly provided for.
This means that a Basecamp Fitness franchisee's monthly rent payment will be due on the same day each month as the Rent Commencement Date, unless another payment frequency is specified. For example, if the Rent Commencement Date is July 15th, the rent will be due on the 15th of each subsequent month.
It is important for a prospective Basecamp Fitness franchisee to understand the Rent Commencement Date and ensure they are prepared to make timely rent payments to avoid any potential late charges or defaults on the agreement. The franchisee should clarify with the franchisor or landlord if there are any explicitly provided alternative payment frequencies.