YEAR-END RECONCILIATIONS - REIMBURSEMENT FOR ANNUAL OPERATING EXPENSES
BUDGET UPDATES – ADJUSTING MONTHLY PAYMENTS FOR ANNUAL OPERATING EXPENSES
REMIT, NOTICE, AND CONTACT CHANGES
ESTOPPEL CERTIFICATE AND/OR A SUBORDINATION AND NON-DISTURBANCE AGREEMENT (SNDA) PROCESSING
INSURANCE CERTIFICATE OR A MEMORANDUM OF INSURANCE (MOI)
SET UP DIRECT DEPOSIT WITH STARBUCKS – ELECTRONIC FUNDS TRANSFER
Starbucks Store Number
Starbucks has thousands of stores — and you’d be surprised how similar street names and city names are across North America. For this reason, we use store number and 2 letter state abbreviations to differentiate stores (Store #0000-WA). Your lease may also have the store number in the notice address section if the store number was assigned prior to lease execution. Store number references can also be found on most Starbucks communications to landlords, including rent checks, estoppel certificates and legal notices we send once the store has opened. Using the store number and 2 letter state abbreviation in all correspondence with us will help ensure that your property is properly identified. If you would like help identifying your store number, please ask our team via email, firstname.lastname@example.org, be sure to include the address where the store is located.
Year-End Reconciliations - Reimbursement for Annual Operating Expenses
Annual Operating Expense Reconciliation Statements can be sent to Starbucks at the Notice Address or emailed to FinancialLeaseAdmi@starbucks.com.
Any Annual Reconciliation Statement, invoice or request for payment must contain reasonable detail, including (1) breakdown of expenses (2) tenants pro- rata share (3) cap on ongoing expenses and management fees and (4) actual monthly payments made by Starbucks.
You should receive a response to your reconciliation statement within the prescribed time, per the terms of the Lease—usually 60 days from receipt. We will either mail you a check for the outstanding amount or notify you of exceptions/information required for resolution.
To expedite processing of your payment we recommend using the following template, which can be downloaded, completed and mailed to the Notice Address or emailed to FinancialLeaseAdmi@starbucks.com.
- Annual Operating Expense Reconciliation Template & Instructions
Budget Updates - Adjusting Monthly Payments for Annual Operating Expenses
Your Lease with Starbucks stipulates the timing of any budget adjustments to the monthly payments you receive for operating expenses. To expedite processing of your payment we recommend using the following template, which can be downloaded, completed and mailed to the Notice Address or emailed to FinancialLeaseAdmi@starbucks.com. This budget template may be used to provide Starbucks with the new estimates for Common Area Expenses, Real Estate Taxes & Insurance.
- Annual Operating Expense Budget Template
Starbucks requires written notice of a change in ownership from the “Seller” to the Legal Notice Address in the Lease. To mitigate potential risks of fraud, in addition to written notice, Starbucks requires the following:
- W-9 in the name of the new owner
- Assignment of Lease, Grant Deed, Deed of Trust, stating the names of the prior and new owner, that has been signed by both the prior owner and the new owner.
Once we receive the legal notice, as well as a copy of the documents that evidence a transfer of interest(s) from the prior property owner to the new property owner we will process your request.
If you have acquired a property with Starbucks tenancy and the previous landlord has failed to notify Starbucks of the change in ownership, you will need to provide legal documents as proof of ownership such as a deed or notarized statement from the escrow agent.
Remit, Notice and Contact Changes
To change your notice or payment address, change current property management contact or entity name, Landlord must send written notice to the Legal Notice Address in the Lease. To mitigate potential risks of fraud, in addition to your written notice, Starbucks requires the following documentation:
If the request is a legal notice address change the documents required are:
- Legal notice signed by Landlord and/or a completed Landlord Address Verification/Modification Form
Estoppel Certificate and/or a Subordination and Non-Disturbance Agreement (SNDA) Processing
Please send your request to the legal Notice Address in your lease via certified mail or overnight delivery. Be sure to include the store number in your request. Unfortunately, we do not accept estoppel requests over the phone, by fax or by e-mail; they must be mailed to the legal Notice Address.
Your Estoppel/SNDA request will be processed within the time period identified in your lease. We prioritize Estoppel/SNDA processing based on the turnaround time required by the lease and our workload.
Please note that Estoppel requests are NOT a notification of ownership change. Please be sure to send all ownership change documentation to the Notice Address, per the Lease, including any assignment, grant deeds or other documents that are evidence of the transfer of ownership and a signed W-9 for the new owner/payee. Please refer to the instructions below for further information about ownership changes.
Insurance Certificate or a Memorandum of Insurance (MOI)
You can view and print the Starbucks MOI online. You will be asked to accept the terms and conditions of access before proceeding.
Set Up Direct Deposit with Starbucks – Electronic Funds Transfer
Starbucks Coffee Company’s preferred method of payment is EFT (also known as direct deposit or electronic funds transfer). EFT payments are electronic deposits made directly into the bank account that you designate instead of receiving a paper check. The main benefits of EFT include:
- Timely payments: Never worry about lost/ stolen mail or impacts of inclement weather on US Postal Service delivery.
- No trips to the bank: Funds are immediately available at the time of deposit.
- Instant Notification: Advanced notification of any funds being deposited into your account (sent via electronic remittance advice to your e-mail address, including payment details).
- Easy bookkeeping: You may be able to automate your accounts receivable posting depending on remittance method (Email or Fax).
If you are not already receiving payments via EFT please review and complete the EFT Set Up Form, which includes instructions for completing the Electronic Payment Setup Form to submit your request. The instructions include information on what you can expect during the conversion process.