There are special rules that apply to commercial leases that fall within the definition of being a “retail lease”. Under the Retail Leases Act 1994 (NSW), landlords must, amongst other things, comply … [Read more...] about Retail landlords – know your obligations under the Retail Leases Act
Leases
The landlord’s responsibility to recover outgoings in a timely manner
The responsibility for the payment of the costs of the water usage and electricity for a Kirrawee commercial property was the subject of a dispute dealt with by the District Court in 2017 – AAP … [Read more...] about The landlord’s responsibility to recover outgoings in a timely manner
Leasing and Current Market Rent
Does your retail or commercial lease provide for an increase with reference to a current market rent? We often have clients who approach us before they renew their lease, concerned about the increase … [Read more...] about Leasing and Current Market Rent
BANK GUARANTEE OR SECURITY BOND
What is the best option when leasing commercial properties? It is now standard practice when acting for landlords in commercial leasing, to request some kind of security from the tenant, typically … [Read more...] about BANK GUARANTEE OR SECURITY BOND
DO I HAVE A RETAIL LEASE?
The key criteria to consider if you think you are entering into a Retail Lease Retail Leases are governed by the Retail Leases Act 1994 (NSW) (‘the Act’) and are subject to different laws and … [Read more...] about DO I HAVE A RETAIL LEASE?
IS YOUR HEADS OF AGREEMENT CERTAIN ENOUGH TO BE ENFORCEABLE?
A Heads of Agreement (also known as a Memorandum of Understanding (MOU) or Letter of Intent (LOI)) is a document outlining the proposed agreement between the parties to it. There are a number of … [Read more...] about IS YOUR HEADS OF AGREEMENT CERTAIN ENOUGH TO BE ENFORCEABLE?
When can (and can’t) a retail landlord withhold consent to a proposed lease assignment?
Commercial and retail leases typically contain a provision allowing the tenant to transfer (assign) the lease to another tenant. The need or desire to transfer the lease can arise in a number of … [Read more...] about When can (and can’t) a retail landlord withhold consent to a proposed lease assignment?
Why you need to know about outgoings
What are outgoings? Outgoings are expenses incurred by the landlord arising out of its ownership of the premises. Typical outgoings include: Taxes fees and charges – e.g. Council rates, … [Read more...] about Why you need to know about outgoings
Do you know how to exercise your option to renew your lease?
Commercial leases typically are for a fixed initial term of, say, 3 or 5 years, with an “option to renew” period of a further 3 or 5 years. The lease document will note the specific dates within … [Read more...] about Do you know how to exercise your option to renew your lease?
Be wary of your landlord’s financial status when signing the lease
It is not uncommon for a landlord to make extensive investigations into a tenant’s financial situation, to minimise the risk that the tenant will fall into financial hardship and not be able to pay … [Read more...] about Be wary of your landlord’s financial status when signing the lease