Whether you are a landlord or tenant, leasing premises is a major investment decision for you and your business. Every day, thousands of people around New South Wales enter into commercial and retail leases. However, many do not realise that leasing is a technical area that involves complex legal and commercial issues which, if not addressed by an expert leasing lawyer, can be potentially disastrous, both financially and commercially.
Trouncer Legal will assist you with:
- Advising you on the terms and conditions of your lease, including your heads of agreement and your rights and obligations under the relevant legislation;
- Drafting and negotiating lease agreements;
- Assignment, varying or surrendering your lease;
- Enforcement of the terms and conditions of your lease;
- Exercising options to renew;
- Disputes between landlords and tenants.
At Trouncer Legal, our experienced leasing lawyers will draft your lease and negotiate with potential tenants regarding its terms, which will cover matters such as payment of outgoings, rental reviews, liability for damage and repairs, insurance, options to renew and permitted uses.
Once you have found a potential tenant, we will ensure that you comply with your disclosure obligations by preparing the necessary documentation and liaising with the tenant. We will also ensure that you are satisfied with the potential tenant by liaising with the tenant’s solicitor to determine the tenant’s financial situation and business plans. Once you are happy with the negotiated terms of your lease, we will attend on execution of the lease and register the lease at the land titles office.
Leasing premises is vital to conducting a successful business. At Trouncer Legal, we know what kind of potential issues to look out for and we will ensure that your interests are protected in your lease and that you understand the risks.
Once you have found your ideal business premises, the landlord or their agent should provide you with a copy of the lease. Send a copy to us and we will review the terms and conditions of the lease and advise you of any potential issues or pitfalls. Some issues may be long-term and may not be apparent at this time, but could have significant impacts on you later on. If necessary, we will negotiate with the landlord regarding any changes we require to the lease.
As a tenant, is vital that you inspect the premises before you enter into the lease. It may be worthwhile obtaining a building inspection to determine if there are any defects in the property that may cause damage that could affect your business. If you are aware of any damage, tell us and we will do all we can to ensure that the landlord keeps your premises in good condition and repair.
Once you are satisfied with the condition of the premises and you are happy with the terms of the lease, we will attend on execution of the lease and liaise with the landlord regarding registration at the land titles office.
At Trouncer Legal, we will provide you, whether you are a landlord or tenant, up to date advice regarding your rights and obligations under the Retail Leases Act 1994. We will advise you if your lease will be subject to the Retail Leases Act and ensure that you comply with its provisions before you sign the lease, during the tenancy period, during an assignment of the lease and after the lease expires.
Is my lease a “retail lease”?
The Retail Leases Act governs the rights and responsibilities of landlords and tenants of retail shop leases.
For the Retail Leases Act to apply to your business premises, your business must be either:
- included in the list of businesses specified in Schedule 1 of the Act; or
- conducted in premises located in a retail shopping centre.
Your business premises will not be deemed retail premises if:
- the premises have a lettable area of 1,000 square meters or more;
- the premises are used wholly or predominantly for the carrying no of a business by you on behalf of the landlord;
- your business is carried on in premises where the principal business carried on in those premises is the operation of a cinema, bowling alley or skating rink and your business is operated by the person who operates the cinema, bowling alley or skating rink;
- the premises are in an office tower that forms part of a retail shopping centre; or
- the premises are of a class or description prescribed by the regulations as exempt from the Act.