Commercial and Retail Leases
No matter if you are a Landlord or a Tenant entering into a commercial or retail lease, we are experts in leasing and can assist you with your commercial or retail lease
COMMERCIAL AND RETAIL LEASES
A commercial lease is a contract between a Landlord and a Tenant for the rental of commercial property. A retail lease is both a commercial lease, and a lease related to retail premises. There are specific additional statutory requirements for a retail lease. Before preparing or entering into a commercial or retail lease, it is important to obtain advice, to ensure that the lease contract defines the rights and responsibilities of each party, reflects the agreed commercial terms, and complies with the statutory requirements.
Term Of Lease And Option To Renew
The duration of the lease is important when negotiating a commercial lease. Negotiate flexibility into the term and options of the lease to suit your requirements. Usually there will be a clause which provides an opportunity for you to renew your lease between three and six months before the end of your lease.
Rent And Reviews
In relation to a retail lease, the Landlord must provide a Disclosure Statement to the Tenant at least 7 days prior to entering into the lease, and if a Landlord wishes to recover outgoings from the tenant, the Landlord must properly disclose those outgoings in the Disclosure Statement and the lease.
Fixtures And Fit-out
The above are just some of the main issues to consider when considering entering into a commercial or retail lease. There are many more matters that need to be considered. It is wise to obtain legal advice from our team before making a commitment to a commercial or retail lease.