Leonidas Lawyers can provide assistance with retail and commercial leases. We act both for Landlords and for Tenants.
It is important to seek legal advice from an experienced lawyer before negotiating and entering a lease. The lease in most instances is the primary asset of the business. The main governing legislation for Leases in Victoria is the Retail Leases Act 2003.
Leonidas Lawyers can assist you with:
- Drafting and reviewing retail and commercial leases
- Ensuring the lease terms and conditions meet the needs of your business now and into the future
- Negotiation for the terms of the lease (including rental provisions, restrictive covenants, option periods, rent free periods, abatement of rental etc)
There are a multitude of matters that need to be considered, and by way of example we note the following:
- Check the length of the lease suits you, that you have the ability to relocate the business if required, as many landlords prefer to lock in a longer lease
- Rental increases are calculated in a number of ways, care should be taken to be aware exactly how the rental increases are to apply
- The clause on property improvements should be read very carefully as it should set out who can make changes, who pays for the modifications and whether you have to return the property to its original condition at the end of the lease
- Make sure the lease includes all of the areas you expect to use including bathrooms, parking areas and common areas
- Be careful that the lease doesn’t stop you from erecting signs in certain areas, for example on the outside walls of the building