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Leasing can be a significant expense to any business. Having the right advice and getting it right from the outset is very important and should be considered before entering into any long term agreements.
There are different types of leases, including:
The type of lease you need will depend on your business needs.
A lease should include the following to ensure the landlord and tenant are aware of their rights and responsibilities under the lease agreement:
The terms of a lease are negotiable. We can advise, draft and negotiate on your behalf to ensure the lease meets your business needs.
Read more below in our FAQs section or contact us today for further advice.
Please reach us at info@mdlg.com.au if you cannot find an answer to your question.
A commercial lease refers to the lease of commercial property. This includes office space, industrial units, workshops and warehouses, retail shops (whether they are within a shopping centre or not), storage sheds, working yards and other non-residential property.
There are different types of leases:
A commercial lease usually refers to a lease with no retail activity, like industrial premises, warehouses, office spaces.
A retail lease usually involves retail services where goods are being sold, like shopping centres, cafes, restaurants, and clothing stores.
Sometimes the distinction can become blurred so it is best to seek legal advice to ensure the right leases are being drafted and signed by the parties.
There is no limit on the length of a lease but there does need to be certainty in the duration of the lease and any options to renew the lease.
If your lease has an option to renew, you can exercise that option within the prescribed timeframe as determined by the lease agreement.
If your lease does not have an option to renew, you can try to negotiate a new lease agreement.
Stamp duty is not payable on a lease but it payable on the transfer or assignment of a lease.
A landlord can only increase the rent in accordance with the lease agreement.
In retail leases, there are statutory restrictions imposed on the timing and method of increasing rent during the term of a lease.
MD LAW GROUP By appointment only. info@mdlg.com.au (02) 9610 1046
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