If you are thinking about setting up a cafe or retail shop in Australia or own commercial property in Sydney, it is likely that at some point you have heard of or entered into a lease.
In a nutshell, a lease is a contract or agreement where one party (tenant or lessee) agrees to rent property owned by another party (landlord or lessor) under a set of terms which also comes with rights and obligations.
A lease can be a commercial lease or a retail lease, both of which have different rules and regulations. A commercial lease involves commercial property leased to the tenant looking to run some business on their property, whereas a retail lease is a type of commercial lease that is wholly or predominately used to conduct a retail shop business.
If you are thinking about entering into a lease, or want to lease out your property, it is important to have an experienced leasing lawyer who will guide you through the process to ensure your rights are looked after and you know what you are getting yourself into. This is particularly important as leases are very different to a simple rental agreement, and come with greater commitment and risk.
A badly drafted lease, or inadequate advice when entering into a lease can cost a business thousands and can break a business. It pays to have an experienced leasing lawyer to protect you in these circumstances.
In NSW, retail leases are governed by, amongst other things, the Retail Leases Act 1994 (NSW), which is distinct to the legislation for commercial leases. Each state and territory has their own laws dealing with retail leases.
Over the years, there have been various changes to the Retail Leases Act.
Retail leases generally provide greater protections for a tenant or lessee, when compared to commercial leases. Schedule 1 of the Retail Leases Act provides guidance in determining what is a retail lease and what is a commercial lease.
How can we help?
At Rockliff Snelgrove Lawyers, we have considerable decades of experience in both preparing leases and reviewing leases on behalf of our clients and with property law in general. Some of the services our leasing lawyers can provide include:
- Preparing and negotiating both commercial and retail lease agreements;
- Advising you on certain terms and clauses that should be inserted or negotiated into your lease to protect your business;
- Advising you on subleases and licences;
- Assigning, varying or surrendering a lease;
- Acting for you in lease disputes including dispute resolution and litigation (only if necessary);
For more information, contact the experienced leasing lawyers at Rockliff Snelgrove Lawyers.