A commercial or retail Lease is a good deal more complicated than a residential lease, because the commercial or retail lease is usually heavily customised to the individual situation. The lease terms and conditions need to be very carefully read to make sure that they match the needs of your business, as any mistakes at the beginning could make or break your new business. At Brockway Legal, we have extensive experience in retail or commercial leasing having acted for Landlords and Tenants in all types and sizes and businesses.
Some of the critical aspects of a commercial or retail lease include:
- The length of the lease term and options;
- The permitted use of the premises – does it suit the Tenant’s business type?
- Who is responsible for repairs and maintenance of the premises and fixtures and fittings;
- How often is the rent to be increased and on what basis?
- What signage can be put up by Tenants and when can the Landlord object to signage?
- What happens when the Lease is due for a market review of rental?
- If the Tenant sells their business during the lease term, when can the Landlord refuse to transfer the Lease to a new Tenant?
We strongly suggest you obtain our legal advice before signing any Lease documents or taking possession of the premises to ensure the Lease meets your needs and you understand your obligations.
If you are in dispute with your Landlord or Tenant, you need to understand your rights and obligations under the Lease before you can take any action against the other party.
Lease disputes can frequently be sorted out by negotiation between the parties once the rights and obligations of each party are understood. We can assist you with negotiations with the other party, mediation and court action, if the matter is otherwise unable to be resolved.
Contact us to for legal advice specific to your business lease agreement from an experienced lease lawyer in the Yarra Valley.