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Taking steps in your business journey?

The next step in your business journey may be to enter into a retail or commercial lease of premises, or you may be looking at renewing an existing lease or moving to another premises.

23 August 2022

The next step in your business journey may be to enter into a retail or commercial lease of premises, or you may be looking at renewing an existing lease or moving to another premises. 

Your prospective lease of a property may be for you to use as a workshop, as a shopfront, as a restaurant, or even a storage area.

No matter what this property and the lease means to you, before you sign on the dotted line to agree to lease that property, you should take the time to review and receive advice on that lease and take steps to negotiate the terms of the lease, so that it reflects what you need.

Often times, when an incoming tenant receives the lease, they don’t consider all the implications of what that lease means before they sign. However, this can have a mired of ramifications later down the line.

When advising on and negotiating a lease for you, the team at Access Law Group will look at:

  1. The length of the lease;
  2. The rental increases each year;
  3. Whether you have an option to renew the lease;
  4. Outgoings which are assigned to you, particularly with reference to your usage of the premises in part or as a whole;
  5. Indemnification and waiver of all liability by the lessor;
  6. Rent-free and fit out obligations;
  7. “Make good” terms on termination of the lease;
  8. Your obligations under the lease; and
  9. Termination clauses arising out of the lessor’s default.

In addition to receiving advice and assistance in negotiating the lease, you should also have the premises looked at by yourself or by an experienced professional, to ensure that the premises is fit to be leased. You should also speak to your broker about insurances which you may be required to take out. 

At Access Law Group, and our Commercial and Property Lawyers will be able to assist you in receiving advice on any proposed retail and/or commercial lease which you receive and can assist you in negotiating the terms of that lease.

We are ready to book you in for your initial consultation to address your company’s’ needs on (02) 4220 7100, by email lawyers@alg.com.au, or here.