Our retail and commercial lease lawyers have over 25 years experience in handling commercial, industrial, and retail lease disputes and preparing and reviewing lease documentation. Our experience provides us with unique insights into the Retail and Commercial Lease space.
We act for both landlords and tenants in a variety of capacities from major shopping centres to small businesses.
Tenants
It is important to seek legal advice from an experienced commercial lease lawyer before entering a lease, as it has the potential of having a negative impact on your business’ cash flow and value of your goodwill in the business.
Tenants need to be aware of:
- Your obligations and duties under your lease
- The landlord’s obligations to you especially the disclosure obligations
- Whether a landlord can break or terminate your lease early
- Whether you will receive any compensation if the landlord breaks your lease
- Your rights of renewal (option terms)
- Whether you need to carry out fitouts and other works during the term of the lease
- When and how rent will be reviewed
- Your duties of reinstatement (make good) under your lease
- Your rights
Landlords
It is important to be aware of your obligations before entering lease negotiations with prospective tenants.
Landlords who fail to comply with disclosure obligations, not only face the risk of being fined, but also risk being sued for damages and compensation by disgruntled tenants.
Failure by landlords to comply with legal obligations may also entitle tenants to:
- Withhold the payment of rent and outgoings
- Claim compensation
- Break the lease
- Seek extensions of the lease beyond the agreed terms of the lease.
Landlords need to be aware of:
- How to conduct a proper due diligence of your prospective tenants before entering the lease
- Your obligations under the Retail Leases Act 2003 and other legislation including your disclosure, repair and maintenance obligations
- How to structure your lease to ensure that your rent and outgoings are paid promptly and to optimise your chances of recovery
- The consequences of failing to provide the necessary disclosure documents and notices to tenants
- Ensuring your rental review clauses are accurate and effective
- Acting quickly and appropriately when tenants are in default and knowing your rights and options
We can assist you with:
- Drafting and reviewing retail and commercial leases
- Negotiation for the terms of the lease (including rent, transfer options, duration, exit and renewal options)
- Compliance with your obligations under the lease and relevant legislation
- Assist landlords with managing their investment properties
- Subletting of premises
- Insurance advice
- Dispute resolution
Contact us to find out more or to arrange an appointment with an experienced lease lawyer at our Melbourne CBD office.