A lease is an important legal document setting out the rights and obligations between the landlord and the tenant. Some conditions and terms to consider including in your lease are:-

• A clause setting out who is to pay the costs of the lease;
• How is the rent to be calculated and how will it be reviewed and how often will it be paid;
• What outgoings (eg Council rates, Insurance, Strata Levies etc) are payable by the tenant and which are payable by the Landlord;
• Whether the tenant can renew the lease or not;
• How can the tenant utilise the premises;
• Conditions relating to the extent that any common property is shared;
• Whether there any set trading hours for the tenant.
• Who is responsible for maintaining fire safety equipment.

If a lease is intended to operate for a period of 3 years or more (including any potential tenure period that the tenant may be entitled to pursuant to an option to renew), then in addition to entering into a formal lease it will also be necessary to register the same with the LPI NSW.

There are also numerous situations which may arise during the course or when a lease is being terminated that may require legal advice, including situations involving rent default or where a tenant seeks to assign their lease.

Please contact us to assist if you require assistance with a commercial leasing query.