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.