If you’re in the market to lease office space, or you own an industrial location, Fred Kalouche & Associates will help you to protect your business interests.
A Commercial Lease is a tailored, legally binding contract between business owner and landlord. The lease terms are often negotiable, such as rent, outgoings, renewal options and fit-out periods. Our experienced lawyers can help you carefully consider and negotiate the terms and conditions to best suit you. It’s important you do this as you do not get an opportunity to amend an agreement after the lease commencement date.
A Retail Lease is governed separately under the Retail Leases Act 1994 and is related, but different, to commercial leasing. On both accounts, we can assist you in drafting and negotiating a lease for landlords and reviewing, advising and negotiating leases on behalf of tenants.
Before entering into a retail lease, you must seek a lessor’s disclosure statement, which summarises the terms of the lease. It should confirm your negotiations with the landlord on rent and outgoings payable; the method and frequency of rental increases; further costs associated with the lease; the important clauses in the lease; and any other pertinent issues, such as demolition or relocation clauses. If there is anything you don’t agree to or understand, we can assist you.
Where disputes arise – over issues like renewal, fit-outs or potential misrepresentation – we can help resolve those, too. Simply send us your lease documents to ensure you are compliant and not in breach of any provisions. Don’t commit to any resolutions without obtaining legal advice. Then, consult us about negotiation, mediation and court action.
Other considerations:
- Check the length of the lease suits you and your business;
- Make sure you understand and agree to the base rent, annual increases and outgoings payable;
- Obtain the licenses and permits required to run your business in that location;
- Make sure you can fit out the premises as per your business requirements;
- Ensure the lease includes all the areas you expect to use, including common areas; and
- Check you have the right to place signage on or around the premises.
To ensure you are fully aware of your rights and responsibilities when it comes to commercial or retail leasing, reach out to us (02) 8062 6300