Retail and commercial leases tend to be a good deal more complicated than residential leases, because the lease is usually heavily customised to the individual situation.
The lease terms and conditions need to be very carefully read to make sure that they match the needs of your business, as any mistakes at the beginning could put you, and particularly your business’ cash flow, at risk.
We can assist with drafting and reviewing retail and commercial leases and negotiating the terms of the lease. The terms are often negotiable and some of the important ones for you to consider are the rent amount, calculation of rent increases, security deposit, duration of the lease, modifications you can make to the property and whether you can transfer or assign the lease. We can also assist with subleases in much the same way.
We recommend that you seek legal advice before making any commitments, including signing an offer, paying a deposit or moving anything you own into the property.
Once the lease is in place, you may find yourself in a dispute with your landlord or tenant, as the case may be. The dispute is governed by the lease, which is another reason why it is important that you have read and fully understood the document. There are a range of dispute resolution processes that may be available to you and we can advise you in relation to each option and also represent you in seeking to resolve the matter.
Talk to our friendly Retail & Commercial Leases team today