Entering into a commercial lease is a significant financial commitment for a business. Rental costs are often the single largest expense that a business incurs.
If you are a tenant
It is important you engage a commercial lawyer to review your lease, ensuring you are properly protected and that the commercial agreement you believe you have made with the landlord is properly and legally reflected in the documents. It can be a costly mistake when businesses fail to properly review and negotiate their commercial lease documents.
We can review and negotiate your retail or commercial lease giving you certainty with regard to the key terms along with assurance there are no "hidden" terms that will later become detrimental to your business.
Amongst other things, you should consider:
- the initial rent and method of increasing the rent
- duration of the lease and your right to renew it
- what other expenses you are required to pay under the lease
- your ability to transfer or assign the lease, and the expense of doing so
- the possibility of subletting the premises
- your rights to end the lease if the premises are damaged or destroyed
- the types of insurance required and who obtains it
- the consequences of failing to pay rent
- ways of resolving disputes
Our commercial leasing services are offered at competitive, fixed fee rates, delivered through our highly qualified staff.
If you are a landlord
It is crucial you have a well drafted commercial lease covering all eventualities, ensuring your property investment is properly protected and that you have all available rights of recourse against your tenant.
It can be a costly mistake to use a simple commercial lease only to find that it does not properly protect your interests.
Problems that can occur include improper provisions that do not (a) allow you to properly review the rent at the appropriate times, (b) allow you the appropriate discretion if the tenant wants to assign the lease and (c) provide you with sufficient rights at the end of the tenancy if the tenant fails to remove their fit-out and make good the premises.
We are experienced in reviewing and preparing
- retail, commercial, industrial and bulky goods leases
- renewal of lease documents
- assignment or transfer of lease documents
- sublease or licence documents
- exercise of option letters to ensure that any right to renew a lease is not lost
- disclosure statements
- agreement for lease documents
- incentive deeds or other collateral deeds related to entering into a lease
- advising on the rights and obligations of the landlord/lessor, tenant/lessee or guarantor
- carrying out due diligence for prospective tenants or guarantors
- disputes in relation to the lease
- making good and reinstatement of the premises at the end of the lease
- rent increases or adjustments, including market rent reviews
Contact us to obtain an indicative quote or arrange a consultation with an experienced property lawyer. If you require expertise regarding other legal business matters please refer to our business law services.