Are you a landlord with a property to lease or a tenant looking for a rental?
At Arnold Lawyers we can act for both landlords and tenants in retail or commercial leases and assist you with all aspects of your business lease. We are aware of how important it is for you to know and understand the terms of a commercial lease and to ensure that you are aware of your rights and responsibilities under the lease before you sign on the dotted line.
Some of the main considerations to be taken into account include:
- The term or duration of the lease and any option to renew the lease
- The amount of rent, rate of rental increase and the timing of rent reviews
- Other outgoing costs and operating expenses in addition to the rental payable
- The amount of any bond, the conditions of its use and the withholding or repayment of same
- What fixtures and fit-outs may be included, the terms for their removal during the term of the lease and return to the property at the expiry of the lease or for the installation of new fixtures
- Who is responsible for repairs and maintenance to the property
- The nature, extent and timing of any required refurbishments to the property
Whilst these are just some of the main considerations to take into account when entering into a business lease, there are many other matters that need consideration and why it is extremely important for you to obtain legal advice before committing to a business lease.
Make sure you call one of our offices for advice and assistance in either drawing up a commercial lease, prior to signing a lease or for an obligation free quotation.