Leasing Law | Are you looking for Leasing Lawyers?
Leasing can be very simple if you have obtained advice from a leasing lawyer with the relevant experience in leasing law.
Whether you are entering into a retail lease, commercial lease, industrial lease, agricultural lease, we can assist you. A lease is a legally binding document. It is essential that you obtain legal advice before signing otherwise you may be subject to legal implications such as being sued for damages.
We have listed below a few factors which are relevant to a leasing transaction and we recommend you consider them when negotiating a lease.
Lease term
How long is your lease term and do you have any options to renew?
This is imperative. If you are seeking to establish a business from a particular premise but are only granted a 12month lease, your lease may come to an end before you are able to properly establish the business. Alternatively, if you are opening a temporary shop as your current business premises is under construction, it would not be suitable to sign a 5year lease given that you may only need to be in the premises for 12months. The lease term will be the first point of negotiating for a lease so it is essential that you receive legal advice from a leasing lawyer in this regard.
We generally recommend that you determine why you are obtaining the lease and what your intentions are with the premises, once this has been established you can determine what a reasonable lease term is and whether you require any options to renew the lease for a further term.
Usage of the premises
Contrary to the belief of many, the tenant is generally required to obtain approval from the relevant authorities for its intended usage of the premises. Our leasing lawyers will discuss this in depth prior to you signing the lease. Further, you may also need to consider whether there are approvals required from industry specific bodies. In the event that you are required to obtain the approval and you do not then you can not use the premises for your intended usage, you may still be liable to continue to pay the rent and other payments required under your lease.
Insurance
It is imperative that you obtain the insurances required as per the lease. You may be liable for any person being injured at the premises and you may also be liable for any damage or loss being caused to your fitout and equipment/stock. This could set you back thousands of dollars. Insurance is also an important factor when considering obtaining a lease. Our leasing lawyers will run through the insurance you should obtain depending on your lease and usage of the premises.
There are several other items which may be specified in your lease agreement. We recommend you obtain legal advice from our leasing lawyers before signing any documentation to avoid being bound by an agreement that you can not comply with or are not aware of the obligations that will arise for you in the future.
Our Sydney based leasing lawyers and team will be pleased to assist you. Leasing law can be made very simple with our leasing lawyers providing you the guidance and advice you require.
