Commercial leases are important documents that are usually in place between a landlord and tenant. There are many issues to consider including:
- For landlords whether a lease should be registered on the personal properties security register to protect furniture, machines or fit out
- Disputes over leases especially in regards to obligations over outgoings
- Interpretation, bargaining and negotiation over typical terms and conditions such as:
- the period of the lease
- renewal options
- rent and the rent review mechanisms, for example, CPI increases
- maintenance and repairs obligations
- fit out scope
- landlord rights for entering the premises
- the process for dealing with tenant breaches and dispute resolution clauses
- the scope of the tenant’s obligation to “make good” the premises at the end of the lease term
- indemnity and liability for damage to the premises
- insurance required to be held
- bank guarantees and security deposits.
NB Lawyers can assist landlords and tenants negotiate, bargain and prepare lease documentation that protects your rights and ensure you understand your legal obligations – preventing any future surprises.