Commercial lease format NSW v VIC

In NSW leases for small offices/warehouse where the term is lease then 3 years are often completed by the agent using an REI commercial lease commonly referred to as a ?yellow lease?.

I assume the equivalent in Victoria is an REIV version.

Some questions regarding the VIC version
- Does the restriction of agents only being able to prepare a lease of less then 3 years apply in VIC?
- Does anyone have a sample of an REIV commercial lease?
- Are there common lease preparation fee being charged by agents for commercial leases in Victoria?

Thanks for any feedback.

Not sure on the cost but the only restriction on lease term in VIC that I know of is if it's subject to the Retail Leases Act 2003 the total term (including options) has to be at least five years.

From memory the key to determining if a lease is subject to the Act is if the tenant "wholly or predominantly uses the premises for the retail sale of goods or the retail provision of services". It's the second part that sometimes captures "industrial" property.

The RLA provides that the lessor must offer a 5 year term but the tenant can counter with a lesser term. Each party bears its costs under a retail lease.

If memory serves me right the conveyancing act governs the length of lease which can be prepared by an agent.

Thanks guys.

You are correct on the RLA. I am familiar with both the NSW & VIC versions of this act. In this case the premises are straight forward office space so it does not fall under the RLA.

I will look into the Conveyancing act.

I am still trying to track down a draft version of the REIV commercial lease for comparison.

Give one of the victorian agents a buzz, they should be able to shoot you a blank copy.

All the ones I have done in Vic in the past have been solicitor drawn & registered.

Not sure if this link will work for you: Linky===> Sample REIV

Linky===> REINSW

Thanks, I had found that link.

A Vic agent from another forum was kind enough to forward a sample document.

Their is no real difference between the NSW & VIC leases. Some legislation which is referenced is State based, otherwise they are similar leases.