does my lease fall under the retail leases act
- Thread starter tang
- Start date
If it is in NSW, probably not
see Schedule 1 of the Retail Lease Act
http://www.austlii.edu.au/au/legis/nsw/consol_act/rla1994135/sch1.html
thanks terry
the REI NSW commercial lease template says on the top states
Suitable for small office buildings, factories and shop premises which are not the subject of the Retail Leases Act 1994 where the
term of the lease (including the period of any option) does not exceed three years.
my lease is over 6 years including options. the permitted use is not listed in the RLA (garage)....so does that mean that i have to pay the landlord's reasonabl cost of preparing the lease??? as per standard clause 22 of the template
Costs
22. a The Tenant shall pay their own legal costs and the reasonable legal costs of the Landlord in relation to the preparation
of this lease.
b The Tenant shall pay the stamp duty and registration fees (if any) payable in connection with this lease.
thanks as always terry
Probably..
You pay for what you have negotiated - if you have agreed to pay the Lessor's costs then you wear the lot, if you have negotiated a cap on the cost then you pay that amount. If you haven't agreed to pay lessor's costs, then it is their problem.
Failure to negotiate all terms sets you up for several falls.
(if you are a property undergrad, you should have plenty of resources at uni to ask, as well as learnt how to read the RLA, what is a retail lease/what's not etc).
Failure to negotiate all terms sets you up for several falls.
(if you are a property undergrad, you should have plenty of resources at uni to ask, as well as learnt how to read the RLA, what is a retail lease/what's not etc).
1. Do you actually have a lease yet or are you currently negotiating the lease for the initial term? If initial term - fees are negotiable and in this market each should bare own.
2. If you already have a lease and you are talking about legal costs to draw up a new lease for an option term, the clause relating to the option should dictate costs. If its silent, its negotiable and you should push for each party to bare own costs.
2. If you already have a lease and you are talking about legal costs to draw up a new lease for an option term, the clause relating to the option should dictate costs. If its silent, its negotiable and you should push for each party to bare own costs.
