Benefits of a long term lease There are many benefits to a long lease, these include: Security of tenure Business stability Opportunity to build goodwill Sufficient time to recoup the cost of the business investments Greater value – a business with a long lease generally has greater value than one with a short lease and …
Leases
11 October 2017
3 Lessons about Retail Lease Disputes
Retail lease disputes in Victoria and around Australia commonly arise in shopping centres in relation to relocation, exclusivity, fit out requirements, turnover rental, promotion funds and signage. For other shops, shared parking and repairs and maintenance are often the cause of argument. Old air conditioning units that are constantly malfunctioning test the understanding of the …
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Leases Property
10 May 2016
6 questions you should ask about shopping centre leases
Are you entering into a shopping centre lease? Here are some critical questions to consider: What will be my level of competition in the shopping centre? Larger centres often have an over-supply of similar businesses. An accurate picture of your level of competition is necessary for survival. Is there clear identification of the space I’m …
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Business Law Contract Law Leases
6 May 2016
8 tips when negotiating a commercial lease
1. Lease Cost Determine the monthly cost of the leased premises by multiplying the square metres of the premises by the price per square metre and then divide this number by 12. The resulting figure is the monthly cost. Negotiate rent free periods or a discount on the annual cost to limit your costs. 2. Term …
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Contract Law Leases
27 October 2014
Leases for business
The law of business leases The primary legislation covering retail leasing in Victoria, and for most shops and businesses – is the Retail Leases Act 2003 Vic (the Act) and the Retail Leases Regulations 2003 Vic (the Regulations). The commencement date for the Act and Regulations was 1 May 2003. All current leases that are …
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