Our experienced retail leasing lawyers can help you prepare or review your documents so you can move forward with your business with confidence.
Retail leases
Retail lease agreement
There are many different factors that can impact what type of business structure best suits your needs and objectives. Some things to consider include:
A retail lease agreement should outline the rights and obligations of both the landlord and tenant. This may include:
- How long the lease will go for;
- How much rent will be paid and when;
- When or if the rent can be increased;
- Whether a deposit or bond is required;
- How you can renew the lease;
- What the tenant can and can’t do on the property;
- Who is responsible for building works and repairs.
Some of these rights and obligations have more detailed requirements under the law. For example, a tenant is entitled to a five-year retail lease agreement. The landlord must also give the tenant a disclosure statement before the lease begins. There are specific legal requirements about what this document must include.
Our experienced lawyers can guide you on your options and prepare your retail lease agreement and disclosure documents.
Why MNG Lawyers
Frequently Asked Questions
The Victorian Small Business Commission (VSBC) has the power to investigate and mediate rental lease disputes that involve small businesses. Any person involved can ask the VSBC to mediate their retail tenancy dispute.
Only after the retail lease dispute has been referred to the VSBC can it go to the Victorian Civil and Administrative Tribunal (VCAT) to be heard. VCAT has the power to make orders about a retail lease including making one party pay compensation or requiring them to give someone possession of the property.
There are some specific costs that a landlord cannot pass onto the tenant in a retail lease agreement, including the cost of preparing the retail lease agreement, any land tax paid on the property, capital works and repairs and maintenance. Our lawyers can give you advice about what costs you can and can’t include in your retail lease agreement.