Business & Commercial Leases

A lease is a legal agreement between a landlord and a tenant that grants the tenant the right to occupy premises owned by the landlord. At Prime Lawyers, our commercial lawyers can assist you with all aspects of leasing, including negotiating and entering into a lease, exercising an option to renew, assigning or transferring a lease, resolving lease disputes, and matters relating to licences or subleases.

Leases for businesses generally fall into one of two categories: Retail Leases and Commercial (Business) Leases.

Retail Leases

As the name suggests, retail leases relate to retail premises. Whether a lease qualifies as a retail lease depends on the Retail Leases Act, which sets out specific obligations for both landlords and tenants. These include disclosure requirements and a range of rights and responsibilities for both parties.

Business or Commercial Leases

Business leases that are not covered by the Retail Leases Act are generally referred to as commercial leases. Whether you are a landlord or a tenant, it is critical to consider and clearly document key terms before entering into a commercial lease. This includes what constitutes a default, how a default is handled, how and when the lease ends, and what obligations apply after the lease has ended.

Our experienced commercial lawyers can draft tailored commercial leases or provide advice to tenants on their rights and responsibilities.

For Landlords

A commercial lease prepared by Prime Lawyers will cover such items as:

– collecting unpaid rent and or other moneys owed under the lease;

– return of your premises and claims for future losses upon default;

– assignment or transfer of lease, in the event the premises is sold;

– rent review, bonds and insurance;

– director’s guarantees or personal guarantees.

For Tenants

Securing the right premises is often vital to the success of a business. We understand that the location and terms of your lease can directly impact the value and stability of your business. We ensure you fully understand the lease before signing and assist with negotiating terms to protect your interests, including securing future options to renew.

Some commonly overlooked points that we help tenants address include:

– unexpected outgoings, such as cleaning, lift and air-conditioning maintenance.

– duties and liabilities as a tenant.

– assigning or transferring the lease if you outgrow the premises.

– damage to the premises, making good the premises and painting and decorating following the end of the lease.

If you are the owner of a commercial premises or are about to enter into a commercial or retail lease we can provide you with the advice to make the best decisions. Please get in touch with your nearest Prime Lawyers office.