Retail Tenancy laws throughout Australia have been developed to protect the interests of small business tenants and to assist in levelling the playing field for the parties involved in a Retail Shop Lease Agreement.
The law seeks to provide tenant’s with a greater degree of protection by making sure that prospective tenants have sufficient information to assist them in making sound business decisions about entering into or renewing a Retail Shop Lease.
The type of lease you enter into will depend on a number of factors, most important of which is what the premises itself will be used for.
Whether you are a landlord or a tenant it is imperative you understand your rights and obligations under the relevant Act and honour your obligations under the lease agreement to ensure you comply with the law.
Each state has its own legislation or Act that defines what constitutes a retail tenancy. Generally speaking, if a premises is used for the retail sale of goods or services to the public or is located within a shopping centre or cluster of retail shops owned by the same landlord, then it will most likely fall under the retail tenancy legislation.
You may also be interested in Commercial Lease Agreements for commercial premises like offices, warehouses and factories.
All states require the Landlord to provide a retail tenant with a Disclosure Statement. The Disclosure Statement sets out all of the pertinent information contained in the lease and outlines all of the costs associated with the lease in a way which is clear and easy for the tenant to understand.
Most states require a retail tenant be given a minimum 5 year lease term (including options). If the term is less than 5 years and the tenant has not waived this requirement, then the term is automatically bumped up to 5 years.
DIY Legal Kits allow you to create your own legislation compliant Retail Tenancy Lease. The kits contain:-
