Retail Leases are regulated by individual State and Territory Governments in Australia. It follows that each state or territory has its own retail lease legislation and regulations (collectively, the Retail Leases Legislation).
The following table summarises the Retail Leases Legislation for each State and Territory in Australia:
In general, the Retail Leases legislation is enacted by each State and Territory to make their respective retail tenancy laws fairer for both tenants and landlords. Also, the legislation provides dispute resolution mechanisms in the event that there is a dispute about a retail lease.
Whilst the specifics of the legislation differs between States and Territories, retail leases usually have the following common features:
- The Landlord has disclosure requirements and must disclose all outgoings and other matters of importance to the tenant before the parties enter into the lease;
- The Retail Leases Legislation will only cover premises defined as “retail premises” in the State or Territory in which it is located. Importantly, each Act in the table above has a different definition of a retail premises;
- Some of the retail leases legislation contains minimum time limits and other requirements for the Act to apply. For example, in Victoria a retail lease must be a minimum of 5 years; and
- The Retail Leases Legislation in all states and territories contains provisions to restrict the landlord claiming key money and / or lease preparation expenses from a landlord.
Conclusion
LegalVision can help you negotiate the complex territory of retail leases and ensure that the applicable Retail Leases Legislation has been complied with and your Lease complies with the relevant Act for your State or Territory.
Don’t hesitate to call us today for a fixed-price quote on 1300 544 755. Our leasing lawyers are ready to assist.