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Leasing Premises? See Us First

Peter Rouse and Vikki Eppell

Entering a commercial or retail lease can be daunting. The sums of money involved when you multiply the annual rent by the number of years in the lease term can be quite significant. With such large sums of money and liability at stake, there is risk for both tenants and landlords, and each of those parties must give serious consideration to a range of issues.

WHAT LEASES COVER

Leases are lengthy legal documents – there are many things to cover. These matters include:

  • how rent is reviewed;
  • who is to pay outgoings and what is included in outgoings;
  • what improvements the parties will make to the premises;
  • make good obligations when the lease ends;
  • the provision of personal or bank guarantees; and
  • what happens if a party to the lease defaults.

Given the length and complexity of most leases, they should be carefully reviewed to ensure that they reflect the true agreement between the landlord and the tenant.

AGREEMENTS TO LEASE

In many instances, an Agreement to Lease is entered into before the formal documentation is produced, which is often prepared by an agent. The main purpose of an Agreement to Lease, also called an ‘Offer to Lease’ or ‘Letter of Intent’, is to set out the basic terms of the proposed lease. It is very important that your legal adviser is involved in this pre-agreement stage, as the binding nature of these documents can be unclear. It is also difficult to negotiate away from these “pre agreement” terms in the formal lease.

TAKEAWAY

If you are a landlord or a tenant and are considering a lease, please call us for advice prior to signing any documentation, even if the agent advises you that you are not bound by the document you are signing.

July 12, 2013 Filed Under: Franchising

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Client Reviews

"Engaged to implement our franchise system and structures for expansion"

“After aptly handling a previous long-term dispute of ours in such a competent manner, Rouse Lawyers were engaged to implement our franchise system and structures for expansion. The commercial advice and timely assistance provided by Matthew and Peter has been outstanding.”

Andrew LamontFederal Pest Control

"Their knowledge of franchising is comprehensive"

“I have tried several of the larger law firms at the big end of town but found their services to be quite bland and predictable. Rouse Lawyers’s style of operation suits me much better, their knowledge of franchising is comprehensive, and just as importantly, their thinking is distinctly street wise and entrepreneurial.”

Ross ClaytonThe Vast Interior, Head Franchisor

"We call upon Rouse Lawyers for their invaluable advice"

We have used Rouse Lawyers over the past 3 years, predominantly in our mergers and acquisitions activities. Matthew and his team understand the needs of larger family businesses, and their pragmatic and commercial approach to transactions is first class. From personal matters to large deals, we call upon Rouse Lawyers for their invaluable advice.

Tom FalkensteinTotal Records Management

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BRISBANE OFFICE

Ph: +61 7 3648 9900

Fx: +61 7 3648 9911

Level 2, 22 Wandoo St, Fortitude Valley, QLD 4006

17-Page Guide Reveals:

How To Protect Your Business and Your Assets While Allowing Your Business To Thrive

Written by Matthew Rouse, commercial lawyer and founder of Rouse Lawyers.

17-Page Guide Reveals:

How To Protect Your Business and Your Assets While Allowing Your Business To Thrive

Written by Matthew Rouse, commercial lawyer and founder of Rouse Lawyers.

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