Most people think about renting a lease with regard to apartments and detached houses. Companies also use leases to rent buildings for themselves. This form of contract is called a commercial lease. Most businesses, such as shopping malls, restaurants, downtown offices and small mom and pop shops, don`t really have the property from which they do business. They`re renting it! In both cases, you should call us to make sure that your intentions are covered by the document, that the terms you wish are included in the lease or lease agreement, and if you wish it to be binding or subject to negotiation and signing of formal rental documents. The Retail Shop Leases Act 1994 (Qld) determines when a lease is a “retail store leasing.” Overall, retail leasing is a retail store lease or lease in a retail mall, but there are many exceptions. It is important to know, before entering into a lease agreement, whether or not the Retail Leasing Act applies. Every small entrepreneur should protect their operation and increase their chances of success by incorporating an exclusivity clause into the commercial lease. An exclusivity clause prevents a lessor from renting a room to another tenant who operates a similar activity and would therefore have a potentially negative effect on your success. If you are considering a lease, whether it is a commercial lease, a retail lease or otherwise, please contact our office to discuss how we can help.
A retail lease agreement refers to a contract by which one party transports land, real estate, services, etc. to another for a specified period of time, usually for periodic payment. A legal document detailing the conditions under which one party agrees to rent real estate from another party. A tenancy agreement guarantees the purchaser (the tenant) the use of an asset and guarantees the lessor (the owner) regular payments of the taker for a certain number of months or years. Both the tenant and the lessor must respect the contractual conditions for the validity of the tenancy agreement.