A commercial lease is an agreement/contract between a landlord and tenant outlining terms and conditions of property rental. A commercial lease is specifically for business and can include a variety of clauses, terms and conditions that need to be considered before signing.
Some can include:
- The duration of the lease
- Rent or rate increases
- Outgoings such as rates, land tax, strata, management fees and water rates
- Repairs and maintenance
- Re-entry Deeds
- Insurance obligations and requirements
- Market rent appraisal
- Caveats on a title/property you are leasing
- Dispute Resolutions
There are many more variables that need to be considered when entering a commercial lease. It is wise to seek legal advice and we at JLM Conveyancing can help.