A lease is a grant of a right to exclusive possession of land or part of land for a fixed period.
Lessor / Landlord
This is the person granting the lease over the land.
Lessee / Tenant
This is the person receiving the benefit of exclusive possession of the land.
Lease / Tenancy
The formal grant of exclusive possession between the Lessor and the Lessee or Landlord and Tenant.
There are 3 types of leases, two of which are regulated by legislation and the other regulated by common law principles.
A residential tenancy relates to the leasing or ‘renting’ of residential property or rooms, including such properties as houses, flats, units, caravans, movable dwellings or rooms. A residential tenancy agreement is ordinarily prepared by the real estate agent letting the property.
A retail shop lease relates to the lease of a retail shop which is different to a commercial property. A retail shop means a premises situated in a retail shopping centre or used wholly or predominantly for the carrying on of a retail business. The Retail Shop Leases Regulation 2006 provides a detailed schedule of the types of businesses which are considered retail businesses. Generally the requirement is that the business is wholly or predominantly a combination of the sale, hire or supply of goods or services.
Examples of retail shop business include:
- The sale of antiques and used goods;
- Clothing shops;
- Cafes and Restaurants;
- Furniture and Appliance stores;
- Household appliance installations and repair services;
- Hardware stores;
- Fabric and soft furnishing stores;
- Floor coverings;
- Grocery stores;
- Bottle shops;
- Pet stores;
- Party supplies;
- Photography stores;
- Sporting and camping equipment;
- Beauty services, hair dressers.
Retail shop leases are ordinarily prepared at the cost of the Lessee / Tenant.
A commercial lease relates to all other tenancies and provides for those tenancies not covered by the retail shop lease legislation. These leases are ordinarily prepared at the cost of the Lessor / Landlord.
Essential terms of a lease
The law requires a grant of exclusive possession to the land or part of the land for a fixed or determinate term. These are the essential requirements of a lease.
At Life Law Solutions we can assist you with the preparation of both commercial and retail shop leases if you are the Lessor or Landlord. We can also advise you about both types of leases if you are the Lessee or Tenant. Our services include:
- Drafting commercial leases;
- Drafting retail shop leases;
- Advising on commercial leases;
- Advising on retail shop leases including the preparation of the required advice certifications of your accountant and lawyer and completion of disclosure statements;
- Preparing Deeds to renew any options included in the lease;
- Registering Leases and any required amendments with the Titles Office.
If you have further questions about leasing and how we can assist you, please contact our office on (07) 3343 9522 or (07) 5446 1745 or through our contact us service here.