Before you sign a commercial lease with a landlord, you should understand that you are entering into a legal relationship which will bind you for the term of the lease.
If you breach the terms of the lease, your landlord can sue you for damages or take other forms of compensatory action against you.
From the perspective of a business owner, a lease is an asset and an integral part of a business and can mean continuous prosperous trade for the tenant for many years to come. If you decide to sell your business in the future, the importance of a good commercial lease becomes magnified and is just as important as the goodwill of your business.
- Our commercial lawyers at One Law can advise you on the following important matters for a variety of commercial leases:
- Whether the provisions of the Retail Leases Act NSW 1994 apply to the lease?
- What terms are favourable to you and what terms should be removed?
- If the landlord is charging you for something they are not allowed to do?
- Your right as a tenant to sub-lease to a third party?
- Your obligation as a guarantor if your company is leasing
- Any make good clauses and your obligations when you take over
- Terms allowing the landlord to terminate and take possession of the premises and if they are lawful under the law