Properly prepared lease documentation protects the interests of all parties, whether it is for residential housing tenancy agreements, commercial shop leases or farming leases.
From a commercial perspective, it is imperative that any lease or rental arrangement involving real estate is documented in a complete and legal form. This will avert a wide range of difficult situations and minimise the potential for conflict.
Properly prepared lease documents ensure that:
- Landlords cannot unexpectedly and significantly increase the rent for a property. Without a written lease, the Tenant's options would be to pay up or get out.
- Tenants have security of tenure to promote to potential purchasers if they decide to sell their businesses.
With commercial arrangements, Germein Reed recommends that leases be registered. This protects a Tennant's right of occupancy if the Owner sells the leased property during the term of the lease.
Legislation requires that the Owners of shop premises provide prospective Tenants with a disclosure statement in a legally defined format. This is designed to ensure that prospective Tenants have a sound body of information against which to assess the suitability of premises to their need.
The Germein Reed team regularly acts on behalf of property Owners and Tenants to prepare and assess leases. We welcome the opportunity to assist you.
Team members who provide these services: