As a business owner, navigating the realm of commercial lease agreements is paramount to the success and sustainability of your enterprise. Whether you're establishing a new venture or relocating your existing business, understanding the intricacies of commercial leases is essential. 

In this post, we'll discuss into the key components of commercial lease agreements and shed light on what Gold Coast business owners need to know.

Commercial Terms

  • Rent

Its crucial for business owners to carefully review and negotiate rent terms to ensure they align with their budget and revenue projections. Understanding whether the rent is gross, or net and any additional charges (such as outgoings) which need to be met is a key consideration.

  • Rent Review

 The method and frequency of these are a key facotr in the negotiation of a lease. We can assist you in ensuring these provisions are fair, and that you understand them well. 

  • Lease Terms

Lease terms outline the duration of the tenancy, including the start date, end date, and any renewal options. Commercial leases on the Gold Coast typically range from one to five years, although longer terms may be negotiated for stability and security. Business owners should pay close attention to lease terms, seeking flexibility where possible to accommodate potential growth or changes in business needs. 

Rights & Responsibilities

Commercial lease agreements set out the rights and responsibilities of both landlords and tenants. Landlords are typically responsible for property maintenance and structural repairs. Tenants, on the other hand, are responsible for maintaining their leased premises, ensuring compliance with local laws, and pay services as specified in the lease. Understanding these obligations is essential for both parties to ensure a smooth tenancy. 

Additional Considerations

These may include provisions for lease renewal, demolition clauses, permitted use of the premises, and assignment and subletting rights. Thoroughly reviewing and negotiating these provisions can help mitigate risks and protect the interests of both landlords and tenants.  

Seeking Legal Guidance

Given the complexity of commercial lease agreements, it's advisable for Gold Coast business owners to seek legal guidance from experienced solicitors specialising in commercial real estate law. A knowledgable solicitor can review lease agreements, negotiate favourable terms, and provide invaluable advice throughout the leasing process, ensuring that your interests are safeguarded. 

Conclusion

Our team, led by Carley Ronan, can assist you in negotiating, reviewing and finalising lease arrangements. A lease is a long term investment, so seeking the guidance of a qualified solicitor is key to ensuring a favourable and mutually beneficial lease agreement. 

Contact Holt Lawyers today.

Here's what our clients say

The team at Holt Lawyers have managed multiple property settlements for us and have been wonderful to deal with. Trish was wonderful at explaining things to us, incredibly prompt with her responses and made sure we were informed at every step. I would strongly recommend Trish and Holt Lawyers to help with your conveyancing.

Elyse May
Jan 2024

 

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Richard and the team were on the ball and great to deal with in a recent property transaction.  Very knowledgeable in their area of expertise and reached out to us for the accounting perspective to ensure both legal and accounting were handled simultaneously.

Adrian De Vito
Aug 2023

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Excellent lawyers! They assisted us recently with our new business lease, going through every dot point and ensuring that I understood what everything meant, as well as fighting for us in negotiations. They would not allow me to sign off on anything until they were absolutely satisfied. I very much recommend them and would use them again in the future.

Jess Bunty
Gold Coast Art School

Feb 2024

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