Leases are the contractual arrangements entered into between a landlord and tenant for the rent of a premises or other structure. While people enter into leases for the rent of a residential property (such as a house) every day, Commercial leases are far more complicated and have far greater liabilities attached to them.
Leases are lengthy and there are many terms that need to be closely considered before entering into the lease. Certain issues that need to be considered within a lease are:
- The rental costs
- The renewal terms
- Who is responsible for additional services, insurance, or rates
- The facilities that are included in the lease
- Early termination liabilities
- Cost of repair to building
Given that a standard commercial lease can span at least 5 pages in length, it is important that legal advice is obtained before signing. It is important to remember that you can negotiate the terms of the lease if you are not happy with the terms as presented to you.
Whether it is a residential lease or commercial lease Queensland Law Practice can provide legal advice so that you know your position before entering into a lease or alternatively QLP can provide advice if you believe that the terms of the lease have either not been complied with or funds have been unfairly withheld.