What are Lease Outgoings and who Pays them?
A business leasing premises should be aware of the payments they need to make to the lessor. Not only does a lessee need to pay rent but they may be required to make additional payments termed as outgoings. Payment of outgoings is quite common in leases. It is important to note what the term “outgoings” covers and how a lessee can determine the amount to pay on top of their rent....
Body Corporate Law Reform – How does it impact unit owners?
On 1 December 2022, amendments were made to some key body corporate legislation. These amendments aim to modernise the Building Units and Group Titles Act 1980 (Qld) (BUG Act) and Mixed Use Development Act 1993(Qld) (MUD Act), by mirroring the recent amendments made to Queensland’s main body corporate legislation, the Body Corporate and Community Management Act 1997 (Qld) (BCCM Act)....
Statutory Wills – Can you make a Will without testamentary capacity?
One of the fundamental requirements of making a Will is that the will-maker must have the requisite capacity to make decisions about their assets as they wish. This can be problematic for those who have made previous Wills but suffered from mental health diseases and no longer able to make decisions about dealing with their assets themselves. It is also an issue for people who have...
Lease Make Good Clauses – What Does do they Mean?
It is not enough to simply vacate the lease premises if a clause imposes an obligation to make good the premises. It is important for lessees to identify what making good the premises means and what actions they need to undertake if they identify such a clause is inserted in their lease.
What is a Make Good Clause?
At the end of the lease, the lessee will have...
When should a Lessee Renew their Lease Option?
Leases often come with a possibility to extend the lease for a certain period of time. This is considered a lease option period and if the lessee wants to pursue extending their lease, there will be obligations and deadlines the lessee must achieve to be granted the lease extension.
Renewal Requirements
Note that a renewal option is not an inherent right...
Granny Flat Agreements – is it a Viable Estate Planning instrument for elderly parents?
It is common for elderly parents to move into their child’s home in order for their child to take care of them. Some may even say it is the circle of life, we are taken care of by our parents as children and then children take care of their parents when they become elders. However, there are a number of unthinkable events that could occur which will impact a parent’s ability to live...
Appointing an Attorney – What if you do not have an Enduring Power of Attorney?
Appointing someone to act on your behalf once you have lost mental capacity is an important decision. Not only do you need to find someone who you trust will make the decisions for you, but you also want to make sure they are eligible.
Who can be an attorney?
The criteria to meet to be an eligible attorney is relatively low....
Building Management Statement – What are they?
Changes to the Real Estate Institute of Queensland (REIQ) contracts have come into effect for residential unit purchases. A buyer’s method of terminating a contract now includes failure to register an interest. It is important for buyers, sellers and body corporates to understand what a building management statement is and how it...
Advance Health Directive – Do you need one?
There may come a time where you suffer an injury or accident which impacts your ability to make and voice your decisions on medical treatments. If you want to make your preferences known on whether to accept or reject particular medical treatments on your behalf, then you may wish to consider having an Advance Health Directive...
5 things you should be considering before you even receive a draft lease
Looking to enter into a Lease – 5 things you should be considering before you even receive a draft lease?
Looking for premises to conduct your business can be a time consuming and daunting process. Having a lawyer who is able to review draft leases, provide advice and recommendations will greatly assist...