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....
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...
Bought a Property with a Periodic Tenancy – What does that mean?
A buyer has purchased a property and on the contract, the tenant schedule has been filled out with the term of lease stated as “periodic”. This can be confusing to understand what does periodic mean, when does the tenancy end and how does it impact a buyer’s intention to use the property.
What does it mean?
A periodic agreement is defined by the Residential Tenancies and Rooming...
Negotiating Commercial And Retail Lease Agreements In The Wake Of COVID-19
Negotiating Commercial And Retail Lease Agreements In The Wake Of COVID-19
The recent COVID-19 pandemic has forced tenants and landlords alike to be more flexible with their working and financial...
Protections For Landlords: Retail Shop Leases And Other Commercial Leases Regulation 2020
The Retail Shop Leases and Other Commercial Leases (COVID-19 Emergency Response) Regulation 2020 is one of the latest pieces of legislation enacted as a result of the COVID-19 pandemic. This legislation was made under the COVID-19 Emergency Response Act 2020 (Qld) and Retail Shop Leases Act 1994 (Qld) with the purpose of mitigating the effect of COVID-19 on small...