It is also just as important to consider
what obligations you have at the end of
the lease. Do you have to remove all works
which were constructed at the beginning of
the lease, even if they were constructed by
the landlord?
Redevelopment
If you are not sure exactly how any
of those things work, or what is or is not
covered, you should seek specific advice
and ensure that amendments are made to
the lease to ensure they are quite clear.
Landlord and tenant works
How your premises will look, and the works
required to achieve that, are important
considerations. When the works are to be
done, by whom and at whose cost, are
also important matters to be clear about
in the lease.
The property market is forever changing, and
many landlords have plans to redevelop their
properties at some time in the future. What
would happen to your business if, after you
have spent considerable time, energy and
money establishing your business in your
new premises, the landlord gave notice to
terminate the lease under a redevelopment
clause well before the end of the lease?
Other rights and obligations
The above are just some of the myriad issues
which should be considered and properly
addressed before entering into a lease,
particularly given that this is something you
will have to live with for a considerable period
of time. Leases are also typically not drafted
in the plainest of English, and what you think
a clause may mean may have a completely
different meaning from a legal point of view. It
is therefore important that if you are not 100 per
cent sure what something means, or whether
something is covered, you seek appropriate
advice and clarification in the lease.
This article has provided a general outline only of
some of the issues to consider before entering into
an offer to lease, lease or entering into possession
of premises. However, before doing so, legal and
financial advice should be obtained in relation to
the specific details of the proposed lease.
Leon Ponte, Juris Doctor (Law) is the founding
principal of Ponte Earle – Business Lawyers for
Business® and is in a select group of approximately
only 110 lawyers accredited as specialists in
business law by the Law Institute of Victoria. He has
a strong personal interest in the fitness industry,
holding Certificates III and IV, and has provided
advice to fitness facilities, personal trainers and
suppliers to the industry. ponteearle.com.au
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