Network Magazine autumn 2015 | Page 54

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 MEMBERSHIP EARN YOUR FREE CEC! Every issue of Network magazine includes an article linked to a FREE 1-CEC exam, which you can complete at fitnessnetwork.com.au/cecs. This quarter, the multiple-choice exam is based on ‘Legally Fit: Are your premises legally fit?’ and two other online articles by Leon Ponte. To earn yourself 1 CEC, simply log on to fitnessnetwork.com.au/cecs, click on the FREE tab and select ‘Legally Fit’ from the list. Read the linked articles online, successfully complete your exam, print your certificate and you’re done! For help logging on to the site, please email [email protected] or call our friendly team on 1300 493 832. 1300 493 832 | FITNESSNETWORK.COM.AU/CECS 54 | NETWORK AUTUMN 2015