Retail leasing
What length of lease do I have to take for a retail shop?
The Retail Leases Act provides for a minimum lease term including any options of five years. This can be varied by mutual agreement only. Maximum lease terms can be as much as 30 years including options.
What is a Disclosure Statement?
A Disclosure Statement is essentially a summary of the key terms agreed between parties to a retail lease agreement. It is required to be provided within seven days of commencing negotiations. The form of the Disclosure Statement is proscribed by legislation. A sample can be found here.
