Tips and Tricks for Getting the Most Out of Your Lease
1. Rent review mechanisms
Where possible, put a cap on increases in market rent reviews.
2. Assignment of Lease provisions
Ensure they are not overly restrictive and allow you to sell your business easily.
3. Description of the use of the premises
Try to make the description broad so that the premises can be used for a variety of purposes.
4. Length of term
Consider the use of options.
5. Flexibility with space
Options and first rights of refusal over additional space can provide you with flexibility to increase the size of your premises.
6. Repairs and maintenance
Ensure the landlord pays for capital and structural items.
7. Make good
Try and limit your make good obligations so your end of lease expenses are kept to a minimum.
Our team can also help you with assistance in a broad range of other areas:
Examples include liquor licensing, contract disputes, employment law, family law, and drafting and reviewing a broad range of contracts for your business, to name a few!
If you or someone you know requires assistance, give us a call on 9389 3999. We are happy to have an initial chat at no cost.