Does the Act apply?
The Act applies to many leases of shops in shopping centres and to premises used for prescribed retail purposes. Applying the wrong assumption in either direction creates problems.
Disclosure
A landlord must give a disclosure statement before the lease is entered into. Failure to do so can give the tenant rights, including termination in the first months. Get the timing and content right.
Minimum terms and outgoings
The Act sets rules on minimum terms, on what outgoings can be recovered and how they must be estimated and reconciled. Sloppy outgoings statements are the most common cause of retail lease disputes we see.
Bank guarantees and bonds
There are timeframes for returning security after a lease ends. Holding a guarantee for longer than permitted can be costly.
Ending the lease
Notice obligations around lease expiry are specific. Landlords who miss them can find the tenant entitled to stay longer than expected.
Most retail lease disputes are not about the law. They are about paperwork that was never done.
This article is general information only and is not legal advice. Contact YSA Partners for advice on your circumstances.