Leasing a shop – requirements

Are you putting up a business and want to lease a shop?

We suggest that you check the following:

(a) Read the disclosure statement on the term of the lease, the rent, the outgoings and rent increase every year, security bond required and the allowable use of the premises.

(b) Check with Council on whether your business is allowed on the shop and apply for permit, if a new line of business will be carried on the shop

(c) Negotiate with the lessor on possible rent-free period especially if you require new fit out.

(d) Check the accounting books and discuss with your accountant on the viability or profitability of the business.

To protect your agreement, you have to register the lease if the term is 3 years or more, including the option.

Our solicitors have the requisite years of experience to assist in your lease to make sure that you fully understand the legal requirements in leasing a shop premises. Call us on (02) 96356500.