Office undergoing make good

Make Good Tips

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Make good obligations, also known as lease exit obligations, are often overlooked but can be one of the most important clauses within a lease.  The make good clause generally requires the Tenant to bring the premises back to its original condition at the commencement of the lease. Often the clause can be very onerous on […]

Landlord giving tenant document as required under Retail Leases Act

What documentation should a Landlord give you?

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As a Retail Tenant in Victoria under the Retail Leases Act, a Landlord is required by law to provide you with certain documentation before and after you sign your lease and during the term of your lease. It is important to understand if you are a Retail Tenant under the Act as this will outline […]

Make Good works at an office

What is a make good?

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Within a commercial property lease, it will state that you are required to ‘make good’ or ‘yield up’ the property at the end of your tenancy. There is no standard for a make good and each lease can vary. It is crucial that you read the requirements within your lease to determine exactly what your […]

Shop owner with Commercial Lease Agreement

Are you a Retail Tenant in Victoria? Probably.

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Entering into a new commercial lease can be a daunting experience, especially if you’ve never done it before, and understanding what your rights are is crucial. In Victoria, it’s important to work out if you are a Retail Tenant under the Retail Leases Act 2003. Most small businesses are – you don’t have to be […]

Calculating a CPI Rent Review

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The Consumer Price Index, or CPI as it is generally known as, is “a measure of the average change over time in the prices paid by households for a fixed basket of goods and services.”(1) In Australia the CPI is measured every quarter ending 31 March, 30 June, 30 September and 31 December with the […]

How to get out of your commercial lease

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A business owner may want “out” of their commercial lease agreement for a host of reasons. Perhaps the overhead is too high and the business needs to downsize. Or perhaps the business is expanding rapidly and requires a larger premises. Whatever the reason, how easy (or hard) it is to exit your lease early will […]