Practice Areas

Property

Leases

Most people have at some time entered into a lease or tenancy agreement for residential premises, these are highly regulated ensuring no need for legal involvement in most cases. Leases in relation to business premises are much more complicated and often form one of the most significant components of the value of a business. For this reason it is important to consult your solicitor before you enter into a lease.

A lease gives the business owner an exclusive right to occupy the premises and operate the business from that premises, they contain many provisions, will cover a long period of time and cover a substantial amount in rent over this period.

The most common types of leases businesses enter into are for office space, a retail outlet, including shop and restaurant, a warehouse or factory. The lease for business can be divided into retail leases and commercial leases. The difference in relation to the relevant regulations is important. When entering into a lease it is important that you understand what you are getting use of, on what conditions, what permission is required form third parties, who pays for what and what happens when the lease is over.

The estimate of fee for drafting a Retail Lease is $1,300.00 plus disbursements.

The estimate of fee for drafting a Commercial Lease is $1,500.00 plus disbursements.

The estimate of fee for reviewing a Retail Lease is $1,000.00 plus disbursements.

The estimate of fee for reviewing a Commercial Lease is $1,200.00 plus disbursements.

Invariably disputes do arise in respect of leases. When a dispute does arise, it is important to understand you legal position quickly to avoid increased loss. As a result of the many types of leases there are many different Courts and Tribunals that can deal with such disputes and it is essential that you understand the appropriate place for these proceedings should it be necessary.


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