© 2021 The Lease Bureau.
All rights reserved.
Web Design by Creative Feed

FAQ's

A. Yes – A Lease can include a right for a Lessee to terminate upon specific terms and conditions.

A. No – Because a Lease is “an interest in land”. The only entities capable of having such an interest are  a) an individual or individuals or  b) a Pty Ltd Company. The business name or fund name can be mentioned in the Lessor and Lessee panels but must be in (brackets).

A. If the original tenant (transferor) prepares and serves an Assignor’s Disclosure Statement on the incoming tenant (transferee) then the transferor’s maximum liability is two years from the date of the assignment or the date of the expiry of the Lease or the date that the Lease is extended, whichever comes first. If they don’t serve the Assignor’s Disclosure Statement they remain ultimately liable if the transferee defaults until the very end of the Lease. 

The above also applies to the liability of a guarantor.

A. Subletting is a generally used term to describe the arrangement whereas an Underlease is the name for the legal documents that put that arrangement in place and on a firm legal footing.

A. Yes – A Guarantor does not have to be a Director of the tenant company and they can be completely unrelated to the Lessee.

A. We can prepare a Lease over the land which contains a provision making the Lease subject to the completion of the shed. The commencement date can be set at the estimate completion date and the rent can start once the tenant has possession. 

The main issue with this situation is whether there is enough detail such as plans and specifications to ensure that both parties expectations are the same, as it often happens that disputes arise when the Landlord thinks it’s finished and the tenant should start paying rent but the tenant feels that there is more left to complete. 

A. You need to find out if the Strata Corporation policy will cover you if a part of your office was responsible for the accident. It may be that the Strata Corporation policy only covers the common area and not your office. In any event you should check with your insurance company as well as the Strata Corporation to ensure you are covered.

A. As at 1 September 2021, there are no current rules that oblige a Landlord to Suspend or Defer Rent in South Australia.

A. Assuming the Retail and Commercial Leases Act applies in the circumstances, the Tenant may be able to cancel the Lease. However, the Magistrates Court will look at a number of factors including how long the Tenant has been in the property and whether they were disadvantaged by not receiving a Disclosure Statement.
A. Even though the parties may not have formally signed the Lease, where they have partly performed their obligations, the common law doctrine of part performance may be relevant and may act to create a contract in equity on the terms set out in the unsigned Lease. Assuming the Retail and Commercial Leases Act applies to the property, the Tenant may have rights to a five year term if they have been in occupation and paying the Rent for at least six months. The Landlord may also be able to enforce the five year term created by the Act. It would be wise, if you are in this situation, to seek legal advice.
A. You are required by the ATO, assuming you are registered for GST, to send them 1/11 of the amount you charge your tenant for outgoings so you should definitely charge your tenant GST on top of the outgoings.
A. Generally it becomes a monthly “tenancy at will” and either party can give one months notice to end it.
A. Our leases provide for a 10% increase if the tenant stays as a monthly tenant.
A. Under our leases, the tenant does.
A. Registration of a lease means that it will be noted on the title to the land and therefore a future purchaser will have to abide by the terms of the lease. Generally registration is of most benefit to a tenant and as it is not generally to the landlord’s detriment you should probably allow it. It would pay to discuss it with The Lease Bureau first, however as there may be costs involved for the Landlord as well as the Tenant.
A.The equivalent of 4 weeks rent (not one calendar month but 4 weeks)
A. The best way is to have The Lease Bureau prepare an extension of lease document and include the variations in it. Once this is signed by all parties the new arrangement will be binding.

NEED ADVICE

© 2020 The Lease Bureau.
All rights reserved.
Web Design by Creative Feed