As a landlord, understanding the ins and outs of retail shop leases is crucial to maintaining a commercial relationship with your tenants while safeguarding your investment. Below are the key factors you should know when considering leasing your retail shop.
In Queensland, retail shop leases are governed by the Retail Shop Leases Act 1994 (Qld). This legislation provides significant protection for retail tenants and imposes strict obligations on landlords. Our solicitors can assist you in understanding your obligations and help you avoid any breach of the legislation if it applies.
Some businesses you might not expect are covered by this Act including convenience stores, butchers and nurseries.
If the permitted use falls under the Retail Shop Leases Act there are some rules you cannot contract out of.
These include:
The tenant you select will have a direct impact on the success of your investment. Before entering into a lease agreement, it’s essential to assess the tenant by conducting thorough investigations, reviewing their financial stability, and understanding their business model. A reliable tenant with a proven track record will reduce the risk of breaches and other issues down the line. We can assist with this process.
At Holt Ronan Lawyers, we ensure that your lease is clear, fair, and tailored to your property’s specific needs. Key elements we focus on include:
By understanding the key elements of retail shop leases you can minimise risks and maximise returns. Always seek legal advice when drafting or renewing leases to ensure the terms are fair and balanced, and comply with the law.
Disclaimer: This advice is general in nature and is not intended to be legal advice.
If you would like legal advice, please call our office on (07) 5619 0440 and we would be pleased to assist you.
Excellent lawyers! They assisted us recently with our new business lease, going through every dot point and ensuring that I understood what everything meant, as well as fighting for us in negotiations. They would not allow me to sign off on anything until they were absolutely satisfied. I very much recommend them and would use them again in the future.
Jess Bunty
Gold Coast Art School
Feb 2024
Richard and the team were on the ball and great to deal with in a recent property transaction. Very knowledgeable in their area of expertise and reached out to us for the accounting perspective to ensure both legal and accounting were handled simultaneously.
Adrian De Vito
Aug 2023
The team at Holt Ronan Lawyers have managed multiple property settlements for us and have been wonderful to deal with. Trish was wonderful at explaining things to us, incredibly prompt with her responses and made sure we were informed at every step. I would strongly recommend Trish and Holt Ronan Lawyers to help with your conveyancing.
Elyse May
Jan 2024