Wait! Make sure your lease is in writing and signed before it commences

This is important whether you are a tenant or a landlord.

Without a written agreement in place, there is no evidence as to the actual agreement reached with respect to essential lease terms such as:

• rent review dates and methods
• outgoings that the tenant is required to pay
• ownership of any fixtures affixed by the tenant or any items supplied by the landlord for the use and enjoyment of the tenant
• responsibility of any liability or damages claims
• responsibility of maintaining insurances
• responsibility of maintaining, servicing and replacing any capital items or items supplied by the landlord for the benefit of the tenant
• requirements and obligations of the tenant and the landlord upon expiry of lease or default of lease.