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ARTICLE · 14 AUGUST 2020

Watch this space: changes to the Retail Leases Act (Vic) coming soon

Among other changes, landlords will be pleased to be able to recover costs of essential safety measures from tenants.

AustraliaReal Estate and Construction

The Retail Leases Amendment Bill 2019 (Vic) (Bill) is one step closer to coming into effect and has passed through the Lower House of the Victorian Parliament. The Bill must pass through the Upper House before becoming law so in anticipation of this we have outlined the below key items in the Bill.

Essential Safety Measures

At present, landlords cannot recover the costs associated with their complying with essential safety measures or incorporate these costs into the calculation of outgoings. The parties can agree that the tenant meet some of the essential safety measures requirements. Under the Bill, landlords can recover costs associated with essential safety measures (including smoke detectors, fire extinguishers, sprinklers, etc.) from the tenant as outgoings.

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The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances. Madgwicks is a member of Meritas, one of the world's largest law firm alliances.

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