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ARTICLE · 23 JUNE 2014

What to Consider when Entering into a Lease

Watkins Tapsell
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Entering into a lease can be complicated, for both landlords and tenants.

AustraliaReal Estate and Construction
Carli D'Aprile
Carli D'Aprile
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Entering into a lease can be complicated, for both landlords and tenants. But by making sure a few matters are clear at the beginning, the process can be made much smoother. We recommend that, at minimum, you consider the following:

  1. Term
    What will be the term of the Lease and what options will be available for further terms? There will be expense in relocating your business. You should try and negotiate a term that will help maximise your potential to make back any money that you spend in relocating.
  2. Rent and Outgoings and Turnover or just Rent
    Is the Lease a gross lease or will outgoings be payable in addition to rent? Do you have to pay turnover rent? Turnover rent is common in shopping centres, where tenants have to pay a percentage of their turnover to the landlord.

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