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ARTICLE · 12 NOVEMBER 2007

What To Expect When Your Lease Is Up!

Hall & Wilcox
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It is imperative to negotiate retail leases with the right to renew for a further term. Otherwise retail tenants leave themselves wide open for unjustified rent increases if they wish to stay for a further term.

AustraliaReal Estate and Construction
Bruce McFarlane
Bruce McFarlane

Negotiate Leases With Options To Renew

It is imperative to negotiate retail leases with the right to renew for a further term. Otherwise retail tenants leave themselves wide open for unjustified rent increases if they wish to stay for a further term.

If there is no option to renew in a lease, the landlord has no legal obligation to give the retail tenant a further term, this is despite if the retail tenant has built up a lot of goodwill in the retail premises.

Reality Of Shopping Centre Leases

Unfortunately, shopping centre landlords rarely signoff on a lease with a right of renewal. Why would they when there is so much to gain when a lease ends. Landlords can increase the rent without making it reflective of market and demand the retailer pay substantial capital on refurbishing their tenancy for the next term.

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