Insight

Stay up-to-date with the latest from the Jenkins Legal Services team

  • Jenkins Legal Services

Revamped Retail Leases Act


Starting with a discussion paper in 2008, the Retail Leases Act has undergone intense scrutiny as the Government consulted with stakeholders to improve the legislation. An amended Retail Leases Act will commence on 1 July 2017, with extensive changes aimed at improving the relationship between landlord and tenant (lessor and lessee).

Some of the key amendments for lessors are:

  • The definition of “outgoings” will include any additional services the lessor has provided

  • The lessor disclosure statement will be simplified

  • Only leases with a term of 3 years of more will be required to be registered

Some of the key amendments for lessees are:

  • If a lessee is not provided with the required lessor disclosure statement 7 days prior to signing the lease, they can terminate the lease within 6 months of the commencement date and seek compensation

  • The lessor must disclose all outgoings to be paid by the lessee in the disclosure statement, if not disclosed, they are not payable

  • Lessor’s must return bank guarantees within two months of the lessee fulfilling all their obligations

  • There will no longer be a five-year minimum term for retail leases

  • Online Transactions will be excluded from determining turnover rent (with some exceptions)

The amended legislation will affect both landlords and tenants, so if you would like to know more about the changes please give Jenkins Legal Services a call on 02 4929 2000.

.


Recent Posts

See All

EXTENSION OF COMMERCIAL TENANCY RELIEF

On 23 October 2024, the NSW Government published the Retail and Other Commercial Leases (COVID-19) Regulation (No 2) 2020 (NSW), which commences on 24 October 2020. The key aspects of this regulation

An overview of family provision claims in NSW

While you might reasonably expect that if you make a valid will your estate will be distributed as specified in your will (unless there are exceptional circumstances), this is not in fact the case. Th

​Liability limited by a scheme approved under Professional Standards Legislation
  • Jenkins Legal LinkedIn
  • Jenkins Legal Facebook
  • Jenkins Legal Instagram
  • Jenkins Legal Twitter
© 2020 Jenkins Legal Services Pty Ltd