Retail Leases Comparative Analysis
For a retail landlord or retail tenant, retail tenancy legislation can be a minefield, a trap for young players and a downright headache. The fact that each State has its own Act (each inconsistent with the other, and each inescapable), makes property managers long for a career move.
We have tried to make our job and yours easier by preparing a user-friendly analysis of retail tenancy legislation.
The analysis allows you to compare provisions of the legislation in one jurisdiction against legislation in other jurisdictions.
This update is current for all jurisdictions as at 1 January 2021.
The most significant change to retail tenancy practice since our last update is the commencement of the Retail Leases Amendment Act 2020 (Victoria). With effect from 23 September 2020, landlords are now able to recover from tenants the costs of essential safety measures if the tenant agrees to bear those costs in the lease. The remaining changes introduced by the Amendment Act apply from 1 October 2020 and include the introduction of a new early rent review process, giving tenants the ability to request a rent review before they exercise their option for a further term. Our commentary has been updated to reflect the changes to the rights and obligations of landlords and tenants in Victoria as a result of the Amendment Act.
State and Territory responses to COVID-19 have also had a temporary impact on retail leases. Further details in relation to the COVID-19 responses for each State and Territory can be accessed here.
Clayton Utz has extensive expertise in acting for landlords and tenants on retail tenancy matters and on shopping centre and commercial property acquisitions, joint ventures, sales and development matters generally.
If we can assist you in any aspect of your retail business, or any other business, please refer to the Contacts page for the lawyers in your State.