Lease

The Lessor and Lessee disclosure statements required in NSW for lease of a retail shop under the Retail Leases Act 1994. It includes all the information required by Schedule 2 of the Act and some additional information related to the responsibility for fitout and refurbishment for taxation purposes. It needs to be given by the Lessor/Landlord to the Lessee/Tenant at least seven days before the signing of the Lease.

A commercial lease designed for a single property (one that does not involve other tenancies). This is a very detailed and legally precise lease. It assumes a high degree of equality between the lessor and the lessee (i.e. it is not prepared in favour of the lessor as many leases are). It is very clear on who is reponsible for what costs. The landlord covers municipal rates, water and sewerage rates and land taxes. It assumes the term of lease to be up to three years.