A commercial tenancy agreement is a lease agreement for retail, office or industrial spaces between the owner and the tenant. The tenant pays a monthly sum to the lessor in exchange for the right to use the premises for his use. Commercial leases are generally longer than housing types, between 3-5 years, and it is common for tenants to have options to extend at predetermined monthly rates. Office Lease Agreement – For business environments that are not considered retail. The Retail Shop Leases Act 1994 (Qld) determines when a lease is a “retail store leasing.” Overall, retail leasing is a retail store lease or lease in a retail mall, but there are many exceptions. It is important to know, before entering into a lease agreement, whether or not the Retail Leasing Act applies. In Queensland, leases are usually written contracts and are registered with the Landtitelamt. The Australian Department of State`s “Look before you lease: Avoiding the fall in retail leasing” booklet is for people considering signing a new lease for an economic site. It can help answer general questions about retail leasing throughout Australia, but remember, there are some specific differences between states and territories. Where a retail rental agreement contains a rent provision to be determined in whole or in part on the basis of the company`s turnover, the tenant should receive a copy of the voting form before the provision is registered.
The tenant has the choice to base the rent on the turnover and must fill out and make this form available to the landlord. The Tenant Guide provides information to retail/commercial tenants who are covered by law to help them understand their rights and obligations. A retail rental defines the relationship between a landlord and a tenant of retail properties. It is important to fully understand your rights and obligations as a retail tenant or landlord. Use a lawyer or design the lease yourself. Be sure to collect all the information about the property and the tenant and conclude the contract. Once completed, the document should be signed in the presence of a notary with the tenant and the landlord.