Often a landlord or tenant will rely on a ‘standard’ lease to protect their interests and will not review the lease in any detail unless a dispute has arisen, or the lease is about to end. This is because many people do not appreciate the value of a properly worded lease until they need to rely on a clause that has been omitted, or are caught by a term or condition that could have been removed prior to signing the lease. Whether you are a landlord or tenant, it is important to seek legal advice from an experienced lawyer before entering a lease. This is because your lease not only sets out the rent and size of the property you intend to lease, but also how the property can be used, how to calculate future rent, and other terms and conditions that if you are not properly advised have the potential to impact you negatively at a later stage.
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Contact the Watts McCray Property and Commercial team for assistance with your retail or commercial lease on (02) 9283 5877.