The following are typical
of the FAQs we receive from tenants:
I have been given a Letter of Offer to lease retail premises by the landlord’s real estate agent. What should I do now?
Ideally, you should not sign the Letter of Offer before:
conducting physical due diligence of the building structure and the landlord’s fixtures, plant and equipment contained within it. In this regard, we recommend a building report be obtained from a qualified tradesperson. Similarly, a suitably qualified tradesperson should inspect all...
Thursday, 6 April 2017
PPSR - Audit and amend your apparent credit risk profile
The Personal Properties
Securities Register (PPSR) established
under the Personal Properties Securities Act 2009 (Cth) (PPSA) records security interests held by creditors over certain
personal property of debtors.
A consequence of registration of
security interests over the assets of a debtor, is that registration may also
provide an indication of the apparent credit risk of the debtor to the world at
large. For example, numerous PPSR registrations over a company is likely to
indicate that the company may be indebted to numerous creditors....
Sunday, 26 March 2017
Crowd-sourced equity funding arrives in Australia
In March 2017, the Corporations Amendments (Crowd-sourced Funding) Bill 2016 passed the Senate with the resulting Act to take effect in late September this year.
Without a doubt, this is a significant piece of legislation as it will provide certain Australian corporations with an avenue to raise equity finance outside the current onerous and expensive regime. The previous legislation, Chapter 6 D of the Corporation Act...
Monday, 13 February 2017
ASIC warns about scam emails
On 17 January 2017, ASIC issued a Media Release warning its customers to be vigilant of a scam involving emails to customers purporting to be issued by ASIC.
The media release reports that ASIC “is aware of some customers having received emails containing attachments or links to the fake invoices. Fake emails may look different to ASIC emails and generally instruct the recipient to click a link to make a payment or download an invoice”.
The media release suggests the scammers are using viruses, spyware or malware programs to access...
Thursday, 26 January 2017
Renewing Victorian Retail Leases
Where a tenant has an option for a further term granted to it under the terms of a lease (or a subsequent deed varying the lease), in the majority of cases for standard commercial (non-retail) leases it is the tenant that takes the first step in exercising the option.
For the exercise of the option to be valid, the option must be exercised within the option exercise period defined in the lease. If the tenant exercises its option outside the option exercise period, the landlord is generally not obliged under the terms of most leases...
Tuesday, 10 January 2017
Retail Leasing
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Landlords should avoid delays in providing executed Lease document to tenants
Section 22 of the Retail Leases Act 2003 (Vic) (RLA) provides:
Within 28 days (or such other period as is agreed in writing between the landlord and the tenant) after being given a copy of the retail premises lease signed by the tenant, the landlord must give the tenant a copy (which may be a photocopy) of the lease signed by...
Thursday, 13 October 2016
Entrepreneur visa
The
Australian Department of Immigration & Border Protection (DIBP) is making
changes to the visa system as part of the National Innovation and Science
Agenda.
It is
intended that these changes will help Australia attract and retain the best and
brightest entrepreneurial talent and the skilled, talented people Australia
needs to drive ideas from research to commercial reality.
On 10
September 2016, DIBP launched a new Entrepreneur visa’ stream and amended the
‘points test’ for the skilled migration programme.
The
Entrepreneur...
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