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...
Thursday, 26 January 2017
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...
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