It is understandable that individuals and businesses are keen to transact directly and reduce costs by nutting out lease terms before seeking legal advice, but the big question is, do you need a lawyer, and when is it best to get your lawyer involved in your next lease transaction?

Why using a lawyer is a smart investment:

A lease, while simple in its concept, is intricate in detail.  It is a document which governs the relationship between landlord and tenant for an extended period of time, sometimes years and decades. 

It is for these reasons that spending money on legal advice prior to entering negotiations is a smart investment in the future, ensuring that all key matters are addressed, and negotiated in your favour as much as possible. 

When should you speak with your lawyer? 

Ideally, prior to negotiating a heads of agreement, and at the very least, prior to signing a heads of agreement.  A phone call or email to your lawyer will ensure you enter negotiations in the strongest possible position, with knowledge of exactly which matters you need to address and reach agreement upon.

When legal advice is sought after a ‘deal’ has been struck, it is common for the other party’s lawyer to dig their heels in and refuse to negotiate away from the ‘deal’.  This may mean an essential term is not included in the lease to your detriment.

Key things your lawyer can advise you on:

Capping of rental increases and outgoings, rental review structures which may best suit you, due diligence on onerous and unusual owner’s corporation rules, services available to the premises and their cost to you, make good clauses, planning permits and compliance with retail lease legislation.

Our advice, give us a call as early as possible, and we can help you decide the best way for you to get the outcome you want in your next lease. Give our expert team a call in Bathurst, Oberon or Lithgow on 1800 650 656. We’re here to help!

Aaron Strickland and Lauren O’Brien | Business and Property Team

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