Time to defenestrate the five year term

Time to defenestrate the five year term

In 2013 the Small Business Commissioner of New South Wales published a Review of the Retail Leases Act. One of the important issues flagged in the Review questions whether the minimum five year term is still required. The question is important because the minimum five year term sucks a lot of oxygen out of the management greenhouse. I am not sure what informed the decision to legislate for a minimum five year term in the first place, but the thinking seems to have been that tenants sometimes make a significant investment in fit…Read more