Entering into the lease The legislation causes more problems than it solves

Entering into the lease
The legislation causes more problems than it solves

I have been working with a client recently on the legislated voodoo around when a lease is “entered into”. In the normal course, a lease transaction will follow an industry-standard process. A shop will be identified by the tenant as suitable. A negotiation will ensue, and oral, in-principle agreement reached on the headline issues. Pausing here, that oral agreement will satisfy the definition of a “retail shop lease” in section 3 of the NSW Retail Leases Act. This provision defines a retail shop lease as (in summary): “any agreement under which a person…Read more