New Retail Shop Lease Laws
Despite what some landlords might bully you into believing, they cant force you to "contract out" of the Retail Shop Leases Act.
Among other things, amendments to the Act will alter the definition of when a when a lease is entered into for clarity and will limit the scope of the act to exclude:
- Retail shops with a floor area greater than 1000 square meters; - Leases where the tenant is an employee or agent of the landlord; and - Leases for a non-retail business purpose located in, or in a building that is part of a retail shopping centre, where less than 25% of the lettable area is used for retail business purposes.
For a quick summary of new laws affecting Retail Shop Leases click here:
Disclaimer This publication is intended as general information only and not specific legal advice. All liability is specifically disclaimed for reliance on same. Seek professional legal advice.
“Liability limited by a scheme approved under professional standards legislation.”