If your tenant will be using the premises to sell or lease goods or sell services directly to an ‘end user’, then it is likely to be a retail lease transaction. The scope for this definition is very wide.
In most instances, determining whether a premises is a retail premises or not will be straightforward. However, at other times the distinction may not be so clear-cut. Here is an example of the range of businesses that are considered retail in Victoria:-
If your premises will be used as a factory, warehouse, wholesale or other business that doesn’t sell or hire goods or sell services directly to the public or ‘end user’, then see our Victorian Commercial Lease Kit, here .
Still not sure? See, Do I need a commercial or retail lease in Victoria ? for more information.
A disclosure statement must be given to a proposed tenant at least seven (7) days before a lease is entered into. In addition, a proposed tenant must be given a copy of the draft form of the lease and a copy of the information brochure at the negotiation stage.
This Kit contains the relevant disclosure statement for Victoria and links to the information brochure required to be given to the tenant.
A retail lease in Victoria must be for a term of at least five (5) years (including options).
A lease entered into with a term of less than five years, it will automatically be bumped up to five years, unless the tenant has received certification from the Small Business Commissioner for a shorter term.
Yes, the Act requires all retail leases in Victoria to be in writing and signed (s 16 of the Act).
Having a written lease in place that covers all of the variables and complies with the law is essential. It provides the parties with a clear foundation for understanding their obligations and prevents the types of disputes that can occur with verbal agreements.
The lease agreement in this Kit covers essential issues such as:
Your Lease Kit includes all of the essentials for preparing your own Retail Lease Agreement in Victoria, simply and cost effectively.