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Lease

 

Whether you are a landlord or a tenant, we can assist you in:
 

  • preparing, reviewing, negotiating and signing your lease (commercial or retail);

  • understanding and complying with any specific legislative requirements under the retail leases legislation;  and

  • understanding your rights and obligations under your lease.

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Other landlord/tenant documents

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We can also assist you in preparing, reviewing, negotiating and signing other landlord and tenant related documents, including:
 

  • an ​agreement for lease;

  • a disclosure statement (for a retail lease);

  • a transfer/assignment of a lease;

  • a variation of a lease;

  • a sublease; or

  • a surrender of a lease.
     

Legal costs 

Our legal costs - standard commercial or retail leases

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We charge fixed professional fees for standard commercial or retail leases (using the standard NSW Law Society form of lease).

Landlord:

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Below is an estimate of our legal costs for a standard commercial or retail lease:

Landlord - standard commercial or retail lease

Costs
(excl. GST)

1. Fixed professional fee*

$1,300

2. Property searches (estimated)

$400

Total costs (estimated)

$1,700

*Our above fixed professional fee generally includes:

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  • obtaining full instructions;

  • reviewing the title;

  • assessing the legal issues on the proposed lease;

  • advising you on the steps and your obligations as a landlord;

  • preparing and advising you on the lease and any other required documents (e.g. retail lease disclosure statement);

  • submitting the lease to the tenant's representative with your requirements;

  • dealing with any questions raised by the tenant's representative and negotiating any requested amendments to the lease;

  • arranging for the lease to be signed by the tenant and by you;

  • arranging your mortgagee's consent (if applicable); and

  • arranging for the lease to be registered (if required) and for a copy of the registered lease to be provided to both parties.

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Please note that, if additional work is required (beyond the standard scope of work above),  we may have to charge an additional professional fee for this additional work; however, if we anticipate having to charge you an additional professional fee, we will let you know as soon as possible during the course of the transaction. 

Tenant:

 

Below is an estimate of our legal costs for a standard commercial or retail lease:

Tenant - standard commercial or retail lease

Costs
(excl. GST)

1. Fixed professional fee*

$1,500

2. Property searches (estimated)

$300

Total costs (estimated)

$1,800


*Our above fixed professional fee generally includes:

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  • reviewing the lease and the title;

  • assessing the legal issues on the proposed lease; 

  • advising you on the main terms of the lease and how best to protect your interests;

  • advising regarding any duty payable;

  • negotiating any amendments to the lease requested by you;

  • arranging for the lease to be signed by you and returned to the landlord's representative;

  • obtaining a copy of the lease signed by the landlord with the mortgagee's consent (if applicable) and, if the lease has to be registered, a copy of the registered lease; and

  • sending a copy of the signed/registered lease to you with a reminder of dates for exercising any options to renew. 

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Please note that, if additional work is required (beyond the standard scope of work above),  we may have to charge an additional professional fee for this additional work; however, if we anticipate having to charge you an additional professional fee, we will let you know as soon as possible during the course of the transaction. 

Our legal costs - leasing and related matters 

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1. Professional fee
 

Our professional fees are competitive and affordable. They vary according to:

 

  • the nature of the property;

  • the transaction type;

  • the complexity of the legal issues; and

  • your requirements and expectations. 

 

At the beginning of a transaction, we provide you with an estimate of our professional fee. If circumstances change during the course of a transaction requiring us to revise our estimate, we provide you with a revised estimate as soon as possible. 
 

2. Property searches, ELNO fees, registration fees and mortgagee consent costs


In addition to our professional fee, you may also have to pay for:

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  • certain searches that we carry out on your behalf in relation to the property or the other parties ("property searches"), e.g. title searches, company searches, etc. We obtain these property searches from external information providers and incur the cost on your behalf. The cost of property searches varies, depending on the nature of the property and the transaction; 

  • the fee charged by an external service provider to verify your identity remotely;

  • the fee charged by the electronic lodgment network operator (ELNO) to complete and lodge the lease (or lease related document) electronically at NSW LRS (usually payable by both parties);

  • the fee charged by NSW LRS for registering the lease or lease related document  (usually payable by the tenant); and

  • the cost of any mortgagee providing its consent (usually payable by the landlord).  

 

The above costs can vary; however, we estimate these costs to be in the region of:


Landlord: $350 - $400 plus GST

Tenant: $250 - $300 plus GST

Exclusions

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If we act for you on the sale of a property, we do not:

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  • negotiate or advise on commercial terms;

  • advise on development consents or development potential;

  • review or advise on any building, pest, environmental, strata or other such property reports; or

  • provide any financial or taxation advice.

  

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Legal costs agreement
 

All of the above legal costs will be set out in the costs disclosure and costs agreement that you will be required to sign at the beginning of the transaction.

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