Does the retail Leases Act apply Victoria?

Does the retail Leases Act apply Victoria?

The RLA covers retail leases in Victoria. Under section 4, a retail lease includes any lease where the premises are “used, or are to be used, wholly or predominantly for the sale or hire of goods by retail or the retail provision of services”.

What are the terms of a commercial lease?

A typical commercial lease is a “5 and 5”, meaning a 5 year lease, with an option to renew for another 5 years. Options usually must be exercised by writing a letter to the landlord some months before the initial lease term expires, expressly exercising the option.

What is the exclusivity clause in a retail lease?

An exclusive use clause, or “exclusive,” reflects the agreement of the landlord to allow any other tenants within the shopping center to use their respective premises for a specific use, whether selling certain products or providing certain services.

What are the essential terms of a lease?

For example, a lease agreement would include essential terms covering:

  • the payment of rent to the landlord;
  • the names of the parties to the lease; and.
  • a description of the premises which the lease is subject to.

What is the aim of the retail tenancies legislation?

An Act to make provision with respect to the leasing of certain retail shops and the rights and obligations of lessors and lessees of those shops, and for other purposes.

What does Attornment mean in a lease?

Let’s review some of the most common situations that can arise. What is attornment? You are the owner of an immovable property and you negotiate a lease with a tenant who requests the removal of the attornment clause.

What is a use clause in a commercial lease?

A use clause can be either a restriction on how you do business—telling you what you can’t do—or a prescription, telling you what you must do. In general, you’ll want to avoid strict restrictions on your use of the rented space, so count yourself lucky if the landlord’s lease doesn’t include a use clause.

When do retail leases need to be heard by VCAT?

All Retail Tenancies dispute must first receive a certificate from the SBC that mediation was conducted before VCAT will hear the matter. SBC mediations are generally held about 8-10 weeks after the dispute. Of all the matters heard at the SBC, around 85% have been disputes referred under the Retail Leases Act.

How is commencement of proceeding regulated by the VCAT?

Commencement of proceeding is regulated by the Retail Tenancies Act and sections 67-72 of the VCAT Act: Similar to Domestic Building, the Retail Tenancies List use an online application form. The Retail Tenancies List commonly runs in a very formal manner, with counsel attending and presenting the case as they would to a Court.

What do you need to know about the VCAT?

VCAT hears and decides cases about retail tenancies and commercial leasing disputes. The steps you must take to apply vary depending on the type of application you are making.

What does the Retail Leases Act 2003 do?

Retail Leases Act 2003 is the mechanisms available to resolve disputes concerning leases of retail premises and promote greater certainty, fairness and clarity in the commercial relationship between landlords and tenants of retail premises.

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