Can lawyers and accountants use www.commercialpropertyleases.com.au?
How important is it to conduct title searches, company and business name searches?
In addition either the landlord or the tenant may be a company under external administration such as receivership or liquidation and accordingly the person providing instructions is not entitled to do so. Sometimes the business name provided by the tenant does not exist and therefore should the landlord wish to commence recovery proceedings against the tenant, it has no one to pursue. These are just a few examples of errors which could be eliminated with correct searches and the ability to understand them.
How important is the guarantee and indemnity attached to the lease?
How important is a security deposit?
As long as a security deposit is dealt with in accordance with provisions of the legislation, the funds or bank guarantee can be applied towards the reduction or elimination of the significant amount outstanding. If a bank guarantee is provided it should have no expiry date so it lasts if the Tenant remains beyond the term or options periods in the lease.
If a tenant leaves the premises during the term of the lease or any renewal, does their obligation to pay rent and outgoings end on the day they leave?
If the tenant leaves the premises before this time then it will be responsible for the payment of rent and outgoings until a substitute tenant is found by the landlord and that tenant commences to pay rent and outgoings. In the event that a tenant vacates under these circumstances, the landlord has an obligation to mitigate its loss and this means that they must do everything possible to locate another suitable tenant as quickly as possible, if the tenant does not offer a suitable replacement.
Is a condition report helpful?
We believe however that dated photographs are a better tool in preventing these disputes as these will show such things as the positioning of office partitioning, the existence of any inbuilt shelving, wall units and desks etc. and the general quality and appearance of the carpet, painted walls and landlords fixtures and fittings when the lease commenced.