Friday, 10 October 2014

Rules for Leasing Commercial Property in Perth

If you own commercial property in Perth that you wish to lease to someone else, it’s important that you be aware of the ground rules set by the local government. Although your commercial property manager can walk you through every step of the process, it still pays for you to have a grasp of how it works.
One thing you need to remember is that leasing your property is essentially similar to a legally binding contract. Therefore, it’s your responsibility to inform the other party or the lessees about their responsibilities and rights before they sign the lease agreement. This information typically comes in the form of a Tenant Guide that you must give to the other party before a deal is struck. 
In fact, the Commercial Tenancy (Retail Shops) Agreements Act 1985 makes this a requirement for the leasing of retail shops, drycleaners, hairdressers, and other commercial establishments in Western Australia. However, some of its provisions may not apply to lease agreements that were entered prior to 1 July, 1999; which is something that your property manager should inform you about.
The Act also requires that your lease agreement should have a detailed protocol for resolving disputes between you and the lessees. In most cases, retail tenancy disputes can be resolved with the Small Business Commissioner, but they can also involve the State Administrative Tribunal if deemed necessary.

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