A thorough examination of the lease is the best way to future proof against any costly surprises that may eventuate.

When signing a lease as a tenant or property owner, ensure you read the agreement properly, and if needed, seek legal/financial/other advice to confirm.

Ray White Commercial Toowoomba has compiled a list of some of the key points to look out for:

Land Tax

Does the tenant pay? Not if it is a Retail Lease! In a Commercial Lease - They may have to pay all or part of the Land Tax, depending on the make up of the property 

Maintenance of a property

Does the Tenant pay for all repair, servicing and replacement of property equipment? Might be expensive if an A/C has to be replaced outside of warranty.

Is the rent Gross or Net?

Does the rent include or exclude outgoings? What proportion of outgoings are you responsible for?

Insurance

Does a tenant need their own? Do they have to pay for the Owner's building insurance?

These are but a few of the "minefields" that a tenant/owner may fail to see and therefore become a very costly mistake.
 
Ray White Commercial Toowoomba can assist with the above when helping to negotiate a lease between a tenant and owner.

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