This standard in all states?
- Thread starter Encarta
- Start date
It depends upon the type of property which you are referring to, the quality of the tenant and what you can negotiate.
By that I mean, if it is a retail premises, then it is covered by the retail leases act in each state. In the case of retail, each party bears its own costs in relation to the preparation and negotiation of the lease.
As for general commercial premises (ie offices/warehouses/service stations/bulky goods etc), outgoings are whatever is negotiated. That is, it can include or exclude any of the following (not an exhaustive list):
By that I mean, if it is a retail premises, then it is covered by the retail leases act in each state. In the case of retail, each party bears its own costs in relation to the preparation and negotiation of the lease.
As for general commercial premises (ie offices/warehouses/service stations/bulky goods etc), outgoings are whatever is negotiated. That is, it can include or exclude any of the following (not an exhaustive list):
- Land Tax
- Council Rates (or rates over a base year)
- Water services (service charges + usage)
- Building Maintenance
- Property Management
- Building Insurance
- Plate Glass & Public Liability Insurance
- Strata Levies (but not sinking fund/capital works)
- Centre Management Costs
- Landscaping Maintenance
- Annual Fire Safety Compliance Certificate
- Hoist registration
- Testing of roof safety systems/roof anchors/access systems
- Air-conditioning servicing/maintenance
- Sprinkler system maintenance
- Lift/escalator maintenance
Commercial property lease terms essentially are what both the lessee and the lessor agree upon in all states.
Scott has given you a good list to work from.
Scott has given you a good list to work from.
No problems. If you have a specific question feel free to PM me.
