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Two Key steps when negotiating a Tasmanian Property Lease Agreement

If you have a retail property or shop that you wish to rent out in Tasmania, you need to be familiar with the fundemental steps in the retail leasing agreement process. There are certain requirement that must be met in order to comply with the Retail Lease Act

You might be tempted to skip these steps and give the tenant early possession but we caution you to resist that urge for the following reasons.

A tenant obtains certain rights on taking possession, even if a formal Lease has not been signed, and these rights may contradict what you intend in the written agreement.

If you need to complete any fit-out works before the tenant takes possession, make sure you give yourself enough time to complete them before the start date of the Lease.

Follow these TWO steps

As soon as negotiations begin, provide your prospective tenant or lessee with a blank copy of the lease agreement and a copy of the Code of Practise.

Then at least seven days before signing the lease, you must provide a completed copy of the Retail Lease Disclosure Statement.

Retail LEase Timeline for Tasmania