Options to Renew in Commercial Leases – Don’t get caught out!
An option clause is a term in a commercial lease that allows a tenant to renew their lease at the end of the original lease period, if they meet certain conditions. Landlords are not obliged to offer a renewal option. However, it is often in the interests of both...
Buying Property with Someone Else – Considerations for Property Co-owners
Buying a property with someone else is a great way to share the stress and cost of the venture. Often people buy a house with their significant other, to make a home or invest together. Others buy property with friends, relatives or business partners. Joining forces...
Due Diligence when Buying an Existing Business
If you are thinking about a new venture, expanding an existing business or entering a new market, one option you might consider is to buy an established business. There are advantages and disadvantages when buying an existing business compared with starting your own....
Considerations Before Entering into a Commercial Lease
Before signing a lease of commercial premises to conduct your business, there a numbers of matters that should be taken into account. After all, a lease represents a serious financial commitment and entering into one without due diligence can lead to undesired and...
Are Lease Heads of Agreement Binding?
It is common practice for a letting agent to prepare a Heads of Agreement ("HOA") to be entered into by a landlord and a prospective tenant before a lease of retail or commercial premises is signed. The document sets out the basic terms of the lease including the...