Description
This is a 2.5 point session aimed at non-commercial people who want to know more about commercial real estate.
The session is about understanding a commercial lease as opposed to a retail lease and ensuring participants understand that the Act only applies to retail leases.
The session addresses the covenants and clauses in the REIWA Offer to Lease – Commercial & Industrial, stepping through each of the sections in the lease with explanation including:
- Lessee
- Area
- Rent
- Options
- Outgoings
- Insurances
- Use of premises
- plus the balance of headings in the document
The session also looks at
- termination due to default.
- Security deposits and PPSA
- Bank Guarantees
- Personal Guarantees
- GST
- Use of lawyers
