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Leasing Practice Manual NSW

Leasing Practice Manual NSWLeasing Practice Manual NSW

This Practice Manual contains the Leasing Practice Manual NSW. It is designed for lawyers in New South Wales to enable them to run commercial leasing files. It includes commentary which outlines the practice and procedure, and documents you can download and use.

CONTENTS

Recent Updates

  1. Leasing in NSW
  2. Leases under the Real Property Act 1900
  3. Retail Leases Act 1994
  4. Acting for the Lessor
  5.  Acting for the Lessee
  6. Options
  7. Transfer of Lease
  8. Miscellaneous Leasing Issues
  9. Residential Leases
  10. Precedents

This Leasing Practice Manual is a Practice Manual to Leasing in NSW which is kept up to date and has been peer reviewed. The commentary explains the law of leases and the practice of creating leases. It includes precedents and checklists.

The commentary covers the legislative framework for leasing in NSW.  For ease of use the guide is divided into intuitive sections which are easy to navigate. For instance, there are sections dedicated to leases governed by the Retail Leases Act 1994 (NSW), the Real Property Act 1900 and residential leases. There is a chapter devoted to acting for the Lessor and a chapter devoted to acting for the Lessee. The commentary is practical and easy to use. It contains hyperlinks to relevant legislation and case law, and quality precedents and checklists.

The explains the process of creating a lease from beginning to end, and contains high quality lease precedents. It also covers associated matters such as agreements to lease, subleases, variations, options, assignments and transfers. For the more experienced practitioner the guide is an invaluable tool to increasing speed and quality. As a time saving feature, the last section  contains a list of precedents grouped under headings in an easy to find format. If you are already familiar with the procedure and simply want to find a precedent, this section takes you straight to where you want to go.

Chapter 1.

Gives you an overview of the law relating to Leases in NSW. There is a list of relevant legislation, and hyperlinks to the text of the legislation itself. Different legislation applies to commercial and residential leasing in NSW.

Chapter 2

explains the law as it relates to all commercial leases in NSW. Some, but not all commercial leases fall under particular legislation. This legislation imposes special procedures and rights on each of the parties to the lease transaction.

Chapter 3 explains how to tell the difference between a lease that falls under this Act and what to do differently when it does.

Chapter 4

tells you what to do when you are acting for the Lessor. It explains the procedure of drafting and entering into a commercial lease from the Lessor’s perspective.

Chapter 5

explains the procedure from a Lessee’s point of view. It explains the common pitfalls for lessees and gives direction on the important aspects on which to advise your client.

The option to renew a lease is critically important to both parties. The lessee wants to know that they have a solid right to occupy the premises for a further term. The lessor wants reasonable flexibility to increase the rent so that they are not disadvantaged by the lessee wanting to remain in occupation for another term. In some cases the lessor may grant the lessee an option to buy.

Chapter 6

covers both types of options and includes useful precedents and checklists in printable form.

Lessees frequently wish to transfer or ‘assign’ a lease. This commonly occurs when the lessee sells their business. Transfers of lease can become complex. They include not only the Lessor and Lessee but the Transferee, the Lessor’s mortgagee, and the Transferee’s guarantor.

Chapter 7 c

overs all these aspects of a Transfer of lease and also the procedures for containing consent of mortgagees and other relevant parties to the Transfer. Precedents and checklists are included.

Chapter 8

covers pre-lease agreements and includes an Agreement for Lease (an agreement to grant a lease at a certain time in the future) and checklists. Also covered are Lessors Incentives to Lease. There are several ways to offer these incentives, some of which may harm the interest of the lessor. This chapter explains how to grant incentives whilst not diminishing the market value of the property and keeping incentives confidential between lessor and lessee. Precedents are provided. Also covered in this chapter:

  • Incentives
  • Car parking (including car parking licence)
  • Fringe Benefits Tax issues
  • Sale of Business issues
  • Subleases
  • Long leases (>40 years)
  • Variation of Lease
  • Mortgages and charges over leases
  • Lease Disputes
  • Administrative Decisions Tribunal
  • Consumer Trader and Tenancy Tribunal
  • Non payment of Rent
  • Lockouts

Chapter 9 covers

Residential Leases. The Laws governing Residential Leasing changed extensively in 2011 . New rules apply to:

  • Holding fees;
  • Disclosure obligations;
  • Costs of preparing lease;
  • Bond;
  • Rent payments and receipts;
  • Water usage;
  • Subletting;
  • Sale of rented premises; and
  • Termination.

Chapter 9 explains the new laws and provides all the necessary documents including the new Standard Form Lease, tenant checklist, notices, and bond lodgement forms.

Precedents – Leasing Practice Manual NSW

The following precedents are included in the Leasing Practice Manual NSW.

  • Agreement for Lease
  • Bank Guarantee Requirements
  • Car Parking Licence
  • Caveatable interest for option to purchase
  • Checklist for Assignees Solicitor
  • Checklist for Assignors Solicitor
  • Checklist-Lockouts
  • Checklist-when acting for a Lessee
  • Checklist-when acting for a Lessor
  • Consent to Sublease Deed
  • Deed of assignment of lease
  • Dept Lands signing provisions
  • Incentive Deed
  • Lease
  • Lease-Retail Lease
  • Lender’s Deed of Consent to Lease
  • Letter advising Landlord rent arrears
  • Letter to Lessees Lawyer encl Lease
  • Letter-advising on Lease
  • Letter-requesting Bank Guarantee
  • Letter-requesting particulars of Assignee
  • Letter-to Lessee encl final Lease
  • Mortgagee Consent Deed
  • Notice to Lessee of Breach
  • Notice-of Lockout
  • Notice-Request to determine Current Market Rent
  • Option to purchase clause
  • Sublease

[You may also like:-

Updated Sale of Business Contract now Available

Leasing Agreement Contracts

Retail Leases Act 1994

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