The By Lawyers To do list precedent has been updated in the By Lawyers Leases (QLD) Guide to include a section on retail shop lease disclosure requirements of both the lessor and lessee.
At least seven days before a retail shop lease is entered into, a lessee must have been given a disclosure statement and a copy of the lease by the lessor.
If the disclosure statement is not given, is incomplete, or contains information that is materially false or misleading, the lessee may terminate the lease by notice in writing at any time within six months.
The lessor’s disclosure statement includes a lessee’s disclosure statement, allowing the lessee to set out representations made to the lessee. The Act requires the lessee to complete and give to the lessor this statement at least seven days before entering into the lease.
Where a sublessor has requested a head lessor disclosure statement, the lessor must provide it within 28 days.
On renewal of a retail lease the lessor must provide a copy of a current disclosure statement to the lessee within 7 days of receiving a renewal notice.
The new section of the To Do list covers the time limits for retail lease disclosure in relation to:
- new leases;
- sublease; and
- renewal of existing leases.
This enhancement was the result of user feedback. At By Lawyers, we pride ourselves on the cooperative and collegiate relationship we have with the firms using our commentary and precedents daily. We value the feedback that we receive as it helps us to continually improve our publications.