So many landlords today in Brisbane and in Queensland negotiate a lease agreement with a tenant and do not think deeply about the elements of any lease to be created. They just leave the lease to their property solicitor to formulate.
Certainly solicitors know what to do in creating a lease, it’s just that they do not always know much about the property in question. More often than not, the solicitors working on the lease documentation will have not seen the property at all. That then leaves the opportunity wide open for a lease document to be prepared that does not specifically match the uniqueness of the property.
Retail Properties are Different
When leasing office or industrial property the terms of a lease can be fairly standard, but when it comes to retail property the lease should be specially structured for the investment plans of the landlord and the function of the property.
Retail property is very much a vibrant and active type of investment. Things can happen at any time involving tenants, landlord, or customers. That is where a good property solicitor will review the lease, match it to the needs of the property, and then balance that with the investment plans of the landlord. Proof of this fact is that most large properties will have a special lease formulated by the solicitor acting on behalf of the landlord.