Under Section 28 of the RLA, landlords are legally obliged to provide written notice to their tenants regarding their entitlement to renew the lease (Notice). This Notice must be provided to the tenant within a specific timeframe, which is generally not less than three months and not more than six months prior to the expiration […]
Tag Archives | retail lease
Retail Leases Act – Notice of Renewal
It is important to be aware of when a retail lease without further option to renew is set to end. For retail leases without an option to renew, landlords are required to provide at least 6 months (but no more than 12 months) written notice before the lease term ends. This notice must stipulate whether the […]
Changes to Retail Tenancy Laws
Disclosure statements and market rent reviews for further terms (lease renewals) From 1 October 2020 retail leasing has changed due to amendments to the Retail Leases Act 2003 (Vic) (“the Act”). Changes to notice and disclosure obligations in relation to further lease terms (renewals) Where a lease contains an option for a further term, s.28 of […]