Leasing Property

Leasing Property

A practical guide to Commercial and Residential Leasing in New South Wales.

Leasing

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This book is a guide to Leasing real estate in New South Wales, Australia. It covers both commercial and residential leasing and is intended as a practical guide for lawyers practising in this area. This book covers the legal framework for leasing in NSW. There are chapters 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 author is a practising lawyer and an expert in this field. The book has been written as a guide for lawyers practising in this field. This book is based on the Leasing Practice Manual NSW by the same author. The structure is the same as the Leasing Practice Manual NSW but the content has been adapted to suit the electronic publishing format.
This book explains the process of creating a lease from beginning to end. It also covers associated matters such as agreements to lease, subleases, variations, options, assignments and transfers.

Chapter 1 provides an overview. Chapter 2 explains the law as it relates to all leases in NSW. Some, but not all commercial leases in NSW fall under the Retail Leases Act 1994. This Act 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. In some cases the lessor may grant the lessee an option to buy. Chapter 6 covers both types of options.
Lessees frequently wish to transfer or ‘assign’ a lease. Chapter 7 covers all the aspects of a Transfer of lease and also procedures for containing consent of mortgagees and other relevant parties to the Transfer. Chapter 8 covers pre-lease agreements and Incentives to Lease. This chapter explains how to grant incentives whilst not diminishing the market value of the property and keeping incentives confidential between lessor and lessee. Also covered in this chapter: 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.
The Laws governing Residential Leasing changed extensively with The Residential Tenancies Act 2010 and the Residential Tenancies Regulation 2010 which both commenced on 31 January 2011. Chapter 9 explains the new laws including the new Standard Form Lease, notices, and bond lodgement forms.

For the more experienced practitioner the Leasing Practice Manual NSW is an invaluable tool to increasing speed and quality. The best-selling Leasing Practice Manual NSW is an online practice guide for solicitors in NSW which is kept up to date and has been peer reviewed. Originally published in 2010 the Leasing Practice Manual NSW contains commentary that explains the law of leases and the practice of creating leases. The online practice guide differs from this book in that it includes precedents, checklists and other documents that can be downloaded and used. It also contains hyperlinks to relevant legislation and case law. Links to the Leasing Practice Manual NSW and other publications by Eric Kalde are located at the end of the book.