Retail leases act amendments

What is the proposed retail lease amendment bill? The Act significantly amends the existing legislation governing retail shop leases and commercial tenancies in South Australia. For both landlords and tenants, understanding how the Act affects your compliance obligations is vital.

Proposed objectives of the Bill. Retail Leases Amendment Bill Introduction. Landlords must return security deposits within days.

Passing on costs for essential safety measures. No Minimum Term – There is no longer a minimum year term for a retail lease. We have prepared a short summary of each key amendment to provide you with a quick overview.

For the avoidance of doubt, the amendments do not extend to a matter for which proceedings have commenced in a court. The RLARA introduced substantial changes to the RLA however, for the purposes of this article, only the amendment to “outgoings” will be dealt with. Changes will support small retail business growth and sustainability now and into the future.

Any regulations made pursuant to these amendments must be reasonable to protect the health, safety and welfare of persons and will expire after six months, or an earlier date as determined by Parliament. Similar legislation is currently being considered in.

The July Amendments clarify this, providing that if the rent payable under a lease exceeds the rental threshol and the lease is lodged for registration within months after execution, that lease will be considered to fall outside the ambit of the Act. That is the case even if subsequent increases to the rent threshold (or changes to the rental amount) result in the rent being less than the. The Act has built on existing protections for tenants and removed ambiguities in the legislation, rather than implementing extensive reform. If the current Bill is passed unamended following the State Election, the changes could have a lasting impact on retail shop leasing in Queensland. The amendments will apply to all new leases entered into after this date.

It ensures that landlords must disclose all costs in some detail before the. The leasing of retail premises is governed and affected by numerous legislative and regulatory requirements. View the summary here.

The Minister for Small Business, the Honorable Martin Hamilton-Smith, has claimed that the Bill is designed to support the small business sector, and that under the proposed amendments to the Act , retail and business tenants receive improved. This is defined in the amendments as an assemblage of stalls, styled or described as a market that are predominately used for retail businesses operating in a building or other. Following the implementation of these amendments , it’s important to understand what has changed and how it affects both landlords and tenants.

There are vital changes to be aware of: 1. The Act prescribes what to do when starting a lease , changing the rent, transferring a lease and resolving disputes. The aim of the amended legislation is to create stronger and fairer relationships between tenants and landlords, through increased transparency and additional statutory protections. The key objectives of the bill were to streamline the RSLA and cut red tape, but still safeguard the interests of retail lessees.

Set out below are some key issues for landlords. In this article, Elizabeth McDonald of our property and planning team considers the recent changes to the Act and the impact on landlords and tenants.

The changes will enable businesses to move quickly as they develop and expan remove confusion around legal obligations and lease terms and conditions, and enhance building safety. This will mean important changes to retail leasing practice. The Bill introduces amendments to the Act that will mean that a registered lease which, at the time of registration, falls outside of the rental threshold (currently $40000pa) will remain outside of the application of the Act regardless of any changes to the rent or increase to the rental threshold which would otherwise bring the lease within the scope of the Act.

These amendments will ensure the Act increases transparency and certainty in the New South Wales retail leasing sector.