Business and Commercial Law
Running a small business is becoming increasingly complicated and stressful in what is difficult economic times. We are working with you through the Covid 19 crisis, keeping abreast of legislation as it changes.
Longer hours at work, increasing competition and shrinking margins make life just that little bit harder. It’s a big challenge to work through all the red tape – the Governments, both Federal and State, indicate that red tape is being removed but we have seen no evidence of it.
Leases Retail Shop & Commercial
Five things you need to know about reviewing a commercial lease
- A lease is an important commercial contract, often binding the parties for many years. It is important that you obtain quality legal advice before you enter into a lease to ensure that the lease does not contain unreasonable terms and conditions.
- In reviewing a lease, it is important to consider the rental amount, that any rent-free period or other lease incentive is documented, (the terms/length/period of the lease), whether there are option periods to extend the lease, what the premises can be used for, whether the premises can be sub-leased, how the rent will increase and any requirements on termination.
- Security for the lease in the form of a bank guarantee and, where a limited liability company is a tenant, a personal guarantee will often be required. If personal guarantees are signed then the obligations set out in the lease should be carefully considered by both parties.
- The legal requirements around retail leasing vary from state to state, so it’s important that you work with a lawyer who has experience in this field.
- Take the time to obtain quality legal advice and ensure you understand all the rights and obligations contained in the lease before you enter into any lease.
Don Gayler has been running his own “small business” for some 40 years and is experienced in the commercial ups and downs and pressures associated with running a business. You want someone with a proven track record when it comes to advising you on business law. Don has an ability to get to the point quickly and concisely – just what you need when you are time poor and trying to run a successful business.
Another important aspect of your business is debtor management. Proper control of your debtors can mean the difference between lying awake at night worrying or being confident that your business is achieving positive results and providing a good life for your family.
If someone can’t pay your account, are they worth having as a customer? This is a question that business owners are constantly having to ask. Is the aggravation worth it? Come in and have a talk to Don – he has been dealing with matters exactly like this in his own business – he knows from personal experience what steps need to be taken.