17 min
Retail Leasing Act - changes in legislation from 1 July 2017 Meyer Vandenberg MV Talks
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- Business
Amendments to the Retail Leases Act 1994 (NSW), will commence on 1 July 2017. Our leasing team run through the pertinent changes including:
• removal of the minimum 5 year term
• amendments to the definition of retail shop
• expansion of the NSW Civil and Administrative Tribunal’s jurisdiction
• amendments to the provisions regarding outgoings and disclosure statements
• introduction of a timeframe for the return of bank guarantees and
• amendments to the provisions regarding rent based on turnover sales.
Be sure you understand the changes and are ready for the 1 July 2017 start date. For assistance with leases call Meyer Vandenberg on (02) 6279 4444 or email Rebecca.Pritzler@MVLawyers.com.au
Amendments to the Retail Leases Act 1994 (NSW), will commence on 1 July 2017. Our leasing team run through the pertinent changes including:
• removal of the minimum 5 year term
• amendments to the definition of retail shop
• expansion of the NSW Civil and Administrative Tribunal’s jurisdiction
• amendments to the provisions regarding outgoings and disclosure statements
• introduction of a timeframe for the return of bank guarantees and
• amendments to the provisions regarding rent based on turnover sales.
Be sure you understand the changes and are ready for the 1 July 2017 start date. For assistance with leases call Meyer Vandenberg on (02) 6279 4444 or email Rebecca.Pritzler@MVLawyers.com.au
17 min