The Commercial Property Tenancy Agreement is essential for formalizing commercial property leases in Australia. It is used when a property owner (lessor) agrees to rent a commercial space to a business tenant (lessee) for non-residential purposes. This comprehensive document covers crucial aspects including financial terms, maintenance obligations, insurance requirements, and compliance with Australian federal and state laws. It differs from residential and retail leases in its complexity and commercial focus, often incorporating specific provisions for business use, fit-out requirements, and operating conditions. The agreement must comply with relevant state-specific commercial property legislation while protecting both parties' interests throughout the lease term.
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1. Parties: Identification of the landlord/lessor and tenant/lessee with full legal names and ACN/ABN
2. Background: Context of the agreement and brief description of the premises
3. Definitions and Interpretation: Detailed definitions of terms used throughout the agreement and rules for interpretation
4. Grant of Lease: Core terms of the lease including premises description, term, and permitted use
5. Rent and Other Payments: Rent amount, payment terms, outgoings, and other financial obligations
6. Rent Review: Mechanisms and timing for rent reviews during the lease term
7. Security Deposit/Bank Guarantee: Details of security required and conditions for its use/return
8. Outgoings and Operating Expenses: Specification of additional costs and how they are calculated/apportioned
9. Maintenance and Repairs: Responsibilities for maintaining and repairing different aspects of the premises
10. Insurance: Required insurance coverage for both parties
11. Use of Premises: Permitted use and restrictions on use of the premises
12. Compliance with Laws: Obligations to comply with relevant laws and regulations
13. Assignment and Subletting: Conditions under which the tenant may assign or sublet the premises
14. Landlord's Covenants: Obligations and promises of the landlord
15. Tenant's Covenants: Obligations and promises of the tenant
16. Default and Termination: Events of default and consequences, termination procedures
17. Dispute Resolution: Process for resolving disputes between parties
18. Notices: How formal notices must be given between parties
19. General Provisions: Miscellaneous legal provisions including governing law, severability, and entire agreement
1. Option to Renew: Terms for lease renewal - include when the parties agree to potential extension periods
2. Make Good Obligations: Specific requirements for premises restoration - include when premises have special fixtures or modifications
3. Building Management: Rules regarding building management - include for multi-tenanted buildings
4. Signage Rights: Terms for external and internal signage - include when signage is a significant consideration
5. Car Parking: Allocation and management of parking spaces - include when parking is available
6. Services and Utilities: Special provisions for services - include when utilities are separately metered or managed
7. Environmental Obligations: Specific environmental requirements - include for properties with environmental sensitivities
8. Trading Hours: Restrictions on operating hours - include for retail or managed business premises
9. Common Areas: Rights and obligations regarding shared spaces - include for multi-tenanted properties
10. COVID-19 Provisions: Special terms relating to pandemic situations - include based on current requirements
1. Schedule 1 - Premises Details: Detailed description of premises including floor plans and area calculations
2. Schedule 2 - Rent and Payment Details: Comprehensive breakdown of rent, payment dates, and review mechanisms
3. Schedule 3 - Outgoings: Detailed list of outgoings and calculation methods
4. Schedule 4 - Building Rules: Specific rules and regulations for the building
5. Schedule 5 - Condition Report: Detailed report on premises condition at commencement
6. Schedule 6 - Fit-out Specifications: Details of any agreed fit-out works and specifications
7. Schedule 7 - Essential Safety Measures: List of safety measures and maintenance requirements
8. Appendix A - Plan of Premises: Detailed floor plans and site maps
9. Appendix B - Guarantor Provisions: Terms of any personal or corporate guarantees
10. Appendix C - Special Conditions: Any additional terms specific to this tenancy
Relevant legal definitions
Clauses
Relevant Industries
Commercial Real Estate
Retail
Professional Services
Healthcare
Manufacturing
Warehousing and Logistics
Technology
Financial Services
Hospitality
Education
Corporate Services
Entertainment and Media
Industrial
Relevant Teams
Legal
Operations
Finance
Facilities Management
Risk and Compliance
Real Estate
Property Management
Corporate Services
Administration
Business Development
Asset Management
Relevant Roles
Property Manager
Real Estate Agent
Legal Counsel
Commercial Lawyer
Facilities Manager
Operations Manager
Chief Financial Officer
Business Development Manager
Contract Administrator
Risk Manager
Compliance Officer
Asset Manager
Property Portfolio Manager
Leasing Executive
Commercial Director
Company Secretary
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