Commercial Property Lease

About Product

A written commercial lease is required where parties, including related parties such as SMSFs, Discretionary Trusts and companies, are leasing property to a third or related party.

► $129.00 (inc GST) - OR provided under your unlimited membership

► The master document has been signed off by LY Legal and is congruent with Australian law.

General Information

The LYD Commercial Lease Agreement is a general lease agreement and covers all the major terms such as lease payments, outgoings to be met by the lessee, term of the lease, three optional extension of leases, dates the options are to expire and even includes a guarantee.

Prepared and provided by LY Legal Pty Ltd it is the best and most forward looking in its class.

Benefits

Comprehensive lease.
Perfect and vital for related party transactions.
Compliant with the superannuation, taxation and real estate laws.
Signed off by LY Legal.
Includes up to three options for the lessee to extend the term of the lease for periods decided by the lessor.
Lessor can seek personal and business guarantee from the lessee.

Frequently Asked Legal Questions

What are annual increases in rent?

Annual increases are measured by CPI for the city or region where the property the subject of the lease resides.

Can the lease term be extended?

The lessor and the lessee can extend the lease as described in the initial document. How many times and for what terms are to be included in the document

Can I use this Commercial Lease for a lease of SMSF business real property to a related discretionary trust?

A written lease is required where a SMSF leases any property to a third or a related party.

What outgoings are included?

Amongst other items the following list of typical outgoings the lessee must pay their fair share includes:

► Rates and other charges levied by any law
► Water, garbage and sewerage rates
► Waste disposal costs
► Land Tax
► Insurance premiums payable by the Landlord
► The cost of cleaning any ‘common areas’ that are used by the Tenant
► Garden and maintenance
► Car Park Levies

How long does this document take to assemble?

Depending on the complexity of the data, this document should take approximately 5-10 secs to assemble. If you experience timing outside of this please contact Support via the Surge app, alternatively please read this article for troubleshooting tips https://info.lightyeardocs.com.au/supportcentre/troubleshooting-longer-assembly-times-timeouts .

Is this document a legal document?

All master documents have been signed off by LY Legal lawyers. Tony Anamourlis of LY Legal advises that “at no time, due to inbuilt legal protection and security measures can a user change or amend a document on the LYD platform that has been signed off by a practicing solicitor. To do so would result in the user drafting a document of a legal nature and engaging in the provision of legal services. In addition, it would be a breach of copyright. In our opinion when completing the form fields through the LYD platform, users and their employees are merely carrying out an administrative task which is not the provision of legal advice.”

However in some complex areas such as the insertion of a varied range of client instructions into a Will or other such documents the user must be mindful of the extent to which a document is being drafted by the user rather than merely the administrative task of completing a form where the relevant fields are inserted into the reviewed and signed legal document provided by LY Legal.

The above advice is born out of numerous cases dating back to Re Sanderson, Ex parte Law Institute of Victoria [1927] VLR 394, 397 where the Court held:

“if a person does a thing usually done by a solicitor, and does it in such a way as to lead to the reasonable inference that he is a solicitor – if he combines professing to be a solicitor with action usually taken by a solicitor – I think he then does act as a solicitor.”

Likewise in ACCC v Murray (2002) 121 FCR 428, 448 where Murray was building a franchise business that involved the legal writing and drafting of Wills from scratch based on the client’s personal circumstances. The Court held that this process was legal work.

Is the document easy to read?

All LYD products are written in plain English and assessed for readability. If at any time you come across any errors, please contact support@lyd.com.au.

What lawyers sign off on the LYD documents?

All LYD documents are prepared and signed off by LY Legal.

Are the LYD documents reviewed regularly?

All LYD documents form part of the LYD internal review process. We review all documents at least annually or when required to do so due to changes in legislation. Further details of this process and a review schedule is include on this website.

Can I get a sample of this document?

Yes, please email support@lyd.com.au to request a sample document for you to review.