The world is constantly evolving. But does your commercial lease evolve with it?
Many parts of the world are opting for solar energy which has become a legitimate income opportunity for landlords. Does your lease include provisions about the sale of energy, the rate the tenant must pay, the relevant tariff that applies and the installation of batteries in the future? Are you thinking about something similar for other utilities?
The postal service is becoming less reliable, process servers are expensive and faxes have become obsolete. Does your lease allow service by email? Does it include an obligation for the tenant to maintain the email and email server to allow for service of notices at all times? Does the lease remove any requirement for a signature?
Leasing lawyers often prepare a template document and use that repeatedly for years – or longer – without ever updating it. Over time, the document becomes out of date.
We still see leases prepared in old English using phrases like “shall” and containing large paragraphs of unbroken text separated by “provided always that”. When was the last time your lawyer updated their lease?
If you require a lease that keeps up with the times, contact us on 0408 954 570 or at firstname.lastname@example.org.
Keep an eye out for further articles. Please note that this article does not contain legal advice. Please obtain independent legal advice to address your specific situation.