Retail & Commercial Leasing Basics
Issues covered include: retail leases, commercial leases, Heads of Agreement, finalising the lease, tax
Description
Whether broadening your practice, training junior lawyers to be more efficient & effective, or upskilling, this program will provide the essential strategies & skills you need. Examine the Retail Leases Act, repair & maintenance, disputes, breaches, forfeiture, heads of agreement, tax & more. Master the leasing process from beginning to end with step by step guides, checklists, and detailed explanations.
Attend and earn 4 CPD units including:
3 units in Substantive Law
1 unit in Professional Skills
This program is based on VIC legislation
Chair: Shanna Livingstone, Special Counsel, Gadens
9.00am to 10.00am: Retail Leases vs Commercial Leases: Key Differences
- Overview of the relevance and impact of a lease being a ‘retail lease’
- Why does it matter?
- When does the Retail Leases Act apply? General rules & exceptions
- What is a ‘retail premises’?
- How are disputes handled under the RLA and how are conflicts between lease provisions and the RLA resolved?
- Mandatory provisions and common conflicts under the RLA
- Repair and maintenance
- Prohibition on recovery of land tax
- Breach and relief against forfeiture
- Renewal
- Costs
- CB Cold Storage and more recent interpretations of what constitutes a retail lease
Presented by Elizabeth Ruddle, Barrister, Foley’s List
10.00am to 11.00am: Heads of Agreement (HOA) for Leases: A Drafting Workshop
Work through an example Lease Proposal with a practical, step by step guide to the following key pre-lease issues:
- Basic principles and key considerations for HOA
- When to use HOA
- When are HOA binding or non-binding?
- Reviewing HOA for the tenant: key tips and traps
- Adding value for the tenant
- The importance of including landlord obligations
- Common landlord obligations and warranties to include
- Due diligence considerations
Presented by Michael Westaway, Partner, HWL Ebsworth Lawyers; Best Lawyers 2019, Real Property Law; Recommended Leasing Lawyer, Doyle’s Guide 2019
11.00am to 11.15am: Break
Professional Skills
11.15am to 12.15pm: Finalising the Lease: a Checklist from Execution to Completion
Work step by step through the leasing process from the execution of a lease to completion. Mistakes in this critical leasing process can lead to severe consequences, so take this opportunity to learn how to get the details right.
- Checklist for steps to be taken once the Lease is signed
- Obtaining consent of the mortgagee: why this is necessary
- Obtaining the landlord’s signature: how a lease should be properly executed and what steps you should take to protect your client
- The registration process
- Does the Lease have to be registered & why would you want to register?
- How to satisfy the Registrar’s requirements
- Removing the old lease from the title
- Who pays for what?
- Tips for avoiding requisitions & ensuring the Lease is properly executed
Presented by Peter Mitchell, Partner; Best Lawyers 2019, Real Property Law; Recommended Leasing Lawyer and Property & Real Estate Lawyer, Doyle’s Guide 2019, Elena Komis, Senior Associate and Forest Lukwago, Senior Associate, MinterEllison
12.15pm to 1.15pm: Tax Basics in Leasing
- Spotting the issues: a checklist of when and how GST applies in the leasing context
- What if the vendor isn’t registered for GST?
- Going concern considerations & margin scheme considerations
- What are they?
- What do you need to know about them?
- How does GST impact the lease or sale of mixed use premises?
- How to respond to client questions: from the common to the more difficult queries
Presented by Ross Higgins, Partner, Mills Oakley