When we draft retail leases for lessors looking to lease their retail store, the lease documents are usually drafted in favour of the lessor and we will focus on trying to secure your rent payments through personal guarantees in the event there is a dispute or rent has not been paid.
Our experienced leasing team has advised and negotiated for retailors looking to lease retail premises. This includes reviewing and suggesting changes to a lease document prepared by a lessor’s lawyer to make the lease fairer and more equitable for you as a lessee. We can also review and advise on the commercial terms of the lease and what requirements will best protect your business and the exposure to your company or the individuals or directors within. We will suggest ways of giving the minimum security under the lease to limit your businesses and the individuals in the event of a dispute.
In addition, we review the lessor’s disclosure document and assist you in preparing the lessees disclosure document which needs to include any promises or statements made to you by a lessor or an agent that you are relying upon. For example, a shopping centre may be saying to you that there are 1 million people that walk through this centre every year. If your business model is relying upon these facts that you will convert a small percentage of this foot traffic, then you should include in your lessee’s disclosure document the numbers of foot traffic you have been quoted. There are many examples and issues that arise that need similar consideration on which we can advise you.
Speak to our experienced leasing team about ways and strategies we can do this to obtain the best possible position for your business.