--- title: 5 Considerations When Entering into (or Exiting) Residential, Retail or Commercial Leases | Rose & Jones description: Knowing what to look for when entering into a lease, whether it be residential, retail or commercial, is sometimes confusing. To simplify we have outlined image: https://blog.roseandjones.com.au/hubfs/Imported_Blog_Media/hero-leasing.jpg --- Suites 10-11, 19-27 Cross St, Double Bay [+61 2 9327 6944](tel:%20+61%202%209327%206944) [Contact](https://www.roseandjones.com.au/contact/) [![Rose and jones](https://blog.roseandjones.com.au/hubfs/raw_assets/public/Rose_and_Jones_Sep2021/images/logo.svg "Rose and jones")](https://www.roseandjones.com.au/) Toggle navigation - Buying Property - [Residential](https://www.roseandjones.com.au/buyers-agents-in-sydney/) - [Commercial](https://www.roseandjones.com.au/commercial-property-buyers-agents/) - Property Management - [Residential](https://www.roseandjones.com.au/asset-management-residential/) - [Commercial](https://www.roseandjones.com.au/asset-management-commercial/) - About - [It’s Personal](https://www.roseandjones.com.au/about/its-personal/) - [Our Team](https://www.roseandjones.com.au/about/our-team/) - [Recent Results](https://www.roseandjones.com.au/about/recent-results/) - [Privacy Policy](https://www.roseandjones.com.au/about/privacy-policy/) - For Lease - [Residential](https://www.roseandjones.com.au/for-lease/residential/) - [Commercial](https://www.roseandjones.com.au/for-lease/commercial/) - Partners - [Why work with R&J?](https://www.roseandjones.com.au/why-work-with-rj/) - [Become an affiliated partner](https://www.roseandjones.com.au/become-an-affiliated-partner/) - Media - [Rose & Jones in the Press](https://www.roseandjones.com.au/news/rose-jones-media/) - [Testimonials](https://www.roseandjones.com.au/testimonials/) - [R&J Blog](https://www.roseandjones.com.au/blog) - [Area in Focus](https://www.roseandjones.com.au/focus-sydneys-prime-markets/) - Tenants - [Tenant Administration](https://www.roseandjones.com.au/tenant-administration/) - [Residential Tenant](https://www.lookatmyproperty.com.au/942321/Account/Logon?type=1001) - [Commercial Tenant](https://www.lookatmyproperty.com.au/737777/Account/Logon?type=1001) - [Contact](https://www.roseandjones.com.au/contact/) - Client Login - [Buyer](https://www.roseandjones.com.au/client-login/) - [Residential Owner](https://www.lookatmyproperty.com.au/942321/Account/Logon?type=1000) - [Commercial Owner](https://www.lookatmyproperty.com.au/737777/Account/Logon?type=1000) - Media - R&J Blog - 5 Considerations When Entering into (or Exiting) Residential, Retail or Commercial Leases # 5 Considerations When Entering into (or Exiting) Residential, Retail or Commercial Leases ### Categories: - [Buyers Agency (49)](https://blog.roseandjones.com.au/tag/buyers-agency) - [Property Management (48)](https://blog.roseandjones.com.au/tag/property-management) ![Byron Rose](https://blog.roseandjones.com.au/hs-fs/hubfs/Rose_and_Jones_Sep2021/images/author.png?width=96&height=96&name=author.png) 11 February 2018 Author: Byron Rose ### Knowing what to look for when entering into a lease, whether it be residential, retail or commercial, is sometimes confusing. To simplify we have outlined below the following things to consider. ### Residential 1. Tenants are required to give landlords 14 days’ notice to vacate *prior* to a fixed term expiry date 2. Tenants are required to give landlords 21 days’ notice to vacate after a fixed term expiry date 3. Tenants can give landlords 14 days’ notice to vacate during a fixed term expiry date if the landlord fails to notify intention to sell the property prior to entering into a lease. 4. Landlords are required to give tenants 30 days’ notice to vacate prior to a fixed term expiry date 5. Landlords are required to give tenants 90 days’notice to vacate after a fixed term expiry date ### Retail 1. Rent is charged per metre squared per annum and defined as Net Lettable Area 2. As of 1 July 2017 there is no minimum term required for a retail lease 3. The landlord cannot rescind an offer to lease upon the issue of a Lessors Disclosure statement, the tenant can (unless a lease is signed and given 7 days to cool off). 4. If a Lessors Disclosure Statement has misleading information or is incomplete the tenant may terminate their lease within 6 months of commencement 5. A landlord will typically consider a retailers former business success, financial stability, lease history and suitability to the existing tenancy mix prior to entering into a lease. ### Commercial 1. Rent is charged per metre squared per annum and defined as Net Lettable Area 2. Various ways to charge the rent; 3. Face Rent (advertised) 4. - Net Rent (Excluding building outgoings) - Gross Rent (Including building outgoings) - Effective Rent (Net of Incentives) 5. Access is typically granted when a landlord receives; - a signed lease - 1 month’s rent in advance - a bank guarantee - a certificate of insurance 6. A lease proposal (or Heads of Agreement) is a show of good faith and not a binding contract 7. The tenant typically pays the Landlord’s and their own legal costs, except under RLA (Retail Leases Act) Written by [**James Maxwell**](https://www.roseandjones.com.au/team-member/james-maxwell-514/) Senior Leasing Manager [james@roseandjones.com.au](mailto:james@roseandjones.com.au) [Prev Article](https://blog.roseandjones.com.au/blog/certainty-uncertain-time) [Next Article](https://blog.roseandjones.com.au/blog/looking-through-the-mist) ![Rose and Jones Buyer's Agency](https://blog.roseandjones.com.au/hs-fs/hubfs/Imported_Blog_Media/hero-leasing.jpg?width=1998&height=1998&name=hero-leasing.jpg) ## What else can we help you with? - [Commercial Asset Management](https://www.roseandjones.com.au/asset-management-commercial/) - [Residential Buying](https://www.roseandjones.com.au/buyers-agents-in-sydney/) - [Commercial Buying](https://www.roseandjones.com.au/commercial-property-buyers-agents/) - [Auction Bidding](https://www.roseandjones.com.au/buying-property-residential/#auction-bidding) - [Vendor Advocacy](https://www.roseandjones.com.au/buying-property-residential/#vendor-advocacy) ## We're here to listen **GET IN TOUCH**