Commercial Lease Agreement (Multi-Occupancy Premises) (VIC)
A Commercial Lease Agreement is a legal document that can be used when a commercial property within multi-occupancy premises is being leased out in Victoria.
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Document Overview
You MUST seek advice from a qualified professional before using this lease to check that it meets your specific circumstances. A Commercial Lease Agreement (Multi-Occupancy Premises) (VIC) is a legal document that can be used when a commercial property is being rented from a landlord (lessor) to a tenant (lessee). This document will create a legal relationship between the landlord and tenant; and will allow the parties to the agreement to outline the terms, rights and legal obligations of both the landlord and tenant under the lease.
Generally, whether a property can only be rented through a retail lease will usually depend on questions relating to the size of the property being leased and/or what the property is going to be used for under the lease. As the exact requirements for retail leases do vary with each state and territory, we recommend that this Agreement only be applied to leases in Victoria.
How to complete and execute a Commercial Lease Agreement (Multi-Occupancy Premises) (VIC)
The majority of leases of commercial premises in Victoria are unregistered and in the form of a deed compared to other states where they are usually made by a registered instrument under the relevant Torrens Title Act. Leases may be registered under the Transfer of Land Act 1958 (Vic) if they have more than 10 years left to run.
The registrable instruments provide spaces for the drafter to insert the essential particulars of the lease, eg the names of the lessor and lessee, and the identity of the leased premises. In appropriate cases the precedent below may be used as a schedule or attachment to the relevant forms under the Transfer of Land (General) Regulations 2004 (Vic) () and if this is required, we encourage you to access and review the current regulations at the time of drafting.
Use this Commercial Lease Agreement (Multi-Occupancy Premises) (VIC) If:
- You want to lease a commercial property, such as a warehouse, factory, store or yard.
- You want to ensure that your commercial property is used in a manner that was intended or agreed upon.
- You want the other party to be aware of the conditions of the property’s use and the consequences of non-compliance with those conditions.
What does this Commercial Lease Agreement (Multi-Occupancy Premises) (VIC) Cover?
- Landlord and tenant identities
- Property being leased
- Tenant conditions
- Length of the lease
- Option to renew the lease or sublease
- Rent amount and frequency of payments
- Termination conditions
- Rights after a breach
Further Information:
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