Retail Leasing Act - changes in legislation from 1 July 2017

Amendments to the Retail Leases Act 1994 (NSW), will commence on 1 July 2017. Our leasing team run through the pertinent changes including: • removal of the minimum 5 year term • amendments to the definition of retail shop • expansion of the NSW Civil and Administrative Tribunal’s jurisdiction • amendments to the provisions regarding outgoings and disclosure statements • introduction of a timeframe for the return of bank guarantees and • amendments to the provisions regarding rent based on turnover sales. Be sure you understand the changes and are ready for the 1 July 2017 start date. For assistance with leases call Meyer Vandenberg on (02) 6279 4444 or email [email protected]