FAQ

FAQ

COVID-19

Peak bodies in the retail industry have released a ‘Retail Recovery Protocol’, which describes steps to ensure employees and customers are COVID-safe in retail stores and shopping centres. There’s also state-by-state guidance for businesses including retailers, on support available and safety measures. For example, the NSW Government has published a COVID-19 Safety Plan, which businesses can register as a having implemented to become ‘COVID Safe’. Furthermore, there are safety plans by industry, which include retail.

The answer to this question will vary on a case-by-case basis. Impacts of COVID-19 may warrant a reassessment of lease assets and liabilities, as well as overall property strategy. If you’re a tenant looking for support to make decisions factoring in business risk and chronic uncertainty at this time, feel free to get in touch.

This is where skillfull representation comes into its own. Such a proposition might constitute bad faith negotiation, a refusal to negotiate, or negotiating subject to an undesirable outcome – but ultimately these interactions need to be considered on a case-by-case basis. Tenant Leasing Group prides itself on our ability to secure favourable commercial positions for our tenants through diplomatic negotiation. If you’re in this situation and wondering what can be done about it – feel free to reach out for a chat.

Demonstrating a reduction in turnover must be evidence-based, but doesn’t necessarily require any given combination of documents. You just require relevant documentation that substantiates the reduction.

Technically, no. The Code’s intent and principles apply to all affected tenants and landlords, regardless of whether they qualify for the Job-keeper program. However, the mandatory aspects of the Code are dependent on an organisation being eligible and qualifying for the Job-keeper program. Because of this, some landlords are refusing to participate (or are slow to enter) in good faith negotiations with tenants that do not qualify as ‘eligible’ for the mandatory aspects of the Code.

The coronavirus pandemic impact is unprecedented in depth and breadth across the Australian economy, including the property market and other national and global sectors.

The National Commercial Leasing Code of Conduct (read it here) and the related messaging from Government emphasize the goal of business continuity, and the related need for acceptance of fairly-shared burdens between tenants and landlords, evidenced by good faith negotiations and resultant lease arrangements.

Tenants negatively impacted by the pandemic should pursue good faith negotiations framed by the Code’s intent and principles, regardless of eligibility to the mandatory aspects – Tenant Leasing Group can help with this. We advise and provide support in order to present evidence substantiating COVID-19’s current and future impact on tenant revenue, utilization of the leased asset, and operating cost.  It’s this kind of representation that facilitates good faith negotiations and is part of securing favourable lease arrangements. Get in touch to see how we can help in this pressing time.

Business needs are primary when it comes to workplace and other property. While our advice and execution will vary for each individual client, our general approach to lease negotiation and management in the current context is to protect current and future business needs, and determine suitable workplace arrangements that fit those needs and risks given the COVID-environment. We’ll then define what changes are needed to lease arrangements to align with said needs and risks, and thereafter enter good faith negotiations with the landlord.  Experienced tenant representation is crucial to successfully link specific COVID-19 rent relief needs with broader leasing and business objectives, and realise a favourable agreement. Get in touch – we’re ready to provide evidence-based advice that supports business continuity and tenancy needs in the new COVID-19 world.

Top 5 FAQs

Property agents and landlords are working on behalf of owners, although these businesses may also offer tenant representation they will benefit from both fees paid by you and commission made selling and leasing properties for owners creating a conflict of interest in some cases. Here at Tenant Leasing Group we work solely in the interest of retail and commercial tenants and buyers – with expertise in analysing both the market, and business needs and staff with experience working on both sides of the negotiation we are adept to negotiating deals and managing property both efficiently and effectively.

By carefully selecting a shortlist of properties you are interested in you create a competitive environment where you can negotiate without fear of missing out. Tenant Leasing Group can guide you through these steps and negotiate the best deal on your behalf. If you’d like to know more, contact us.

Pricing is determined based on the extent and nature of specific, agreed task(s). Feel free to give us a call or drop us an email for a quote. Dodgy leases can still be legally binding, so it’s best to make sure you know what you’re getting into.

No, we don’t manage any properties on behalf of owners, investors or landlords. Our services are purely to save you time and money. Remaining independent means we act only in accordance with client needs – not those of landlords, developers, or other parties. We have no conflict of interest – and this means we can strategically negotiate a lease that is most beneficial to the tenant.

Tenant representation is when an industry professional works on behalf of someone entering a lease, and supports the tenant throughout the leasing process. Here at Tenant Leasing Group we specialise in working with a range of business and non-business clients to fulfill retail, commercial, industrial, and other property needs. Get in touch.

New to commercial leasing? Here are some of the basics.

Property agents and landlords are working on behalf of owners, although these businesses may also offer tenant representation they will benefit from both fees paid by you and commission made selling and leasing properties for owners creating a conflict of interest in some cases. Here at Tenant Leasing Group we work solely in the interest of retail and commercial tenants and buyers – with expertise in analysing both the market, and business needs and staff with experience working on both sides of the negotiation we are adept to negotiating deals and managing property both efficiently and effectively.

Unlike residential spaces, commercial and retail properties are usually quoted in an annual per square metre rate or annual total cost.

Theres a much wider variety of commercial property transactions than in the purchase of residential. Any real estate deal has its share of risks, and problems that can arise which you could never really foresee. In general, however, the risk and potential liability exposure that you face on a commercial real estate deal can be much greater than when you buy a house. We all have a pretty good idea of what goes on in a typical family home, but can you say the same thing about a piece of business property? Depending on the nature of the business, commercial property may have all kinds of restrictions and leasing problems. There may be greater concerns about hazardous materials or zoning issues. And there will always be questions about the suitability of the property’s location for your business needs. Also, in many instances, you are not afforded the same consumer protections on a commercial real estate deal that may be available when you purchase residential property.

Lease terminations are context-dependent and almost always involve negotiation. Staff at Tenant Leasing Group have 35 yrs experience in negotiating optimal exit strategies for clients in a range of markets. Get in touch to see how we can help with reading over your Lease to understand your obligations and options, and negotiating the best possible exit strategy for you.

Tenant Leasing Group can help with a range of spaces including kiosks, pop-ups and subletting, which can be both less expensive and less commitment. We’d love to hear from you if you’re thinking of opening up a space – whatever the shape or size! Get in touch.

Tenant Representatives have access to the same database of available properties. Using more than one representative can result in more inquiries to the same property, resulting in the building owner misinterpreting demand and inflating rental rates. It would be more effective to find a tenant rep with more experience rather than more tenant reps, it will be cheaper and more effective.

Firstly – consider it if you are unsure of anything, and want clarity. Before renewing a lease consider negotiating new terms or obtaining needed improvements. Even with an option to renew, the tenant is always able to renegotiate the terms. Often the marketplace has changed and the terms of your option-to-renew that looked good five years ago are now part of a more competitive market. A tenant representative can let you know where you can improve the terms of your lease, how they compare to the marketplace, and even negotiate with the landlord on your behalf.

It is the tenants responsibility to have utilities connected, pay rates, and have accounts terminated when they vacate the property. Prior to a lease being signed it is important to check with your preferred providers that they are happy to service the property. This includes phone/internet/TV services as well as electricity and gas.

Land use zones are tools used to guide and manage the current and future use of land. Land zoning looks to locate common users close together such as putting houses near shops, and parks near schools. We can help you establish where you can and can’t run your business, and we’ll provide research at every step of the way. Get in touch to find out more.

Proper written documentation and communication with your landlord is the most important thing renters can do to protect their rights. In-house lease administration at Tenant Leasing Group makes us extremely thorough, and industry experience helps tenant representatives to foresee issues and take precautionary steps in negotiating leases.

Most commercial leases allow the lessee to sublease or assign their premises. It is best to address this at the beginning of your lease, and a good thing to have in writing just in case. Still have questions? Feel free to get in touch.

By carefully selecting a shortlist of properties you are interested in you create a competitive environment where you can negotiate without fear of missing out. Tenant Leasing Group can guide you through these steps and negotiate the best deal on your behalf. If you’d like to know more, contact us.

If you start talking to a tenant representative as soon as you start thinking about opening a new space you are able to establish your needs, get a better idea of costs involved with the lease and leasing process, and make the most of off market opportunities.

What does Tenant Leasing Group offer? Our core services.

Property agents and landlords are working on behalf of owners, although these businesses may also offer tenant representation they will benefit from both fees paid by you and commission made selling and leasing properties for owners creating a conflict of interest in some cases. Here at Tenant Leasing Group we work solely in the interest of retail and commercial tenants and buyers – with expertise in analysing both the market, and business needs and staff with experience working on both sides of the negotiation we are adept to negotiating deals and managing property both efficiently and effectively.

Absolutely! We understand the market and have industry connections and off market opportunities to make sure you have plenty of options that suit your business. Get in touch.

Lease terminations are context-dependent and almost always involve negotiation. Staff at Tenant Leasing Group have 35 yrs experience in negotiating optimal exit strategies for clients in a range of markets. Get in touch to see how we can help with reading over your Lease to understand your obligations and options, and negotiating the best possible exit strategy for you.

Tenant Leasing Group can help with a range of spaces including kiosks, pop-ups and subletting, which can be both less expensive and less commitment. We’d love to hear from you if you’re thinking of opening up a space – whatever the shape or size! Get in touch.

Sadly we can’t – this is outside of our control. Covenants need to be addressed between the owners of the properties they effect, but you’ll be made aware of them before entering any leases should they effect you.

Leases are usually written contractual agreements, and they can be pretty lengthy and beefy especially, for commercial uses. It is a lease administrators job to oversee what goes into them, meticulously editing and communicating quickly with stakeholders helps to minimise legal and financial risks.

By carefully selecting a shortlist of properties you are interested in you create a competitive environment where you can negotiate without fear of missing out. Tenant Leasing Group can guide you through these steps and negotiate the best deal on your behalf. If you’d like to know more, contact us.

Pricing is determined based on the extent and nature of specific, agreed task(s). Feel free to give us a call or drop us an email for a quote. Dodgy leases can still be legally binding, so it’s best to make sure you know what you’re getting into.

No, we don’t manage any properties on behalf of owners, investors or landlords. Our services are purely to save you time and money. Remaining independent means we act only in accordance with client needs – not those of landlords, developers, or other parties. We have no conflict of interest – and this means we can strategically negotiate a lease that is most beneficial to the tenant.

Commercial Tenant Representation – what is it, who is it for, why do you need it, when should you get it?

Property agents and landlords are working on behalf of owners, although these businesses may also offer tenant representation they will benefit from both fees paid by you and commission made selling and leasing properties for owners creating a conflict of interest in some cases. Here at Tenant Leasing Group we work solely in the interest of retail and commercial tenants and buyers – with expertise in analysing both the market, and business needs and staff with experience working on both sides of the negotiation we are adept to negotiating deals and managing property both efficiently and effectively.

Your Tenant Representative should bring experience, market knowledge, and a proven track record to the table. When you’re entering into a 3, 5, or 10 year lease (or longer!), you need to know you’ve got a practiced professional negotiating the best deal for you. Choose a Tenant Representative with a strong background in your key market, and someone who is willing to go the extra mile to ensure your satisfaction.

Tenant Representatives have access to the same database of available properties. Using more than one representative can result in more inquiries to the same property, resulting in the building owner misinterpreting demand and inflating rental rates. It would be more effective to find a tenant rep with more experience rather than more tenant reps, it will be cheaper and more effective.

Firstly – consider it if you are unsure of anything, and want clarity. Before renewing a lease consider negotiating new terms or obtaining needed improvements. Even with an option to renew, the tenant is always able to renegotiate the terms. Often the marketplace has changed and the terms of your option-to-renew that looked good five years ago are now part of a more competitive market. A tenant representative can let you know where you can improve the terms of your lease, how they compare to the marketplace, and even negotiate with the landlord on your behalf.

You should expect a tenant representative to act only in your interest, and to give you advice tailored to your situation. The tenant representative should help you determine how much space you need, what is your most important selection criteria, and then find and negotiate the space that best fits your needs. When it comes to the negotiation, make sure your tenant representative knows what is important to you.

Yes, the leasing agent has the listing of the property and represents the interest of the owner of the building, whereas a tenant representative works for the interest of the tenant in the lease. Some agents work exclusively on listing while others take on tenant representation only. Other agents will work with both.

If you start talking to a tenant representative as soon as you start thinking about opening a new space you are able to establish your needs, get a better idea of costs involved with the lease and leasing process, and make the most of off market opportunities.

Tenant representation is when an industry professional works on behalf of someone entering a lease, and supports the tenant throughout the leasing process. Here at Tenant Leasing Group we specialise in working with a range of business and non-business clients to fulfill retail, commercial, industrial, and other property needs. Get in touch.

Common phrases and definitions in Commercial Leasing

A bank guarantee is a promise from a bank or lending institution that, if a borrower defaults on repayment of a loan, the bank will cover the loss to the landlord, whereas a bond is a deposit to keep a property in its original condition.

The Lease Term is the amount of time both parties commit to the Lease agreement.

Property agents and landlords are working on behalf of owners, although these businesses may also offer tenant representation they will benefit from both fees paid by you and commission made selling and leasing properties for owners creating a conflict of interest in some cases. Here at Tenant Leasing Group we work solely in the interest of retail and commercial tenants and buyers – with expertise in analysing both the market, and business needs and staff with experience working on both sides of the negotiation we are adept to negotiating deals and managing property both efficiently and effectively.

Land use zones are tools used to guide and manage the current and future use of land. Land zoning looks to locate common users close together such as putting houses near shops, and parks near schools. We can help you establish where you can and can’t run your business, and we’ll provide research at every step of the way. Get in touch to find out more.

Base Rent is the the minimum amount paid by the tenant set out in the lease.

Leases are usually written contractual agreements, and they can be pretty lengthy and beefy especially, for commercial uses. It is a lease administrators job to oversee what goes into them, meticulously editing and communicating quickly with stakeholders helps to minimise legal and financial risks.

A renewal option is a written agreement that states the tenant can choose to stay on and sign another lease when the initial period is over.

A “make good” just means that you the tenant are obliged to return the property to its original state at the end of your lease, within reason. The cost is equivalent to any work that needs to take place.

Tenant representation is when an industry professional works on behalf of someone entering a lease, and supports the tenant throughout the leasing process. Here at Tenant Leasing Group we specialise in working with a range of business and non-business clients to fulfill retail, commercial, industrial, and other property needs. Get in touch.

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