What types of leasing considerations may be relevant to the requirements of my business?

• There are many different factors you should consider when deciding if a lease is right for your business. These include:
  • whether it is the right location for your business, whether the premises meet your requirements with respect to passers-by and whether the premises will be able to accommodate the growth of your business;
  • your ability to afford the location remembering that rent is only one of the costs that you will be required to pay under a lease;
  • whether there any zoning requirements that could stop you using the space as intended;
  • whether you need a license or permit to run your business in the location you are looking at;
  • whether the floor plan is practical and functionally suited to your business;
  • whether you need to change anything about the premises in order to meet occupational health and safety regulations such as:
    • water pipes;
    • electrical wiring; or
    • slippery surfaces;
  • the type of customer your business is targeting and the types of customers that frequent the location you are considering;
  • Whether there any structural engineering or asbestos checks you should make to ensure the premises are safe for you and any employees to work in;
  • whether the consent of the landlord is required in writing to enable you to do any installation works prior to occupying the premises;
  • how long you need the lease to be to recover your costs and make a profit;
  • if you are entitled to a minimum lease term under the laws in your state or territory and whether you or the landlord requires a waiver of that minimum term;
  • whether you are able to obtain the lease term you require at the location you are looking at; and
  • any fit out your business will need including:
    • the cost of the fit out;
    • whether the floor space can accommodate the fit out you have in mind; and
    • whether any changes to the premises will require written permission or approval.
• You can use our free and anonymous Ask a Lawyer service if you have a particular issue you want to know more about.