Occupation standards for Australia
When renting a unit for commercial purposes, it is beneficial to know what is expected from you as ...
When renting a unit for commercial purposes, it is beneficial to know what is expected from you as a tenant as well as what you should expect from your landlord.
Standards for occupation are different the world over and knowing some of the general procedures for renting commercial property in your area may help in negotiating for a space.
A report from property advisor DTZ outlines the most up-to-date standards of occupation in Australia, beginning with a lease document.
Rent is generally paid monthly and costs roughly $800 - $1,600 per square metre. A typical lease length is between five and ten years.
Indexation of rent is yearly and roughly four to five per cent. Subletting is generally allowed and normal wear and tear is acceptable. Early termination of the lease is only possible with a break clause.
As far as responsibilities go, landlords are expected to take care of structural damage, while tenants are to take care of internal repairs and maintenance. The landlord usually pays to insure the building and recovers the cost from the tenants in the form of the rent; tenants are also advised to insure their own contents.
Agent fees are roughly between 11 and 16 per cent, depending on lease length.
It is important to note that here is not one uniform leasing agreement in Australia, meaning that the contracts will likely vary from company to company.