Webinar: The Essentials of Managing a Commercial Lease
Cost: Member: FREE
Date and Time: 6 March 2018, 11am-12pm
CPD points - 1
In this free member webinar, you will learn the key elements of a commercial lease and some valuable tips on managing the lease from two of NSW’s leading commercial agents. In a packed session you will gain knowledge on the following:
Lease administration:
- Essentials of a Heads of Agreement (HOA)
- HOA versus a lease in relation to ‘intent’
- How to read a lease
- Key dates and diary management – rent review dates, scheduled inspections, lease renewal terms, insurance renewals, lease security bonds / top ups
- Service of notices
- Different types of leases including retail and commercial
Key elements of a lease:
- Rent – Annual over $/sqm rate, Net, gross or Semi Gross – Rent Free Periods, payment frequency, arrears, interest charges on overdue
- Rent review structure – CMR, CPI, Fixed %, set increases
- Outgoings – statutory and other building expenses
- Insurance – Lessee requirements such as Public Liability / Plate glass etc.
- Security over the lease – amount / Bank Guarantee
- Options to renew – Term – lease terms and conditions identical, commencing rent methodology
- Lease expiry- taking possession, parting with possession, make good, redecoration
- Costs of lease – Lessors legal fees in preparation, mortgagee consent fees, registration
Meet the presenters
Bobby Suminoski is the Principal and Director of Four Walls Commercial. With over 22 years’ experience in the Newcastle Commercial Property Market, Bobby is responsible for the operations of the agency and is directly involved with the marketing and sales/leasing of property. Bobby is also a member of the Commercial Chapter committee of the Real Estate Institute of NSW.
Shaun Kenney CBRE
Registration not available.