What are your options?BY Phillip Chapman
In life and of course in business we regularly review and assess important services and contracts associated to both.
We review our private health, life insurance, phone/internet providers, energy bills, superannuation/financial planning most of us at least once a year.
In our business environments we review similar arrangements like phones, internet, energy, websites, data handling and the majors such as salaries/ wages, rosters and then of course compliance with the ATO. And finally our financial statements – profit and loss and balance sheets.
Not to mention core supplier terms and contracts and for a large majority, even franchise agreements. All of which both personally and corporately these are assessed or given due consideration at least once a year.
The most vitally important contract to which all the aforementioned activities is wholly relied upon – the lease doesn’t even rate a mention let alone reviewed at all for sometimes several years.
In this modern age of technology, there is no excuse for ignoring the very document that secures your rights (and of course future rights) over someone else’s land to conduct your business.
What are your options? These are simple, either set up regular reminders to review your lease each year (a new year’s resolution we can all keep), or arrange for someone else to do it for you.
Retailers end up paying too much rent and all too often losing their business because they missed their option or didn’t leverage time before the lease expiry.
The Australian Retailers Association (ARA) can assist by facilitating with simple electronic lease event reminders at 18, 14, 12 & 6 month intervals prior to your lease expiry. These will include a checklist of action steps you can take towards securing a better lease for your business.
So, what are your options?
Do you want a better deal on your lease? Lease1 is the leader in its specialist field and is committed to providing personal, timely and cost-effective services to save tenants time, money and stress in their lease negotiations. Visit www.lease1.com.au
ABOUT THE AUTHOR
Lease 1 Retail Leasing Do You Want A Better Deal On Your Lease? "Retailers don't get what they deserve... they get what they negotiate." Lease1 is the leader in its specialist field and is committed to providing personal, timely and cost-effective services to save tenants time, money and stress in their lease negotiations. Securing and protecting the commercial terms of our clients’ leases is our core business, supported by wide-ranging tenant consultancy services, encompassing lease information and research, site sourcing and selection, dispute resolution, retail franchising and portfolio administration. Our industry-leading Lease1 service adds security and value to a retailer’s business through professional lease negotiation and tenant representation on: • New Leases • Lease Renewal • Lease Options • Rental Research • Site Selection • Dispute Resolution • Crisis Management