A Victorian commercial lease is suitable for premises primarily used for wholesale trade, manufacturing or storage. Step Four – if both parties were satisfied with the terms, they would sign the agreement. Periodically – A periodic lease continues as long as neither party wishes to terminate the lease. To terminate the lease, landlords and tenants must communicate their intention to leave, as required by law. A landlord may increase the rent or change the terms of the tenancy agreement in these types of contracts by making a formal termination in accordance with the law. At the end of the notice period, the tenant must move or the landlord may initiate eviction proceedings against him. You should take the time to read the terms and this manual before signing the agreement. A tenancy agreement is a legal contract between tenants and landlords, for which there is no cooling-off period. In the event of the use of a written tenancy agreement, the landlord must provide an unsigned copy of the lease to the tenant (s) before inviting him to the signature.
Tenants should always read the lease carefully before signing and ask questions if they do not understand part of the contract. The standard form agreement not only provides room for parties to complete the relevant details, but also easily lists some of the conditions that must apply to all agreements under Victorian law. If you are renting a building where the tenant is dealing with members of the public, you cannot use that commercial lease – you must instead use a retail lease. Second, the agreement contains the terms of the lease. This includes rent, maintenance and the rights and obligations of tenants and landlords. If you sign a rental agreement, you contractually agree to pay the rent to the landlord. This is a legal obligation that the courts take seriously. You may be liable to the landlord for the landlord not paying the rent, even if you have a good reason for not being able to take possession. In some situations, it may be cheaper for you to simply take possession and immediately notice that you will evacuate as soon as the notice expires – it may sometimes be better to pay one or two months` rent than to go to court and be forced to pay more.