Lease terms are certainly negotiable, however, the other party’s willingness to negotiate will depend on your respective bargaining positions. Local market forces and the unique circumstances of each party will usually determine whether any flexibility can be found in a particular clause. 

Yes, a lease can be amended by the parties through the execution of a deed of variation.

Leases will expire at the end of their term unless otherwise agreed by the parties. Options to renew can be offered as part of the lease agreement, as well as clauses stating the lease shall continue on a month by month basis unless terminated by the parties. 

Commercial leases can cover a wide variety of subject matter and it can be difficult to fully understand the implications this will have on you or your business. You should seek legal advice to ensure your interests are properly protected. 

Some things to look out for in commercial leases include:

– Options to renew;

– Payment of outgoings;

– Rental increases;

– Permitted uses;

– Demolition clauses;

– Maintenance liability;

– Make good requirements;

– Insurance obligations;

– Personal or director guarantees;

– Penalties and Termination provisions; and

– Incentives.