Commercial Lease Agreement (Multi-Occupancy Premises) (VIC)
A Commercial Lease Agreement is a legal document that can be used when a commercial property within multi-occupancy premises is being leased out in Victoria.
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Last updated January 13, 2025
Under 20 minutes
Suitable for Australia
Written by
Edwin Montoya Zorrilla
Reviewed by
Damin Murdock
Document Overview
You MUST seek advice from a qualified professional before using this lease to check that it meets your specific circumstances. A Commercial Lease Agreement (Multi-Occupancy Premises) (VIC) is a legal document that can be used when a commercial property is being rented from a landlord (lessor) to a tenant (lessee). This document will create a legal relationship between the landlord and tenant; and will allow the parties to the agreement to outline the terms, rights and legal obligations of both the landlord and tenant under the lease.
Generally, whether a property can only be rented through a retail lease will usually depend on questions relating to the size of the property being leased and/or what the property is going to be used for under the lease. As the exact requirements for retail leases do vary with each state and territory, we recommend that this Agreement only be applied to leases in Victoria.
How to complete and execute a Commercial Lease Agreement (Multi-Occupancy Premises) (VIC)
The majority of leases of commercial premises in Victoria are unregistered and in the form of a deed compared to other states where they are usually made by a registered instrument under the relevant Torrens Title Act. Leases may be registered under the Transfer of Land Act 1958 (Vic) if they have more than 10 years left to run.
The registrable instruments provide spaces for the drafter to insert the essential particulars of the lease, eg the names of the lessor and lessee, and the identity of the leased premises. In appropriate cases the precedent below may be used as a schedule or attachment to the relevant forms under the Transfer of Land (General) Regulations 2004 (Vic) () and if this is required, we encourage you to access and review the current regulations at the time of drafting.
The Legal Risk Score of a Commercial Lease Agreement (Multi-Occupancy Premises) (VIC) Template
Our legal team have marked this document as medium risk considering:
- The lease includes provisions for the lessee to pay not only the base rent but also additional costs such as shared expenses, rates, taxes, and maintenance costs, which could increase financial liabilities unexpectedly depending on changes in external factors like taxation or building management decisions.
- The document imposes specific operational restrictions on the use of the leased premises, which could limit the lessee’s ability to adapt the space for varying business needs or could incur additional costs if changes to the premises are desired.
- The lessee is required to maintain comprehensive insurance policies, and failure to comply with these requirements could expose them to significant financial risk in the event of damage or other liabilities. Overall, it is drafted in favour of the lessor.
Commercial Lease Agreement (Multi-Occupancy Premises) (VIC) Checklist
Complete your free Commercial Lease Agreement (Multi-Occupancy Premises) (VIC) with our checklist
Review by Legal Professional
Ensure the lease document is reviewed by a lawyer on the Lawpath platform to confirm that all terms are legally compliant and appropriately tailored to both parties' needs.
Secure Signatures and Witnesses
Obtain the necessary signatures from all parties involved, including witnesses as required, to legally bind the agreement.
Registration and Copies
Register the document if necessary under local laws and distribute copies to all parties to maintain transparency and ensure all have the legal documents on hand.
Ongoing Monitoring and Compliance
Regularly review the terms of the lease and compliance with its conditions, especially regarding payment schedules, maintenance obligations, and insurance requirements, to avoid potential disputes or breaches.
Use this Commercial Lease Agreement (Multi-Occupancy Premises) (VIC) If:
- You want to lease a commercial property, such as a warehouse, factory, store or yard.
- You want to ensure that your commercial property is used in a manner that was intended or agreed upon.
- You want the other party to be aware of the conditions of the property’s use and the consequences of non-compliance with those conditions.
What does this Commercial Lease Agreement (Multi-Occupancy Premises) (VIC) Cover?
- Landlord and tenant identities
- Property being leased
- Tenant conditions
- Length of the lease
- Option to renew the lease or sublease
- Rent amount and frequency of payments
- Termination conditions
- Rights after a breach
Further Information:
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