In theory, owning a business seems like a dream come true. Your idea has come to life and you can enjoy the work you do knowing your building something progressive while also earning money. However, there are many pitfalls along the way that can stump even the most organized of business owners, if they haven’t sought proper legal advice.

First and foremostly, small business owners will greatly benefit from nailing from the outset, the correct lease type for their business. If your business is in the field of selling, hiring or providing goods, then you’re in the market for a retail lease. More complex businesses will require a Commercial lease to facilitate their business.

Not only is the correct lease type of fundamental importance to the tenant, but also for the landlord. As a landlord, entering into the appropriate lease with a business tenant, can provide surety and protection for their investment, as well as making sure that the lease is enforceable. Landlords should seek legal advice to be advised on any other crucial clauses that should be included in their lease agreement to ensure it is binding and beneficial for all parties involved.

With the correct legal advice, both tenants and landlords can minimize the risk of disputes both presently, and further down the track.

Proper legal advice can also assist in entering into the correct agreements for small businesses, further cementing a peaceful partnership between business partners, franchise owners, and the potential change in business ownership.

Real Estate Trends Sydney 2021

The Home Builder’s Scheme will continue until March in the hopes of bolstering a major decline in construction works. The Central Bank cut cash rates to 0.1 per cent in a further bid to support recovery.

Westpac economists estimate