At Monardo Solicitors, we understand that the complexities of real estate law can be not only confusing but a little intimidating.

Consequently, we focus on giving you clear and comprehensible advice regarding your property law transaction or matter.

If you are buying or selling a property, we offer a more bespoke service than do large conveyancing companies that prefer to make a quick buck by churning, as fast as possible, through the contracts that land on their desks.

How do we do this?

First, we take the time to explain the conveyancing process to you so you understand exactly what is going on.

Second, we manage the process so your matter is handled with maximum efficiency (which keeps costs down).

Third, we focus on the details and make sure we identify any problematic issues before they become major headaches.

If you are a tenant or landlord looking to lease a commercial or retail property, we will make sure we understand your business. We also help you not only to understand the fine print but to negotiate a lease that fits with your commercial situation. Most importantly, our litigation team can help if you find yourself in dispute over the terms of a lease.

As is widely known, living in high- or medium-density housing can lead to disputes, simply because you often have very different people living in close proximity to one another. We can advise and act for you in strata disputes, as, quite often, such disagreements can be resolved through negotiation. However, if you find yourself in a dispute that needs mediation, or to be taken to a tribunal or court, our litigation team can help you.

Our real estate practice can advise and act for you in the following areas:

• conveyancing

• commercial leases

• retail leases

• strata disputes

If you are buying a family residence, investment property or business, you need a lawyer who is organised and has attention to detail to manage the transaction, in order to ensure that the process runs smoothly.

At Monardo Solicitors, we are experts in:

• residential property conveyancing

• commercial property conveyancing

• mortgages and refinancing.

Whether you are buying, selling or transferring a property, we can assist.

How can we help you buy your property?

Buying a home is the biggest financial decision most people make.

If you are first home buyer and are unfamiliar with the process, you will need someone to explain and guide you through it, as well help you avoid the pitfalls. We will ensure that neither the seller nor the real estate agent can take advantage of you.

For these reasons, you probably don’t want to use a firm that has a cookie-cutter approach to conveyancing, because you want a lawyer who can identify any problems and sort them out as quickly as possible so that settlement is not delayed. You also want a lawyer who can help you establish which fittings and fixtures are included in the sale. These basic principles apply whether you are purchasing the home of your dreams or an investment property. We pride ourselves on keeping in top of the details, as well as keeping you up to date with the progress of your conveyance throughout the process.

At the same time, you don’t want to spend a silly amount on conveyancing fees, and we pride ourselves on offering a conveyancing service that gives you value for money.

We have extensive experience helping clients purchase properties at all levels of the market. Again, we provide our expertise for a reasonable price, meaning that you can be sure your conveyance is managed by a solicitor in a cost-effective way.

How can we help you sell your property?

It can be stressful selling a property. Once again, you need a conveyancing team that is experienced, and looks at the transaction from a number of angles to ensure you don’t hit any bumps in the road.

At Monardo Solicitors, we take the hassle out of the selling process because we can

• coordinate with the real estate agent and the purchaser’s solicitor on your behalf.

• deal with the bank that holds a mortgage on your behalf

• coordinate with the purchaser’s mortgagee

• transfer the property to the purchaser

• finalise settlement.

Our focus is protecting your interests, as well as keeping you informed throughout the process.

How can we help you transfer your property?

Quite often, it is necessary to transfer property between family members, especially in the event of a marriage breakdown. We are experienced in preparing property transfers.

How can we assist with an off-the-plan purchase?

Buying a property off the plan can be risky. Therefore, it is wise to use a solicitor who has experience in this area, so that your purchase doesn’t turn into a nightmare.

How does Monardo Solicitors approach conveyancing?

At Monardo Solicitors, we treat each conveyance we do as unique. However, we use a streamlined process to manage transactions. Ultimately, our objective is that your conveyance runs without a hitch. However, if we run into any problems, we can identify them and look at ways of resolving the issue early.

How does our purchase of residential property form work?

If the purchase of your property is relatively straight forward and you wish to minimise the cost of the conveyancing, you may wish to use our online purchase of property form.

Step One: You simply fill in the online purchase of property form providing us with the basic information about the property you are buying and send it to us via the reply button at the bottom of the page.

Step Two: We get in touch with you quickly to let you know how much it will cost to handle the conveyancing for the purchase of the property.

Step Three: If you accept our quote, we will commence working on your matter.

Step Four: We will manage the purchase of your property from the exchange of contracts to settlement.

How does our sale of residential property form work?

If the sale of your property is relatively straight forward and you wish to minimise the cost of your conveyancing, you may wish to use our online sale of property form.

Step One: You simply fill in the online sale of property form providing us with the basic information about the property you are selling and send it to us via the reply button at the bottom of the page.

Step Two: We get in touch with you quickly to let you know how much it will cost to handle the conveyancing for the sale of your property.

Step Three: If you accept our quote, we will commence working on your matter.

Step Four: We will manage the sale of your property from the exchange of contracts to settlement.

Generally, commercial leases are more complicated than residential leases, because they are usually customised to a specific situation. As a result, if you are a tenant who is about to sign a lease for commercial premises, it is important to seek legal advice to ensure its terms match your needs.

In the same way, if you are a landlord looking to lease your premises, you should ensure that any lease drafted on your behalf supports your commercial objectives.

How can we help you with your commercial lease?

The process of preparing a commercial lease usually involves a fair amount of negotiation. For that reason, it is important to retain a lawyer who:

• understands your situation

• can represent your interests effectively

• is able to navigate you through the process

• can help you avoid any pitfalls.

At Monardo Solicitors, we are experienced in advising landlords, tenants and managing agents on all legal issues associated with commercial leases.

We can undertake:

• due diligence for prospective tenants or guarantors.

We can review or draft:

• letters of offer

• agreements to lease

• commercial leases

• disclosure statements

• fit-out/incentive agreements

• exercise of option letters (to ensure that any right to renew the lease is not lost).

We can also advise you on:

• your rights and obligations (whether you are the landlord or tenant)

• renewals and extensions

• defaults/terminations

• rent increases or adjustments, including market rent reviews

• assignments or transfers

• subleases

• licensing arrangements

• surrenders

• disputes.

Are you a tenant?

As a tenant, it is important that you get legal advice when you are considering signing a commercial lease, because you need to ensure you are properly protected and that any informal agreement reached in discussions with the landlord is recorded in the lease itself.

At Monardo Solicitors, we can review and negotiate your commercial lease in order to ensure that you understand the key terms, as well as identify any terms that may later become detrimental to your business.

Key issues you need to consider are:

• What is the initial rent?

• How are rental increases to be calculated?

• What method is used to calculate rental increases?

• What is the length of the lease?

• What other expenses are you required to pay under the lease?

• Does the length of the lease suit you and your business?

• What are the terms on which improvements to the property can be made?

• Does the property need to be returned to its original condition at the end of the lease?

• What are your rights to renew the lease?

• Can you transfer or assign the lease?

• Is it possible to sublet the premises?

• How can you resolve disputes?

• Does the lease include all the areas you expect to use, including bathrooms, parking areas and common areas?

Are you a landlord?

As a landlord, it is important that any lease is skilfully drafted, to ensure that your investment is properly protected and you have rights of recourse against your tenant if they don’t abide by the terms of the lease.

Key issues you need to consider are:

• Does the lease allow you to review the rent at appropriate times?

• Does the lease allow you the appropriate discretion if the tenant wants to assign the lease?

• Does the lease provide you with sufficient rights at the end of the tenancy if the tenant fails to remove their fit-out and make good the premises?

How does Monardo Solicitors approach commercial leases?

At Monardo Solicitors, we understand that it is important to take the time to understand both your business and your business objectives before advising you on the terms of any commercial lease you are planning to sign. We are also very good at focusing on the details so you can avoid any potential pitfalls.

Retail leases are more complicated than residential leases because, in New South Wales (and the other Australian states), they fall under a highly regulated area of the law.

You also need to be aware that, if you are a tenant, entering into a retail lease is a serious financial commitment.

As a landlord, you need to make sure the lease helps you protect your investment.

Consequently, before you sign a lease or enter into possession of a building, you should seek legal advice to make sure:

• you understand your rights and obligations under the terms of the lease

• you can comply with the terms of the lease

• you negotiate carefully any terms that do not fit with your business objectives

• the lease states what was agreed between you and the landlord/tenant in any discussions about the lease.

What is the difference between a retail lease and a commercial lease?

The Retail Leases Act 1994 (NSW) sets out the legal arrangements between landlords and tenants for shops selling and supplying goods and services, where the shop is less than 1,000 square metres and is used for a retail business.

As we’ve already pointed out, retail leases are more highly regulated than commercial leases and, as a result, there are more rules regulating the way in which retail leases work.

How does Monardo Solicitors approach retail leases?

Are you a tenant considering signing a retail lease?

At Monardo Solicitors, we can advise you at all stages of the leasing process and ensure that you are alerted to any potential pitfalls.

Stage One: Before you sign a retail lease

We can advise you on the terms of your lease and help you negotiate them with the landlord.

This process will involve:

• examining the financial implications of signing the lease

• checking with the local council to see if you need written consent for the type of business you plan to run

• discussing the terms of the lease

• ensuring that the chances of disputes with the landlord are minimised.

Stage Two: Dealing with disputes

If you end up in a dispute with your landlord, we can assist by providing you with a professional assessment of the strengths and weaknesses of your case.

As experienced litigators, we always try to resolve such disputes through negotiation or mediation. However, if you do end up in court, you will know that you are in competent hands.

Stage Three: End of the lease and options

We can advise you on the steps you can take if your lease is running out. If you have an option to extend the lease, we can assist you to exercise that option. You need to bear in mind that you could run into trouble if you exercise the option late or incorrectly.

We can also advise you on other issues that may emerge at the end of a lease, such as the:

• determination of market rent

• ‘making good’ requirements (i.e. your obligations to return the premises in the same condition they were in at the start of the lease, taking into account fair wear and tear).

Stage Four: Transferring the retail lease when you sell the business

When you come to sell your business and you need to assign your lease, we can ensure that the process is undertaken correctly and that you follow the process set out in the Retail Leases Act 1994.

Are you a landlord looking to sign a retail lease?

At Monardo Solicitors, we are experienced in advising landlords on retail leases. We can help you not only negotiate with your prospective tenant, to ensure that your investment is protected, but draft a lease that covers all the key issues.

FAQ’s

When does a retail lease start?

A retail lease starts when the lease is signed, the tenant starts to pay rent or when they take possession of the shop (whichever occurs first).

What kinds of shops are covered by the Retail Leases Act 1994 NSW?

Most types of shops or retail operations are covered by the Retail Leases Act 1994.

However, certain kinds of retail shops are not covered by the legislation (such as shops with a lettable area of 1,000 square metres or more, and leases with a term of 25 years or more).

What is a disclosure statement?

Under the Retail Leases Act 1994, a landlord is required to provide a tenant with a lessor’s disclosure statement about the terms of the lease and the retail lease premises, together with a Retail Tenant’s Guide, no later than seven days before the lease begins.

If you are a tenant and were not provided with a lessor’s disclosure statement, or there is a serious misrepresentation contained in the lessor’s disclosure statement, you may have the right to terminate the lease within the first six months, by giving notice in writing to the landlord.

What is a tenant’s disclosure statement?

A tenant is required to give a lessee’s disclosure statement to the landlord within a certain time after receiving a lessor’s disclosure statement.

What is the minimum period for a retail lease in NSW?

Under the Retail Leases Act 1994, a retail least must be for a minimum of five years.

In certain circumstances, a tenant may, under section 16 of the legislation, waive the minimum period in favour of a lesser term, by presenting the landlord with a certificate.

What is ‘key money’? Is a landlord entitled to ‘key money’?

Under the Retail Leases Act 1994, key money is defined as a ‘premium, non-repayable bond or otherwise … or any benefit in connection with thee granting, renewal, extension or assignment of a lease.’

The legislation prohibits landlords of retail leases from asking for or accepting key money. As a result, contract or lease terms that specify the payment of key money by you to the landlord are void.

Can a landlord ask for a bond or bank guarantee?

Yes, under the Retail Leases Act 1994, a landlord is within their rights to ask a tenant for a bond or a bank guarantee.

A bond is a security held by the landlord in case of unpaid money or unperformed obligations during or at the end of the lease.

A bank guarantee is often provided as an alternative security to a cash bond. Banks issue bank guarantees, under which they guarantee a landlord that a tenant will perform according to the terms of the lease. Usually, if the landlord requests the issuing bank to pay money under the guarantee, then the bank must do so, regardless of the merits of the landlord’s claims.

Under a retail lease, can a landlord be given the right to relocate a tenant’s premises or terminate the lease early?

Under the Retail Leases Act 1994, a retail lease may contain a relocation clause, provided the landlord gives you at least three months’ notice, in writing, of the move. The landlord is obliged to pay the reasonable cost of your relocation.

The legislation also permits a retail lease to contain a demolition clause, enabling the landlord to end the retail lease if they require the shop to be vacated for the works. The landlord must give at least six months’ notice that the lease will need to be terminated because of demolition. During the six-month notice period, you can end the lease with seven days’ written notice.

The is always a risk that landlords exercising their rights under a relocation clause will lead to substantial financial loss for a tenant. As a result, you should not sign a lease containing such clauses without seeking both legal and financial advice.

Can a landlord refuse permission to assign a lease?

A landlord can insist that their prior consent is required for you to assign a lease.

However, a landlord is accorded only very limited grounds on which to refuse such consent, provided you comply with the procedures set out in the Retail Leases Act 1994 for applying for the landlord’s consent.

What is an option to renew a retail lease?

It can be a good idea to ensure that you have an option to renew your retail lease on expiry of the existing term.

If you have an option to renew, the landlord will be obliged to provide you with a new lease on the terms required by the option.

If you don’t have an option, then the landlord is not required to offer you a new retail lease, nor are you required to accept a new retail lease.