Disclosure Statement – is a statement required by South Australian retail tenancy legislation. It is given by the Landlord to the Tenant. It contains important details about the premises, the estimated outgoings, Tenant fitout requirements and shopping centre details. It must be given to a Tenant before a formal lease is signed. Please see our FAQs for further information.
Fitout – is not a precise term but generally refers to interior furnishings. What is considered part of the Tenant’s fitout will vary. A fitout usually includes counters, shelves, display areas, painting and decorating.
- rates and taxes including land taxes;
- levies and charges under strata or community title legislation;
- gardening and landscaping;
- management, administration and marketing;
- supplying, maintaining, repairing and replacing services;
- building maintenance.
Land tax is not recoverable from a tenant if the Retail Tenancy Legislation applies.
- at least five of the premises are retail shops; and
- the premises are all owned by the same person, or have the same lessor or the same head lessor; and
- the premises are located in the one building or in two or more buildings that are either adjoining or separated only by common areas or other areas owned by the owner of the premises; and
- the cluster of premises is promoted as, or generally regarded as constituting, a shopping centre, shopping mall, shopping court or shopping arcade.
Security bond/Security deposit – a lease might require a Tenant to pay a sum of money as security against default. If a Tenant has carried out all of its obligations under the Lease this will be returned to the Tenant. The retail tenancy legislation fixes a maximum amount for the bond or deposit. Please see our FAQs for further information.