When should rent be paid? Most commercial leases require rent to be paid monthly in advance on the anniversary of the commencement date. Most leases also allow for interest to be charged by the lessor if rent falls more than 14 days behind. Fitzpatricks Commercial will email a monthly tenant invoice which states the rent period, amount due and date due.
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What does my Insurance Certificate of Currency need to include? We ask that the following be noted on the Certificate of Currency: Certificate of Currency must include the following details: Situation of risk – this is the address of the property as per your lease agreement, Party Insured – this is the lessee as per your lease agreement, Interested party – the lessor as per …
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Do I have to take out public liability insurance? Common in most commercial leases and when leasing through Fitzpatricks Commercial, all tenants are required to hold a minimum $20 million dollar public liability insurance policy. Depending on the premises you may also be required to also hold a plate glass insurance policy.
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Do I have to pay outgoings? Each property is different. Some properties will be advertised as Net Leases where the tenant pays these outgoings while under a gross lease the lessee just pays the rental and the landlord pays the outgoings. All is negotiable at the time of entering the lease agreement.
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What are outgoings? Outgoings are costs incurred by the Lessor in relation to the premises. Outgoings can include the following: Local council rates and charges Land tax Water availability and consumption Sewer/ trade waste Insurance Owns corporation levies/ contributions Click here to read about paying for outgoings?
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