reminder: amendments to the retail leases act come into effect on 1 July 2017

A short reminder that the amended Retail Leases Act 2017 (NSW) will commence on 1 July 2017. The key amendments were outlined in our December and February publications, and include:

1. Any payments charged for services provided by a landlord are not classified as outgoings
2. Most online transactions will be removed from the calculation of turnover rent
3. Landlords are prohibited from accessing and reclaiming mortgagee consent fees
4. Authority of the Civil and Administrative Tribunal increased
5. Five-year minimum term for retail shop leases will be removed
6. More onerous responsibilities on lessors in creating a disclosure statement
7. Leases used wholly for certain non-retail purposes will be excluded from the Act
8. New requirements for the return of bank guarantees to lessees

Our earlier articles explain these changes in more detail. Ensure you are prepared for these changes commencing 1 July 2017.