Leasing a commercial property

This page has information about signing a lease for a business premises in the Northern Territory (NT).

A lease is a contract between a landlord and a tenant.

It sets out the terms and conditions for the tenancy and the rights and obligations of both parties. It is legally enforceable.

A retail lease will describe the premises in detail and all of the following specifies:

• the formula for calculating rent
• whether the rent will be reviewed during the lease
• options for renewing the lease
• any contributions you as the tenant may be expected to make to the landlord's expenses
• what the premises are allowed to be used for.

Retail shop leases

Before you sign a retail shop lease, the landlord must have a copy of the proposed lease available for your inspection. The landlord must give you a copy as soon as you enter into negotiations concerning the lease.

If the shop is in a shopping centre, it is a good idea to get a plan showing the specific premises to be leased.

Searching for a premises

Before starting your search for a business premises you should do all of the following:

• research the kind of business you want to run
• identify where the market for your business is located
• register a business name with the Territory Business Centre (ph: 1800 193 111)
• apply for relevant licences and permits with the Territory Business Centre
• set a budget with advice from your accountant.

Draft lease

Once you start your search for a business premises, inspect several potential sites and compare the pros and cons of each.

When you’ve selected the right premises for your business, you’ll receive a copy of the draft lease.