About Product
A written commercial lease is required where parties, including related parties such as SMSFs, Discretionary Trusts and companies are leasing property to a third or related party.
Can this document be digitally signed?
YES. In line with current legislation, our legal partner TGA Legal have advised that digital signatures are legally binding on this document. (Note: Integration with HelloSign coming soon to Lightyear Docs).
General Information
The LightYear Docs Commercial Lease Agreement is a general lease agreement and covers all the major terms such as lease payments, outgoings to be met by the lessee, term of the lease, three optional extension of leases, dates the options are to expire and even includes a guarantee.
Prepared and provided by TGA Legal Pty Ltd it is the best and most forward looking in its class.
Benefits
- Comprehensive lease
- Perfect and vital for related party transactions
- Compliant with the superannuation, taxation and real estate laws
- Signed off by TGA Legal
- Includes up to three options for the lessee to extend the term of the lease for periods decided by the lessor
- Lessor can seek personal and business guarantee from the lessee
Frequently Asked Legal Questions
Can I get a sample of this document?
Yes, please email support@lightyeardocs.com.au to request a sample document for you to review.
Can I use this Commercial Lease for a lease of SMSF business real property to a related discretionary trust?
A written lease is required where a SMSF leases any property to a third or a related party.
Can the lease term be extended?
The lessor and the lessee can extend the lease up to three times as described in the initial document. How many times and for what terms are to be included in the document.
What are annual increases in rent?
Annual increases are measured by CPI for the city or region where the property the subject of the lease resides.
What outgoings are included?
Amongst other items the following list of typical outgoings the lessee must pay their fair share includes:
- Rates and other charges levied by any law
- Water, garbage and sewerage rates
- Waste disposal costs
- Land Tax
- Insurance premiums payable by the Landlord
- The cost of cleaning any Common Areas that are used by the Tenant
- Garden and maintenance
- Car Park Levies
Is there any training on the LightYear Docs Commercial Lease?
We will soon have Commercial Lease training on www.lightyeardocs.com
Do you have details on the LightYear Docs that I can give my clients?
There are a range of videos and materials available including upgrade notifications and details on the various documents such as the Commercial Lease.
What lawyers sign off on the LightYear Docs Commercial Property Lease Agreement?
All LightYear documents are prepared and signed off by TGA Legal from Melbourne, Sydney and Brisbane.
Is the LightYear Docs Commercial Property Lease Agreement reviewed regularly?
All LightYear Docs documents form part of the LightYear Docs internal document review cycle. All documents are scheduled to be reviewed at least annually or when required to do so due to changes in legislation. The LightYear Docs review cycle ensures all of our documents remain current and accurate.
Can this document be digitally signed?
YES. In line with current legislation, our legal partner TGA Legal have advised that digital signatures are legally binding on this document. (Note: Integration with HelloSign coming soon to Lightyear Docs).
What happens after I purchase this document?
After you purchase this document, you will experience first-hand the power of our assembly engine, HotDocs. An interview session will appear in what is called the HotDocs iFrame. Through the use of the iFrame technology, we are able to create document templates in minutes, versus months of coding through other methods. The iFrame also allows for rapid integrations and documentation to be assembled instantly in "lines" or packs of documents.
Can I edit my document after it has been completed?
Your document will be available to edit from the LightYear Vault for 30 DAYS after you have completed the interview process, at which point it will be locked for future edits. Your completed documents will be listed under "My Vault" from the drop-down menu in the top right-hand corner after you login. This is also where you re-launch an "interview" to make edits within the first 30 DAYS.
Can I save a document to complete later?
Yes, provided you select save, you can exit the interview process at any time. All documents that have been purchased and not yet assembled will be saved under "My In Progress Docs" and are accessible from the drop-down menu in the top right-hand corner after you login. This is also where you re-launch an "interview" to continue the interview process and assemble your document.