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Company Let Agreement for Australia

Company Let Agreement Template for Australia

A Company Let Agreement is a comprehensive commercial lease agreement used in Australia between corporate entities for the letting of commercial property. This document governs the relationship between a company landlord and a company tenant, incorporating Australian commercial property law requirements and state-specific regulations. It covers essential aspects such as rent, maintenance obligations, permitted use, insurance requirements, and other commercial terms while ensuring compliance with Australian corporate and property legislation. The agreement includes provisions for GST, security arrangements, and other specific requirements of Australian commercial leasing practice.

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What is a Company Let Agreement?

The Company Let Agreement is a specialized commercial lease document designed for use in the Australian market where both the landlord and tenant are corporate entities. This agreement is particularly relevant when businesses seek to establish formal leasing arrangements for commercial premises, whether for office space, retail locations, warehouses, or other commercial purposes. The document incorporates essential elements required under Australian corporate and property law, including compliance with the Corporations Act 2001 (Cth) and relevant state-specific commercial tenancy legislation. It provides comprehensive coverage of commercial terms, obligations, and protections for both parties, including specific provisions for rent review, maintenance, insurance, and security arrangements. The agreement is structured to accommodate various commercial scenarios while ensuring enforceability and compliance with Australian legal requirements.

What sections should be included in a Company Let Agreement?

1. Parties: Identification of the landlord company and tenant company, including ACN/ABN and registered addresses

2. Background: Context of the agreement, including property ownership and intention to create lease

3. Definitions and Interpretation: Defined terms and interpretation rules used throughout the agreement

4. Grant of Lease: Core terms of the lease grant, including premises description and term

5. Rent and Other Payments: Rent amount, payment terms, outgoings, and other financial obligations

6. Rent Review: Mechanisms and timing for periodic rent reviews

7. Security Deposit/Bank Guarantee: Details of security required and conditions for return

8. Use of Premises: Permitted use and restrictions on use of the premises

9. Maintenance and Repairs: Responsibilities for maintaining and repairing different aspects of the premises

10. Insurance: Required insurance coverage for both parties

11. Assignment and Subletting: Conditions under which the tenant may assign or sublet the premises

12. Landlord's Covenants: Obligations and promises of the landlord

13. Tenant's Covenants: Obligations and promises of the tenant

14. Default and Termination: Events of default and consequences, termination rights

15. Damage and Destruction: Rights and obligations in case of damage to premises

16. Notices: How formal notices must be given between parties

17. GST: GST treatment of payments under the lease

18. General Provisions: Standard boilerplate clauses including governing law, entire agreement, etc.

19. Execution: Formal execution blocks for both parties

What sections are optional to include in a Company Let Agreement?

1. Option to Renew: Terms for lease renewal, used when offering renewal options

2. Make Good: Detailed premises restoration obligations, used for premises requiring specific restoration

3. Incentives: Details of any rent-free periods or other incentives, used when offering lease incentives

4. Environmental Matters: Environmental obligations and compliance, used for properties with environmental sensitivities

5. Building Management: Building rules and management, used for multi-tenanted buildings

6. Guarantee: Personal or corporate guarantees, used when additional security is required

7. Break Clause: Early termination rights, used when early termination might be needed

8. Fit-out Works: Terms for initial tenant fit-out, used for premises requiring substantial work

9. Car Parking: Car parking rights and obligations, used when parking is included

10. Naming Rights: Building naming or signage rights, used for major tenants

What schedules should be included in a Company Let Agreement?

1. Schedule 1 - Premises Plan: Detailed plan showing the leased premises and common areas

2. Schedule 2 - Lease Particulars: Key commercial terms including rent, term, commencement date

3. Schedule 3 - Special Conditions: Any special or negotiated conditions specific to this lease

4. Schedule 4 - Building Rules: Rules governing conduct and use of the building

5. Schedule 5 - Outgoings: Detailed list of outgoings and payment responsibilities

6. Schedule 6 - Fit-out Specifications: Technical specifications for any permitted fit-out works

7. Schedule 7 - Guarantee Deed: Form of guarantee if required

8. Appendix A - Condition Report: Initial condition report of the premises

9. Appendix B - Essential Safety Measures: List of safety measures and maintenance requirements

10. Appendix C - Environmental Performance: Environmental ratings and obligations if applicable

Authors

Alex Denne

Head of Growth (Open Source Law) @ Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Australia

Publisher

Ƶ

Document Type

Agreement Contract

Cost

Free to use
Relevant legal definitions



















































Clauses








































Relevant Industries

Commercial Real Estate

Retail

Professional Services

Manufacturing

Technology

Healthcare

Financial Services

Hospitality

Logistics and Warehousing

Education

Construction

Media and Entertainment

Relevant Teams

Legal

Property Management

Facilities Management

Operations

Finance

Risk and Compliance

Real Estate

Corporate Services

Administration

Business Development

Relevant Roles

Property Manager

Facilities Manager

Legal Counsel

Corporate Lawyer

Real Estate Manager

Operations Director

Chief Financial Officer

Commercial Director

Asset Manager

Leasing Manager

Company Secretary

Risk Manager

Compliance Officer

Business Development Manager

Property Development Manager

Industries









Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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