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Category : Blog
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Commercial property exists in all States and Territories of Australia. Commercial properties are used by businesses, organisations and other associations to conduct their business, commercial project, corporate affairs and activities. Unlike residential properties which house individuals, couples and families, commercial properties house business owners, employers, employees, contractors and volunteers.
Commercial properties are located throughout the various urban and regional areas of Australia because there is no one location to conduct business. Whether you operate an office, warehouse, production facility, manufacturing plant or other like facility or space, you will need to acquire or lease commercial property. Commercial properties differ in size, features and cost and it is important to check the lease terms to ensure the arrangement suits your needs and requirements.
Understand the difference between Leasing and renting
Often, the terms lease and rent are used interchangeably. However, there is an important and subtle difference. Before we explain the difference, it is important to ensure that when you are entering into an arrangement with an owner or landlord, make sure you check the agreement terms and conditions and have them reviewed by a qualified legal professional.
Renting refers to a tenant or occupier using space that is owned by a landlord or owner. Leasing refers to a landlord or owner making space available to a tenant or occupier. Both renting and leasing are terms used on either side of the same coin. In summary, a tenant rents commercial property that is being leased by a landlord. Although these terms are blended during conversation, it is important to be aware of this difference and check that the owner or landlord does have title to the commercial property and the rights to lease the commercial property to third parties.
Commercial Property Leasing and Renting Experts
At National Retail Group, we have a team of commercial property renting and leasing experts. Our qualified and skilled team are familiar with the commercial property markets in Australia and can help both tenants and landlords engage with commercial property in accordance with their needs and requirements. We manage a diverse portfolio of commercial properties and are well-equipped to serve landlords and tenants with exceptional services. For more information, call the team on 0418 662 415.
June 17, 2021