Changes to the Retail Leases Act 1994 (NSW) (RLA NSW) have come into force from 1 July 2017, following a quiet 13-year period without any amendments to the act. Both landlords and tenants of retail premises in New South Wales will be impacted – here are some key changes they must know.
A lessee's liability for outgoings will be limited to those disclosed in the lessor disclosure statement.
If an estimate is given without a reasonable basis, then the lessee's liability will be limited by reference to the estimate. Advertising and promotion costs are not outgoings for this purpose and taxes or levies imposed by legislation after the disclosure is given are excluded.
SBS program have more information of this changes.
