Retail Leases Act Review

On 21 February 2017, Deputy Premier and Minister for Small Business, John Barilaro announced that the Retail Leases Amendment (Review) Bill 2016 was passed which will result in significant changes to the Retail Leases Act 1994 from 1 July 2017.

The Bill amends the Act to:

  • increase transparency and certainty of the deal during the negotiation stage to ensure landlords must disclose all costs in some detail before the tenant is bound to the lease
  • introduce or improve fair protections including returning bank guarantees, registration of leases and returning executed copies of the lease
  • increase operational efficiency by simplifying the process of transferring a retail lease and clarifying existing provisions.

Amendments to the Retail Leases Act FactsheetAs a result of the changes, a Retail Code of Industry Practice will be developed and negotiated by industry to address information asymmetry and encourage the reporting of sales and occupancy costs. Signatories to the Code will represent parties to retail leases inside large shopping centres in order to increase the sharing of information between landlords and tenants.

Download Amendments to the Retail Leases Act (Factsheet)

Read the summary of changes

Read the frequently asked questions (FAQs) for small business owners