Introduction

This page has information about signing a lease for a business premises in the Northern Territory (NT). 

A lease is a contract between a landlord and a tenant. 

It sets out the terms and conditions for the tenancy and the rights and obligations of both parties. It is legally enforceable.

A retail lease will describe the premises in detail and all of the following specifies:

  • the formula for calculating rent
  • whether the rent will be reviewed during the lease
  • options for renewing the lease 
  • any contributions you as the tenant may be expected to make to the landlord's expenses
  • what the premises are allowed to be used for.

Retail shop leases 

Before you sign a retail shop lease, the landlord must have a copy of the proposed lease available for your inspection. The landlord must give you a copy as soon as you enter into negotiations concerning the lease.

If the shop is in a shopping centre, it is a good idea to get a plan showing the specific premises to be leased.

Searching for a premises

Before starting your search for a business premises you should do all of the following:

  • research the kind of business you want to run
  • identify where the market for your business is located
  • register a business name with the Territory Business Centre (ph: 1800 193 111)
  • apply for relevant licences and permits with the Territory Business Centre
  • set a budget with advice from your accountant.

Draft lease

Once you start your search for a business premises, inspect several potential sites and compare the pros and cons of each.

When you’ve selected the right premises for your business, you’ll receive a copy of the draft lease.

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Last updated: 13 October 2017