Conveyancing & Property Law
Buying or selling a property is one of the top three most stressful experiences in your life. It’s a big commitment and often the most significant transaction you will make in your lifetime.
What you need most during this time is confidence that you are receiving the right advice at the right price.
Whether you’re buying or selling a property, need advice on a lease, or simply want to transfer a property into your spouse’s name, our property lawyers and conveyancers are here to guide you through the entire process.
Our areas of expertise include
- Residential conveyancing
- Commercial conveyancing
- Retail and Commercial leasing
- Sale and Purchase of Business
- Subdivisions and developments
- Financing and refinancing
- Creation of caveats, covenants and easements
- Removal of caveats, covenants and easements
- Owners Corporation disputes
- Retirement Villages
Articles relating to Conveyancing & Property Law
Retail commercial leasing can be a complex area. Here is Legally Yours’ guide to help you understand the key factors that may affect you and your business when you sign a retail lease.
What is a Retail Lease?
A retail lease is a type of commercial lease that relates to retail premises. Retail leases in Victoria are in most cases governed by the Retail Leases Act 2003 (Vic) (“the Act”).
Is my business covered by the Act?
If your business mainly sells or hires goods or services to the public, then your premises will likely be considered ‘retail premises’ under the Act.
Some examples of ‘retail premises’ are:
1. Cafes and bars
2. Clothes shops
4. Beauty Salons
Some examples of businesses not caught by the Act:
1. If your business is primarily used for wholesaling, manufacturing or storage
2. If your cost of occupancy is more than $1m per year
3. If the term of the lease is less then one year (unless consecutively renewed)
4. You’re a listed corporation or a subsidiary of a listed corporation
5. Your business has been granted an exemption.
In all of these cases your premises are generally not considered ‘retail premises’ and therefore the Act will not apply to your business.
What should the landlord give me before I sign a Retail Lease?
The Act requires the landlord to give the tenant the following:
1. A copy of the proposed lease at least 7 days before you sign the lease
2. A copy of the Victorian Small Business Commissioner Information brochure on retail leases
3. A disclosure statement at lease 7 days before you sign the lease
Once you’ve signed the lease the landlord is required to provide you with a copy of the fully signed lease within 28 days.
If you’re thinking about signing a retail lease and would like a leasing expert to guide you through the process please contact Mira Stammers on 1300 822 708.
Mira Stammers is the CEO of Legally Yours. Mira has extensive experience in corporate law in both Melbourne and London and regularly advises business owners in the areas of corporate and real estate law. Mira has a team of expert lawyers experienced in all areas of law that provide fixed-fee legal advice to businesses across Australia. If you’re looking for an expert leasing lawyer, Mira can help. Email firstname.lastname@example.org
Now that’s a question we’re often asked, and rightly so.
It can be confusing when you’re offered what seems to be the same service by two different professionals.
Basically, every time a property changes hands the process is called conveyancing, and conveyancing can be done by either a solicitor or a conveyancer.
Before you start the conveyancing process it’s important that you understand the differences so you can make an informed decision that suits your risk level and your budget.
To help you do that we’ve put together some information which should make the choice a little easier.
CONVEYANCERS VS SOLICITORS
Generally conveyancers have detailed knowledge in one area of law, being property law.
Solicitors on the other hand have specific knowledge about property law but also broader knowledge of the law in general.
This means that a solicitor can advise their client not only on all aspects of a conveyance, but also on issues that might relate to the conveyance, such as the tax implications of a property transaction, or how the sale of a house might impact their client’s divorce proceedings.
This difference in knowledge and experience is what commonly creates a price difference between conveyancers and solicitors.
The biggest reason people hire a conveyancer over a solicitor is because hiring a conveyancer is often cheaper.
Conveyancers can usually be hired for around $500-$600 plus disbursements, whereas a solicitor may charge $1000 – $1100 plus disbursements.
So it’s possible that hiring a conveyancer over a solicitor could create a saving in the vicinity of about $500.
Hiring a conveyancer may therefore be perfectly suitable should the property value be low, the budget tight or the transaction straightforward.
Don’t forget though that for conveyancers to offer a low price they often have to take on a lot of files to make a profit, so you may not get the same level of service as you would from a solicitor.
When making the choice, consider how important the $500 saving is to you in the context of the transaction. Your home will probably be the biggest asset you’ll ever have.
COMPLEXITY OF THE TRANSACTION
It is important to bare in mind how complex the property transaction is likely to be. The more complex the transaction, the more important it will be to ensure any technical issues, uncertainties or problems that arise can be dealt with swiftly.
If you’ve hired a conveyancer and something goes wrong, they’ll often need to send you off to see a lawyer, in which case you’ll probably end up paying more than you would have had you hired a lawyer to begin with.
The advantage of hiring a solicitor to do your conveyancing is they have extensive legal knowledge in most areas of law, so they’ll be on hand to quickly solve any legal issues that arise during the course of the transaction.
Examples where a transaction is at risk of becoming complicated include off the plan purchases or when a plan of subdivision is required.
WHEN SHOULD I HIRE A CONVEYANCER OR SOLICITOR?
Whether you choose to hire a conveyancer or a solicitor, it is important to hire them at the outset of your transaction.
If you’re selling your property, you need to hire someone when you’ve decided to sell as it can take some time to draft the Contract of Sale and prepare the Vendor’s Statement.
If you’re buying a property, hiring someone before you sign any paperwork is always preferable.
Before bidding or putting in an offer to purchase a property it is advisable that your conveyancer or solicitor reviews the Contract of Sale so they can point out any intricacies about the property and potentially negotiate on your behalf for contract terms that would be favourable to you.
If you’re not quite sure about when to involve a solicitor in the sale or purchase of your property, just give us a call on 1300 822 708 for an obligation free 15 minute conversation about your matter.