Lease changes to create fairer relationships

Guild NSW Branch president Rick Samimi has highlighted the benefits of changes to the state’s retail leases act in his President’s Desk letter

Writing to NSW Guild members, Mr Samimi pointed out that the Pharmacy Guild was part of the consortium that “lobbied hard” for changes to be made to the NSW Retail Leases Act.

These “significant” changes, which were passed in an Amendment Bill late last month, will have the effect of “creating stronger and fairer relationships between tenants and landlords and including the removal of the minimum five-year term for retail shop leases,” Mr Samimi writes.

He quoted Deputy Premier and Minister for Small Business, John Barilaro, who said the updated Act is aimed at bringing the “greatest transparency, certainty and fairness between our retail businesses and landlords”.

Mr Barilaro said the new amendments will deliver:

  • increased transparency and certainty about lease deals during negotiations;
  • improved protections including the return of bank guarantees and registration of leases; and
  • simplifying the process of transferring a retail lease.

“As a government, we are supporting businesses and getting out of the way by reducing red tape, simplifying the costs of leasing and ensuring transparent compliance costs for businesses, both large and small,” Mr Barilaro said.

Mr Samimi invites Guild members who have further questions to visit and seek free advice from a Pharmacy Guild consultant.

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