The Retail Leases Act 1994 has recently been amended. The Act is the legislation that regulates the commercial relationship between landlords and tenants of small to medium sized retail businesses.

The NSW Government developed the amendments to the Act in partnership with representatives from the retail leasing industry and professionals to keep the Act in step with the changing retail market place.

The changes have been designed to be simple, transparent and easy to comply with. The aim is to make sure that both parties in a shop lease are better informed about what the lease requires of them, which will lead to better business

The Retail Leases Act

The Retail Leases Act 1994 (NSW) requires all retail lease security bonds to be deposited with the Director-General

The Retail Leases Act 1994 (NSW) requires all retail lease security bonds to be deposited with the Director-General.

Bank guarantees are not affected by the operation of the Act.

The deadline of 1 April 2006 has passed for depositing cash security bonds held at 1 January 2006.

Any landlords (or agents) that have not yet submitted their cash bonds need to do so promptly.

Landlord (or agents) may be liable for a penalty of up to $2,200 if they do not comply.

From 1 May 2006, all residential accommodation across NSW must have at least one working smoke alarm.

This includes rental properties, owner occupied and temporary accommodation.

Several Fair Trading laws and regulations have been revised as a result of the new smoke alarm laws and a fact sheet summarising these changes has been produced.

Landlords, tenants, owners and residents of residential parks, strata scheme lot owners and operators of retirement villages should go to Smoke alarms and residential premises for more information.

For more information about the type, location and number of smoke alarms that are required to be fitted to the various classes of residential premises, contact:

NSW Fire Brigades
www.fire.nsw.gov.au/community/athome/smokealarms/

Department of Planning
Tel. 1300 858 812 (9am to 5pm, Monday - Friday)
www.planning.nsw.gov.au/smokealarms/index.asp

* SOURCE: NSW office of fair trading