The South Australian government has launched a new guide to help tenants and lessors understand key issues when entering retail and commercial property leases.

“Taking a retail or commercial lease is probably one of the biggest financial commitments a business can make and you need to be sure that you fully understand your rights, entitlements and risks,”said Minister for Small Business, Martin Hamilton-Smith.

Hamilton-Smith said in the 2014/15 financial year, the Office of the Small Business Commissioner received 1,165 enquiries relating to these issues.

The new guidelines will address the questions landlords and tenants have about their rights and obligations under the Retail and Commercial Leases Act 1995, the government stated in a news release.

The guidelines include information on signing the lease, lease documentation, lease term, rental matters, condition of the premises, permitted use/exclusivity, sub-leasing, relocation, and demolition and a detailed checklist for lessees and lessors.

Small Business commissioner, John Chapman, said in the last 12 months his office has undertaken consultation with stakeholder groups who have provided considered contributions on the contents of the Guide.

“The input from various groups which deal with the Act on a daily basis has been essential to our efforts to produce a document which is simple and straight forward,” said Chapman.

The Law Society, Business SA, the Shopping Centre Council of Australia and the Retail Shop Leases Committee were among those who provided comments on the document.

Want more Inside Retail? Subscribe to Inside Retail Weekly now and get our premium print publication delivered to your door every week.