Clear information is a call away
An Assignment of lease is a transfer of the entire lease from an existing tenant to a new tenant.
With a Sub-lease the original or head-lease remains and the tenant grants a subordinate lease of some
or all of the leased space. In the case of assignment, it is important to clarify if the original tenant will
remain liable for any default by the new tenant. The process of obtaining the approval of the lessor is
typically subject to a number of conditions including demonstrating the financial worthiness of the
new tenant. For retail leases in the ACT, this process is regulated by the Leases (Commercial and Retail)
Act as well as by the lease. For such leases, it is mandatory for the tenant seeking to assign the lease or
grant a sub-lease, to supply a copy of the Landlord’s lease disclosure statement.
Leasepro has the knowledge and expertise to assist with lease assignments and sub-leases in Canberra
and A.C.T. We are available across the country for your convenience.
Call 1800 000 000 for our free lease helpline or find contact details for across Australia.