A modern regulatory framework for retail leasing that is fair, and provides certainty for both tenants and landlords, is one step closer following the passing of the Retail Leases Bill 2022 through the House of Assembly.
This is the first major update of retail leasing regulation in Tasmania since 1998, and sets out processes relating to retail leases, the rights of tenants, and complaint and dispute resolution processes.
The legislation is the result of a comprehensive review, including a Discussion Paper and two separate rounds of public consultation, with key features including:
- requirements for detailed disclosure documents to be exchanged between the parties prior to entering into a retail lease;
- provisions to determine the way rent is to be adjusted or calculated;
- specific provisions for retail premises within shopping centres, including a prohibition of termination of lease due to insufficient sales; and
- low-cost and accessible dispute resolution via mediation.
The passing of the Bill will ensure our laws provide an appropriate retail lease regulatory framework for the benefit of all parties to retail lease arrangements.
As I am always prepared to do, based on working extensively with and being provided feedback from key stakeholders, a number of amendments on the floor were pursued to ensure the Bill can operate fairly, as intended. Therefore, it is disappointing, although sadly not surprising, that Jen Butler has chosen to play politics with this approach.
I now look forward to the Bill’s passage through the Upper House.
