LJH Commercial

ANNUAL ADJUSTMENTS If your lease is a NET lease, at the end of each financial year the budgeted outgoings for the property (i.e. expenses) will be reconciled against the ‘actual’. If there is a variation in outgoings due to a change in costs throughout the year, a credit will be given for the forwarding year. Alternatively, if there is a shortfall, you will be invoiced for the shortfall. At this time a new budget will be adopted for the following year. Any shortfall will be due and payable within the month of the new financial year. PAYMENT OPTIONS Our preferred option is electronic transfer into our nominated trust acccount. A GROSS lease means outgoings are included in your rent. Your outgoings are only your direct business costs (i.e. electricity, water usage, business insurance etc) unless your lease states otherwise. INSURANCE It is a condition of the lease that Public Liability policies must be in place during your tenancy with the ‘Certificate of Currencies’ provided to LJ Hooker Commercial Central Coast prior to the renewal date. Plate glass insurance policies (if applicable) should be renewed at the same time as your Public Liability. Your policy must include the address of the property along with the Lessor’s name as the interested party. Failure to supply your Certificate of Currency is a breach of lease and can lead to termination of your lease. 07 LJ Hooker Commercial Central Coast PAGE