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Leasing Property
Stacks/the Law Firm can provide advice and assistance in relation to the leasing of property.
Residential leasing
When you lease a residential property you will generally go through a real estate agent. A Stacks/The Law Firm conveyancer can explain the terms of the lease to you.
Please click here to access some information we have put together to help you understand the residential leasing process.
Rural Leasing
A rural lease is basically an agreement that allows a tenant to hire or rent land for a fixed period of time. The tenant has exclusive possession of the land, and receives all of the income derived from working off the land. Usually, the landlord will own the land, buildings and fences, and be responsible for paying rates, insurance on fixed assets, and repairs. The tenant will generally supply their own machinery, labour and livestock, and cover all of the operating costs.
In order to reduce the risk of a dispute and protect the interests of landlord and tenant, it is important that the agreement be in written form. Rural leases typically run from three to five years and can be registered with the Department of Lands. The lease agreement should clearly show the duties and obligations of the tenant and landlord, such as stating a maximum crop area, or who is responsible for the control of noxious weeds.
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Stacks/The Law Firm can assist you with all aspects of rural leasing, including negotiating the terms of the agreement, drafting the agreement, and answering any questions that you have. Our Murwillumbah and Tweed Heads offices have particular expertise in handling livestock, sugar cane and banana farm leases, and also handle a considerable number of "sharefarming" agreements.
Sharefarming agreements
This differs from a rural lease in that exclusive possession is generally not given to the sharefarmer but instead they operate the farm more as a licensee and the landowner and the sharefarmer share the profits/produce from the farm. The financial split will depend on the terms of the agreement.
Share agreements must be put in writing and signed by both parties. This is an important safeguard in the event of future disputes. The agreement should clearly show who provides what in the way of assets (eg.money), the obligations of each party, the financial split of the income, and details about the operations and management of the farm.
Stacks/The Law Firm can help you to negotiate the terms and draft the agreement.
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