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As Lease Administrators check the budgeted outgoings for 2010 against the budgeted outgoings for 2009, one major increase in outgoings expenses stands out above all others; namely, the massive increases in land tax in shopping centres recoverable from tenants - particularly in shopping centres in New South Wales and Victoria.
 Whilst Victoria doesn't allow the recovery of land tax from tenants under the Act, the New South Wales legislation certainly does allow such a recovery. However, in Victoria, many well-known public company retail tenants don't fall under the Retail Tenancy legislation - nor do the warehouses and head offices of most retail organisations - but they are all liable for land tax. In Victoria, where land valuation is based on a bi-annual valuation basis, we are now using land values as of 2007 which are probably the highest land values you can have. In addition, the State government removed the cap on increases in land tax not being able to exceed 50% of the previous year's land tax. This has resulted in an outcry from many tenants. More information
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NEW RELEASE: June 2009
Retail Lease Administration e-Book by Hymie Zawatzky
If you have a single store, this e-Book will help you with your
leasing negotiations. If you have multiple stores, this is a MUST HAVE
e-Book.
The proper administration of leases and, in particular, the control of
occupancy costs - which have reached new highs in 2009 for many types
of businesses - is critical for the survival of retailers who operate a
number of stores throughout Australia. The economic downturn and the
desire by retailers to either reduce their occupancy costs or quit
their leases has put even more pressure on lease administrators. Read more
Our Price: $55.00
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