Draft Or Review Heads Of Terms For A Lease Deal

Usually when the main commercial points have been discussed but the parties are not yet ready for the full lease. Heads of terms can record the proposed rent, term, options, incentives, permitted use, fit-out position and other key points in one document, which gives the later lease drafting a clearer starting point. That can be especially useful where negotiations have happened across calls and emails and the deal needs to be pulled into one written record. It is an early-stage document, but it can still have a big influence on what happens next.

It commonly covers the commercial framework of the proposed lease, such as rent, outgoings, lease length, renewal rights, occupancy arrangements, fit-out contributions, exclusivity, assignment or subletting, incentives and any special landlord conditions. If we are reviewing an existing draft, we look at whether those points are expressed clearly and whether anything important has been left out. If we are drafting one, we structure the document around the deal you want recorded and flag any open items that should be settled before the lease is prepared.

The answer usually turns on the premises, the intended use, the role you are acting in and how much of the commercial deal has already been agreed. It also matters whether the arrangement includes non-standard features such as staged possession, fit-out works, relocation rights, exclusivity, landlord approvals or flexible assignment rights. Those details shape both the wording and the level of detail needed in the document. A short term sheet can still create confusion later if the real commercial arrangement is more complex than the drafting suggests.

Sometimes a template is a decent starting point, but it often stays too generic for the actual transaction. Templates may miss deal-specific points, use broad wording that leaves room for disagreement, or fail to reflect how the parties expect the arrangement to work in practice. That becomes more important when the lease involves incentives, unusual occupancy rights, special use restrictions or multiple approval steps. Legal input can help turn a rough summary into a more usable document that supports the next stage of the lease process rather than creating avoidable ambiguity.

That depends on whether you need a fresh draft or a review of an existing document, and on how settled the commercial terms already are. Once we receive your instructions and any draft materials, we complete the document work and provide written advice on the main issues identified. If there are unresolved commercial points, we can flag those so you know what still needs to be agreed before the lease is drafted. Any broader negotiation support or later lease work would sit outside this fixed-fee service and can be scoped separately if needed.

As an online law firm, we eliminate the headaches of paying us by the hour and finding time to meet with a lawyer in person. We charge a fixed fee, with upfront quotes and transparent pricing, and communicate via phone, email and video chat - whichever suits you! You'll be guided through our process by our expert lawyers, who are Australian-qualified and specialise in technology, intellectual property, contract drafting, corporate and commercial law.

At Sprintlaw, our pricing is transparent and designed for startups and small businesses. Many one-off legal services, including document drafting and reviews, are provided for a fixed fee with an upfront quote before you proceed.

Prices typically range from $250 to $2,500 AUD depending on the complexity and scope of the work. For ongoing support, Sprintlaw Memberships include options such as legal templates, consultations, a legal helpline and credits for services.

If your project is larger or more complex, we will provide a tailored quote after understanding what you need.

Our law firm operates completely online, which means we can help you wherever you are in Australia. We work at The Commons Central - a cool co-working space in Chippendale, Sydney - but our lawyers often work flexibly across various locations.

Our lawyers also work from co-working spaces and home offices in Sydney, Melbourne, Brisbane, Adelaide and Perth, so clients can get help online without needing to meet in person.