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It’s likely that your business has heard of or come across Lease Agreements, which allows you to use certain premises for your business. This might involve shared office spaces, movable homes or holiday rentals. However, it’s not the best arrangement for everyone.
So, a flexible alternative to a lease agreement is a Property Licence Agreement. This allows you to access property on certain agreed terms.
What Is The Difference Between A Property Licence Agreement And A Lease Agreement?
You might be wondering, ‘What makes a Property Licence Agreement different to a Lease Agreement?’
Well, the answer here is relatively simple. A licence agreement is more flexible than a lease agreement. It can easily be varied and terminated, and isn’t subject to as many regulations as a lease.
However, this comes at a cost. It also means as the licensee, your right to the property isn’t as strong as if you were under a lease.
So, before you decide which option to go with, it’s important to think about the degree of flexibility you’re after and your ability to enforce the agreement if issues were to arise.
It also means you need to carefully draft the right Property Licence Agreement so that your rights and obligations are clear for all parties.
Where Can I Get A Property Licence Agreement?
At Sprintlaw, we offer a Property Licence Agreement package that has you covered if you want to license property. It includes:
- A Property Licence Agreement tailored to your needs
- Phone consultations with one of our expert lawyers who can answer your questions
- A complimentary amendment to the final draft we provide to you
Next Steps
Having the right agreements in place is crucial to any business activity or set up process. This ensures that you’re covered and protected in case things go wrong, and clears up any ambiguity around parties’ roles and responsibilities depending on the arrangement you’d like.
If you need help, Sprintlaw has a team of lawyers who are ready to assist you with a Property Licence Agreement. If you would like a consultation on your options going forward, you can reach us at 1800 730 617 or team@sprintlaw.com.au for a free, no-obligations chat.
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