NSW retailers and their landlords are being urged to act now to beat an April 1 deadline on the lodgement of cash bonds under the State Government's new retail lease bond scheme.
The bond scheme will benefit both landlords and tenants by saving time, reducing disputes and providing security for retail lease cash bonds which will be held by the Government as an independent umpire.
Minister for Small Business David Campbell said the bond scheme was among improved measures introduced under recent amendments to the Retail Leases Act to make it easier for NSW retailers and landlords to do business.
"A range of new types of retail business, from internet cafes to nail bars and pet grooming salons, are now covered by the Act for the first time, ensuring they get the protections other retailers enjoy," he said.
"Improved disclosure rules will also make the rights of retailers and landlords clearer before they sign a lease, again making business easier."
Pet grooming salon owner Angela Christou, of Wagging Tails Professional Stylists in Petersham, welcomed the changes, including the bond scheme’s security and clearer rules about lease conditions and associated costs.
"It’s important that both retailers and landlords are clear about the full details of a shop lease up-front to avoid later misunderstandings, which can prove expensive and damaging to a small business," Ms Christou said.
It is a simple procedure to obtain and lodge your bond form. The best way is to email the NSW Government's Retail Tenancy Unit at rtu@business.nsw.gov.au stating the number of forms you need and your postal address.
Bond forms, which are free, can also be ordered by phoning the Retail Tenancy Unit on 1300 79 55 34. More information is available at www.retail.nsw.gov.au