Management

3terms of 3 would be 3+3+3 or 9years), where it is the renter’s choice of whether to renew at the end of each term.

5. Relocation or demolition clauses

These clauses are not in most leases. Where they exist, theygive the landlord the right to either relocate you to another premise (relocation),or terminate your lease if they are going to redevelop the site (demolition).

These clauses will specify the notice period you will have for relocation and termination and whether the tenant will get any kind of assistance or compensation for the inconvenience.

The Impact of 4–5

Businesses such as veterinary practices are difficult to move for two reasons:

■ the loyalty of clients/patients is often based upon geography and convenience and moving a practice can lead to patient attrition.

■ Council zoning and complex fit outs make finding a suitable space for relocation difficult and doing the relocation expensive and time consuming.

As such, practices that have a higher risk of needing To page 30