Lease plans are an essential aspect of any property transaction involving rentals. These rentals can be commercial, residential, or industrial. The only difference is how complex the plans are and how many tenants they apply to.
If the plans for any properties on a parcel of land are inaccurate, this can create severe problems for the lease. It can hinder any plans to renovate or develop the properties further. It is why upfront lease surveys exist, where projects will be drawn up due to the observations taken by a qualified land surveyor.
When you hire ARP Surveyors to survey a property to draw up lease plans, the goal is to ascertain the lettable area of the building. We then use this data with a Certificate of Title to register the lease.
These plans help ensure tenants and landlords understand the lease agreement of the properties they collaborate on. It is helpful in industrial and commercial contexts where lease arrangements are often more complex.
Three main types of lettable areas are relevant for drawing up lease plans and depend on land use.
First, there’s the Gross Lettable Area for industrial facilities like supermarkets and warehouses. Then, there’s the Net Lettable Area for offices and residential tenancies. Finally, a particular Gross Lettable Area standard will be applied to retail outlets, like shopping centres.
Working out how to apply the relevant one to your lease survey, and make the appropriate calculations, falls under the responsibility of your surveyor. It is because even when you’re sure that you know the type that your property falls under, you’ll still need to conduct the survey.
At this stage, you and any tenants in buildings you own must agree on the method used to conduct a lease survey and draw up lease plans. This way, there are no disputes further down the line.
It is wise to have a tenant lease plan by the surveyor. You’ll need more than agreeing with tenants on a lettable area measurement for a lease plan. You’ll need to have your property surveyed because each one is different.
Yours could fall under unique circumstances requiring a specialist approach. Only a registered surveyor will know how to move forward if this is the case. He will help you get the desired results at the end of the process. Once done, file the lease plan at the Land Titles Office. Once this has taken place, the lease registration can move forward.
If you want a surveyor lease plan for any building you own, take the consent of your tenants for the lettable area measurement. You should then contact us today to take the next step forward. We provide the best services for lease plans in southwestern Sydney. You can email us at info@arpsurveyors.com.au or phone us at +0422 816 957.
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