- Property Law
- Aylward Game Solicitors
- No Comments
- July 29, 2014
Commercial Properties Selling or Leasing
For any Commercial Property Owners who are planning to sell or sublease their Commercial premises it is important to ensure that you remember to comply with the requirements of the Building Energy Efficiency Disclosure Act as the penalties for non-compliance can include fines of up to $170,000.00.
The Act applies to Commercial office buildings which are used for administrative, professional or clerical activities, which are for sale, lease or sub lease and if it has a net lettable area that is greater than 2000sqm.
There are some exemptions, for instance; short term leases of less than 12 months, Strata Titled buildings or new buildings but generally for a lease or sale of a Commercial Office Building the vendor or landlord needs to obtain a Building Energy Efficiency Certificate, prior to marketing the property for lease or sale.
The Certificates need to be obtained from an Assessor who is accredited under the Commercial Building Disclosure Programme.