Variation to Deed of Lease

[Greenfields]

Hello Everyone,

We need to make a variation to the existing Deed of Lease.

Due to our property being partially occupied, the current tenant would like to utilise more of the yard space. So we would like too:

1. Increase the annual rent
2. Increase the available leased area
3. Should another tenant lease office space, the above terms are subject for review

Are we able to keep it simple and use a covering letter stating the variation, or is this best done through a lawyer?

Thanks GF

[Davo36]

I reckon it depends on the dollar amount. If it's lower than say $40k just do it yourself.

If it's over, get a lawyer.

The reason I say this, is that no piece of paper really protects you, they can always just pack up their stuff and bugger off leaving you to chase them through the courts.

And if it's a smaller amount of money they owe you it's simply not economical to chase them. But if it's lots of money then it is.

[Greenfields]

I reckon it depends on the dollar amount. If it's lower than say $40k just do it yourself.

If it's over, get a lawyer.

The reason I say this, is that no piece of paper really protects you, they can always just pack up their stuff and bugger off leaving you to chase them through the courts.

And if it's a smaller amount of money they owe you it's simply not economical to chase them. But if it's lots of money then it is.

Good point Davo! I'll do it myself, cheers.

[Beano]

Its quite easy to do yourself ...read a few existing variations ..you will soon work out the logic