Treasurer Peter Costello launched a Productivity Commission inquiry into retail tenancy leases following concerns expressed by Fran Bailey, Minister for Small Business and Tourism. The federal inquiry comes in response to Minister Bailey’s comment about commercial leases for small business tenants.
"Small business tenants are telling me that they are worried about the difficulties they face when presented with commercial leases over which they feel they have little or no control."
The Commission will report on the structure and functioning of the retail tenancy market, constraints on the market and the relationship between landlords and retail tenants including lease transparency that determines tenant rights and rent prices.
Although tenancy comes under state legislation, Costello says that the inquiry would also examine the inconsistencies between retail tenancy laws in different states and territories and may lead to reform of retail tenancy regulation to improve transparency and competitiveness of the market.
For more details, or to take part in the inquiry, visit the Productivity Commission at www.pc.gov.au or phone 02 6263 3239.
