Question 1

What is an operating lease?

Accepted Answer

An operating lease is a contractual agreement where the lessor allows the lessee to use a property for a specified period in exchange for regular payments.

Question 2

Is this template adaptable for different types of properties?

Accepted Answer

Yes, it can be customised for various property types, including commercial, industrial, and residential.

Question 3

Can the lease terms be negotiated within this template?

Accepted Answer

The template is designed to accommodate negotiations and alterations to suit specific leasing arrangements.

Question 4

How are disputes handled in this lease agreement?

Accepted Answer

The agreement includes a clause specifying the governing law and jurisdiction, ensuring any disputes are resolved under the laws of the particular state of Australia.

Question 5

Is this template in line with current Australian leasing regulations?

Accepted Answer

Yes, it is crafted to be fully compliant with the latest Australian laws and regulations regarding property leasing.

Question 6

How long does this document take to assemble?

Accepted Answer

Depending on the complexity of the data, this document should take approximately 5-10 secs to assemble. If you experience timing outside of this please contact Support via the Surge app, alternatively please read this article for troubleshooting tips https://info.lightyeardocs.com.au/supportcentre/troubleshooting-longer-assembly-times-timeouts .

Question 7

Is this document a legal document?

Accepted Answer

All master documents have been signed off by LY Legal. Tony Anamourlis of LY Legal advises that “at no time, due to inbuilt legal protection and security measures can a user change or amend a document on the LYD platform that has been signed off by a practicing solicitor. To do so would result in the user drafting a document of a legal nature and engaging in the provision of legal services. In addition, it would be a breach of copyright. In our opinion when completing the form fields through the LYD platform, users and their employees are merely carrying out an administrative task which is not the provision of legal advice.”

However in some complex areas such as the insertion of a varied range of client instructions into a Will or other such documents the user must be mindful of the extent to which a document is being drafted by the user rather than merely the administrative task of completing a form where the relevant fields are inserted into the reviewed and signed legal document provided by LY Legal.

The above advice is born out of numerous cases dating back to Re Sanderson, Ex parte Law Institute of Victoria [1927] VLR 394, 397 where the Court held:

“if a person does a thing usually done by a solicitor, and does it in such a way as to lead to the reasonable inference that he is a solicitor – if he combines professing to be a solicitor with action usually taken by a solicitor – I think he then does act as a solicitor.”

Likewise in ACCC v Murray (2002) 121 FCR 428, 448 where Murray was building a franchise business that involved the legal writing and drafting of Wills from scratch based on the client’s personal circumstances. The Court held that this process was legal work.

Question 8

What lawyers sign off on LYD documents?

Accepted Answer

All LYD documents are prepared and signed off by LY Legal.

Question 9

Is the document easy to read?

Accepted Answer

All LYD products are written in plain English and assessed for readability. If at any time you come across any errors, please contact support@lyd.com.au.

Question 10

Are the LYD documents reviewed regularly?

Accepted Answer

All LYD documents form part of the LYD internal review process. We review all documents at least annually or when required to do so due to changes in legislation. Further details of this process and a review schedule is include on this website.

Question 11

Can I get a sample of this document?

Accepted Answer

Yes, please email support@lyd.com.au to request a sample document for you to review.

Operating Lease Agreement