Legal Project Management Plan & Checklist
Purpose of this Guide: Use this fork when an existing retail tenant in Victoria wants to exercise an option to renew their lease. This fork applies when the initial lease term is approaching expiry and the tenant wishes to continue occupying the premises for the option term. Open this fork when the PMS triggers the option exercise window alert, or when the client contacts you about renewal.
Jurisdiction: Victoria. Option exercise under the (VIC) s28. The landlord must provide a renewal disclosure statement under Schedule 3 of the Retail Leases Regulations 2023. After the tenant exercises the option, a 14-day cooling-off period applies under s28B.
| Field | Token | Type | Required | Defined in |
|---|---|---|---|---|
| Matter(4) | ||||
| Matter numberⓘ | matter.matterNumber | text | Required | |
The Process at a Glance: Confirm the landlord has provided the mandatory s28 notice (including the first-year renewal rent and information about cooling-off rights). Check whether the landlord's proposed renewal rent is acceptable. If the client wishes to proceed, serve a formal written notice exercising the option before the deadline. A 14-day cooling-off period then applies during which the tenant may withdraw if they have not requested an early rent review. Once the cooling-off period expires, negotiate the formal renewal lease documentation with the landlord's solicitor. Ensure the new Disclosure Statement (Schedule 3) is provided and reviewed.
Key Legislation and Case Law: Retail Leases Act 2003 (VIC) - s28 (landlord notice obligation, 3 months before last exercise date, including first year rent and cooling-off information); s28A (tenant may request early market rent review in lieu of accepting landlord's proposed rent); s28B (14-day cooling-off period after option exercise - tenant may withdraw unless they have requested an early rent review); Schedule 3 Retail Leases Regulations 2023 (renewal disclosure form). Dispute pathway: If the parties cannot agree on renewal rent, the VSBC provides mandatory mediation before any VCAT referral.
* Disclaimer: We're nobody's lawyer, because we aren't lawyers. You are, so you know better than to take legal advice from an app. We also aren't accountants or dog trainers - just digital spirit guides taking zero liability for any of this. This site exists to gather the collective knowledge of practitioners like you. Verify everything and submit your feedback on the Retail Lease (Tenant) - Option Exercise and Lease Renewal matter plan to improve the playbook. THIS IS NOT LEGAL ADVICE, it's a request for input.
This legal matter plan provides a structured workflow for Real Estate cases, outlining the standard TRANSACTIONAL process. Utilize these tracking templates to manage your legal cases efficiently.
inheritedmatter-core |
| Matter title | matter.title | text | - | inheritedmatter-core |
| Matter typeⓘ | matter.matterType | text | - | inheritedmatter-core |
| Matter status | matter.status | text | - | inheritedmatter-core |
| Client(1) | ||||
| Client name | matter.clientName | text | Required | inheritedmatter-core |
Confirm client's intention to renew and verify the exercise window.
Validly exercise the option within the permitted window.
Complete the renewal documentation and commence the new lease term.
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