Retail Leases Act 2022

This section only applies if a retail shopping centre imposes advertising, promotion or marketing costs on all of the retail premises in the retail shopping centre.

A retail lease must include a provision detailing all expenditure incurred, or to be incurred, by a landlord on account of advertising, promotion or marketing costs to which the tenant is required to contribute under the retail lease.

A tenant is not required to make a payment to the landlord for advertising, promotion or marketing costs incurred, or to be incurred, by a landlord unless details of those costs are specified in both the landlord’s disclosure statement and the retail lease.

A retail lease is taken to include a provision that an amount that is – contributed in respect of a specified period under a retail lease, by a tenant in the retail shopping centre in which the retail premises are located, in respect of the landlord’s advertising, promotion or marketing costs; and not spent during that period in respect of those costs – must be carried forward by the landlord to be applied towards any future expenditure on advertising, promotion or marketing costs.

No later than 4 months after the end of a retail lease, there is to be an adjustment between the landlord and tenant for the term of the lease to take account of any underpayment or overpayment by the tenant in respect of the landlord’s expenditure on advertising, promotion or marketing.