The National Retail Association (NRA) has applauded the Queensland government for passing the Retail Shop Leases Amendment Bill.
The legislation will aim to level out rental agreements and offer disclosures about leases before entering into an agreement.
NRA retail tenancy expert Michael Lonie said that the Bill is a win for small retailers.
“We welcome the bipartisan support, and congratulate both sides of government on working together in the interests of the domestic retail industry.
“This is all about reducing red tape and improving protection for Queensland small businesses involved in retail leasing.
“Domestic retailers are constantly having to compete with international retailers in Australia and online, but this Bill will help to level the playing field, safeguarding Queensland small businesses involved in retail leasing.
“A key takeaway from this Bill is that it will protect prospective buyers by requiring the seller to provide disclosures about the lease for the business premises, before a contract is entered in to.
“Small retailers are the backbone of the Australian economy and the engine room of jobs and growth, so it’s very pleasing to see this important legislation passed.”