The REIV has welcomed the move by the State Government to cut red tape by removing the requirement for retail leases to be lodged with the Small Business Commissioner.
REIV CEO Enzo Raimondo said that this requirement was an unnecessary cost to both REIV Member agencies and landlords.
“The government required details of retail leases be provided to the Small Business Commissioner but then nothing was done with those details.
“There seemed to be no point to the law and it is a clear example of unnecessary red tape.
“The REIV argued for this change on behalf of our Members and we welcome the introduction of the Bill to parliament.
“By removing this requirement our commercial and industrial Members will be able to transact leases more efficiently, saving both time and money.
“This is a good example how by reviewing the myriad of requirements government can cut business costs and make the economy more efficient,” Mr Raimondo concluded.