The Agreement to Lease is a crucial document in New Zealand property transactions that bridges the gap between initial property negotiations and the execution of a formal lease. It is typically used when parties have agreed on key commercial terms but need time before the formal lease can commence, such as during property fit-outs, construction works, or due diligence periods. This agreement, governed by New Zealand law including the Property Law Act 2007, sets out binding obligations on both parties to enter into a formal lease once specified conditions are met. The document includes essential details such as premises description, lease terms, rent, outgoings, conditions precedent, and any special requirements for either party. It provides security for both landlord and tenant while necessary preparations are made for the formal lease commencement.
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1. Parties: Identification of the landlord and tenant, including full legal names and addresses
2. Background: Context of the agreement, including brief description of the premises and parties' intention to enter into a lease
3. Definitions: Definitions of key terms used throughout the agreement
4. Agreement to Lease: Core agreement to grant and take the lease, including the premises description
5. Lease Terms: Key commercial terms including commencement date, term, rent, and rent reviews
6. Conditions Precedent: Any conditions that must be satisfied before the lease becomes binding
7. Landlord's Works: Details of any works the landlord must complete before lease commencement
8. Tenant's Works: Requirements for any fit-out or other works by the tenant
9. Deposit and Security: Details of any deposit or security required
10. Lease Execution: Requirements and timeframes for executing the formal lease
11. Default and Remedies: Consequences of default by either party
12. General Provisions: Standard clauses including notices, costs, and governing law
13. Execution: Signature blocks and execution requirements
1. Resource Consent: Required when the intended use requires resource consent or change of use approval
2. Due Diligence: When the tenant requires a due diligence period to investigate the premises
3. Guarantees: When personal or corporate guarantees are required for the tenant's obligations
4. Early Access: Terms for early access to the premises before lease commencement
5. Subdivision: Required when the premises are part of a pending subdivision
6. Assignment: Special provisions for assignment or subletting rights
7. Break Rights: Optional early termination rights for either party
8. Development Provisions: When the premises are part of a development under construction
1. Schedule 1 - Premises Details: Detailed description of premises including plans and areas
2. Schedule 2 - Commercial Terms: Key commercial terms including rent, outgoings, and lease term details
3. Schedule 3 - Landlord's Works Specifications: Detailed specifications for any works to be completed by the landlord
4. Schedule 4 - Tenant's Fitout Requirements: Specifications and requirements for tenant's fitout works
5. Schedule 5 - Condition Report: Current condition of the premises including photographs
6. Appendix A - Draft Lease: Form of lease to be executed
7. Appendix B - Guarantee Form: Form of any required guarantees
8. Appendix C - Plans: Premises plans, including location and floor plans
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Commercial Property
Retail
Hospitality
Industrial
Office Space
Healthcare
Education
Professional Services
Warehousing and Logistics
Manufacturing
Technology
Relevant Teams
Legal
Property
Operations
Finance
Facilities Management
Risk and Compliance
Commercial
Corporate Services
Administration
Business Development
Relevant Roles
Property Manager
Real Estate Agent
Legal Counsel
Commercial Lawyer
Facilities Manager
Operations Manager
Business Development Manager
Chief Financial Officer
Property Director
Leasing Executive
Asset Manager
Commercial Property Manager
Risk Manager
Compliance Officer
Corporate Services Manager
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