The Commercial Lease Rent Increase Notice is a crucial document in New Zealand's commercial property landscape, required when a landlord exercises their right to increase rent under an existing commercial lease agreement. This document must comply with New Zealand's Property Law Act 2007 and any specific provisions outlined in the original lease agreement. It is typically used at scheduled rent review periods or when permitted by the lease terms, providing formal notification of the new rent amount, the calculation basis (whether market-based or CPI-indexed), and the effective date. The notice must be served within specified timeframes and contain sufficient detail to ensure the tenant understands both the quantum of the increase and its justification. This document forms part of the formal lease documentation and may be crucial in any subsequent dispute resolution.
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1. Date and Address Block: Current date and full address details of both landlord and tenant
2. Lease Reference: Details identifying the relevant lease including property address, original lease date, and any variations
3. Notice Statement: Formal statement declaring this as a rent review/increase notice under the lease
4. Current Rent Details: Statement of current rent amount and payment frequency
5. New Rent Details: Clear statement of new rent amount, effective date, and payment frequency
6. Legal Basis: Reference to relevant lease clause allowing for rent increase
7. GST Statement: Clarification whether amounts are GST inclusive or exclusive
8. Signature Block: Landlord or authorized agent's signature section
1. Market Review Justification: Include when the increase is based on a market rent review, providing brief justification or reference to valuation
2. CPI Calculation Reference: Include when increase is based on CPI adjustment, referencing the calculation method
3. Payment Instructions: Include if payment details are changing or need to be restated
4. Dispute Rights: Include if required by the lease or if there are specific dispute resolution provisions
1. Rent Calculation Schedule: Detailed breakdown of how the new rent was calculated, particularly important for CPI adjustments
2. Copy of Relevant Lease Clauses: Extract of lease clauses relevant to rent review for reference
3. Market Rent Assessment Summary: If applicable, summary of market rent assessment or valuation findings
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