The Rent Agreement For Commercial Use is a vital legal instrument used in New Zealand's commercial property sector to establish and govern the landlord-tenant relationship in business premises. This document is essential when any business entity seeks to lease commercial space, whether for retail, office, industrial, or other business purposes. It complies with New Zealand's Property Law Act 2007 and related legislation, incorporating all necessary elements for a legally binding commercial lease. The agreement covers crucial aspects including rent determination, payment terms, maintenance responsibilities, permitted use of premises, insurance requirements, and dispute resolution mechanisms. It's designed to protect both parties' interests while ensuring compliance with local commercial property regulations and business practices specific to the New Zealand market.
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1. Parties: Identification of the landlord and tenant, including full legal names, addresses, and company registration details if applicable
2. Background: Context of the agreement, brief description of the premises, and purpose of the lease
3. Definitions and Interpretation: Definitions of key terms used throughout the agreement and rules for interpreting the document
4. Grant of Lease: Formal statement of the lease grant, including the term, commencement date, and any rights of renewal
5. Rent and Operating Expenses: Details of rent payment, including amount, payment frequency, review mechanisms, and operating expense obligations
6. Outgoings and Utilities: Tenant's responsibilities for rates, utilities, insurance, and other property-related expenses
7. Use of Premises: Permitted use of the premises and any restrictions on use
8. Maintenance and Repairs: Responsibilities of both parties regarding maintenance, repairs, and alterations to the premises
9. Insurance: Insurance requirements for both parties, including types of coverage and minimum amounts
10. Health and Safety: Obligations regarding workplace safety and compliance with health and safety regulations
11. Default and Remedies: Consequences of default by either party and available remedies
12. Assignment and Subletting: Conditions under which the tenant may assign or sublet the premises
13. Access and Quiet Enjoyment: Landlord's right of access and tenant's right to quiet enjoyment
14. Termination: Circumstances under which the lease may be terminated and the process for termination
15. Dispute Resolution: Process for resolving disputes between the parties
16. General Provisions: Standard boilerplate clauses including notices, governing law, and entire agreement
17. Execution: Signature blocks and execution details for all parties
1. Guarantee: Required when there is a personal or corporate guarantee for the tenant's obligations
2. Fit-out Works: Included when the tenant will be undertaking initial fit-out works to the premises
3. Option to Purchase: Included when the tenant is granted an option to purchase the premises
4. Break Clause: Optional provision allowing early termination under specific circumstances
5. Naming Rights: Included when the tenant is granted rights to name the building or display signage
6. Car Parking: Required when specific car parking arrangements are part of the lease
7. Building Management: Included for multi-tenanted buildings with specific management requirements
8. Seismic Rating: Required for buildings in seismic risk areas or where specific seismic requirements apply
1. Schedule 1 - Premises Details: Detailed description of the premises, including floor plans and area calculations
2. Schedule 2 - Rent and Payment Terms: Detailed breakdown of rent, payment dates, and review mechanisms
3. Schedule 3 - Outgoings: Itemized list of outgoings and proportion payable by tenant
4. Schedule 4 - Building Rules: Specific rules and regulations for use of the building and common areas
5. Schedule 5 - Condition Report: Detailed report on the condition of the premises at the start of the lease
6. Schedule 6 - Fit-out Specifications: Technical specifications for any approved fit-out works
7. Appendix A - Plans: Floor plans, site plans, and any relevant architectural drawings
8. Appendix B - Insurance Requirements: Detailed insurance specifications and minimum coverage requirements
9. Appendix C - Guarantor Details: Details of guarantors and specific guarantee obligations if applicable
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