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5 Year Lease Agreement Template for New Zealand

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Key Requirements PROMPT example:

5 Year Lease Agreement

"I need a 5 Year Lease Agreement for a retail space in Auckland's CBD, starting March 2025, with specific provisions for after-hours access and signage rights for a flagship store location."

Document background
This 5 Year Lease Agreement is designed for use in New Zealand commercial property transactions where a medium-term commitment is desired by both landlord and tenant. It is particularly suited for established businesses seeking stability in their premises occupation while maintaining flexibility for future growth. The agreement incorporates all essential elements required under New Zealand law, including compliance with the Property Law Act 2007, and addresses key commercial terms such as rent reviews, maintenance obligations, and operating expenses. It can be adapted for various commercial property types, from office spaces to retail outlets, and includes provisions for modern business considerations such as seismic requirements and environmental standards. The document serves as a foundational agreement for commercial property relationships, providing clear guidelines for both parties' rights and obligations throughout the lease term.
Suggested Sections

1. Parties: Identification of the landlord and tenant, including full legal names, addresses, and company details if applicable

2. Background: Context of the lease arrangement and brief description of the premises

3. Definitions: Definitions of key terms used throughout the lease agreement

4. Grant of Lease: Formal grant of the lease, specifying the premises and term

5. Term and Renewal: Details of the 5-year term, commencement date, and any renewal rights

6. Rent and Operating Expenses: Rental amount, payment terms, operating expenses, and outgoings

7. Rent Review: Mechanism and timing for rent reviews during the term

8. Use of Premises: Permitted use of the premises and any restrictions

9. Maintenance and Repairs: Responsibilities for maintenance, repairs, and alterations

10. Insurance: Insurance requirements for both landlord and tenant

11. Default and Remedies: Events of default and available remedies

12. Assignment and Subletting: Conditions for assignment or subletting of the premises

13. Quiet Enjoyment: Tenant's right to peaceful occupation of the premises

14. Termination: Circumstances and process for early termination

15. Execution: Signing provisions and attestation

Optional Sections

1. Guarantees: Required when there are personal or corporate guarantees for the tenant's obligations

2. Fitout Works: Include when initial tenant fitout works are required

3. Car Parking: Required when car parking spaces are included in the lease

4. Naming Rights: Include when tenant has rights to building or premises naming

5. Environmental Obligations: Include for properties with specific environmental requirements or certifications

6. Seismic Requirements: Required for buildings in earthquake-prone areas or with specific seismic ratings

7. Covid-19 Provisions: Include provisions dealing with pandemic-related disruptions

8. Operating Hours: Required for premises in shopping centers or with restricted operating hours

Suggested Schedules

1. Schedule 1 - Premises Plan: Detailed plan showing the leased premises and common areas

2. Schedule 2 - Rent Schedule: Detailed breakdown of rent, including base rent and scheduled increases

3. Schedule 3 - Operating Expenses: Itemized list of operating expenses and allocation method

4. Schedule 4 - Building Rules: Rules and regulations governing the use of the building

5. Schedule 5 - Condition Report: Detailed report on the condition of the premises at commencement

6. Schedule 6 - Fitout Specifications: Specifications for any approved tenant fitout works

7. Schedule 7 - Insurance Requirements: Detailed insurance requirements for both parties

8. Appendix A - Guarantees: Forms of any required guarantees

9. Appendix B - Building Warrant of Fitness: Current building warrant of fitness and compliance schedule

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈ˰æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions

















































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Relevant Industries

Retail

Commercial Office

Industrial

Hospitality

Healthcare

Education

Professional Services

Manufacturing

Logistics

Technology

Entertainment

Banking and Finance

Relevant Teams

Legal

Property Management

Facilities Management

Operations

Finance

Risk and Compliance

Real Estate

Administrative

Executive

Procurement

Relevant Roles

Property Manager

Facilities Manager

Real Estate Manager

Commercial Lawyer

Legal Counsel

Operations Manager

Chief Financial Officer

Business Development Manager

Asset Manager

Leasing Manager

Risk Manager

Compliance Officer

Company Secretary

Managing Director

Chief Executive Officer

Industries








Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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