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The Pre-Lease Agreement serves as a crucial intermediate step in commercial and residential property leasing transactions in New Zealand. It is typically used when parties have reached agreement on key commercial terms but require time to satisfy certain conditions or complete due diligence before entering into a formal lease. This document outlines the essential terms agreed between the parties, including property details, commercial terms, and any conditions precedent that must be satisfied. While not the final lease itself, the Pre-Lease Agreement creates binding obligations on the parties to proceed with the lease subject to specified conditions, providing certainty and structure to the pre-lease negotiation phase. The document must comply with New Zealand property law requirements and commonly incorporates standard commercial practices recognized in the New Zealand property sector.

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

2. Background: Context of the agreement, including property identification and the parties' intention to enter into a formal lease agreement

3. Definitions: Key terms used throughout the agreement, including 'Premises', 'Commencement Date', 'Lease Term', etc.

4. Property Details: Specific description of the premises, including address, area, and any relevant title information

5. Commercial Terms: Key commercial terms including proposed rent, term, commencement date, and rent review mechanisms

6. Conditions Precedent: Conditions that must be satisfied before the formal lease is entered into, such as board approval, due diligence, or consent requirements

7. Timeframes: Key dates and deadlines for satisfaction of conditions, documentation, and lease commencement

8. Documentation: Agreement to enter into formal lease documentation and any specific requirements for the lease format

9. Good Faith: Obligations of parties to act in good faith in progressing the formal lease documentation

10. Costs: Allocation of costs related to the agreement and subsequent lease documentation

11. Execution: Formal signing section including date and party details