Materials comprised of a Paper and PowerPoint Handout. 

Presenters

Panellists: Justin March, Partner, DLA Piper and Joanna Pidgeon, Director, Pidgeon Judd

Chair: Tony Herring, Partner, Gibson Sheat

Synopsis

Following an extensive and considered review period, The Law Association of New Zealand released the seventh edition of the Deed of Lease in late November 2024. The revised Deed contains significant amendments reflecting changes in law and practice. This paper outlines and provides the rationale for and details of the changes, highlighting the implications for both lawyers and their clients.

These Materials will help you:

Gain an understanding of the key changes to the Deed of Lease, which are extensive, including but not limited to:

• different rent review options with fixed reviews added and different ratchet options, caps and collars;
• revised outgoings;
• landlord insurance and insurance excesses;
• revised compliance with statutes obligations and health and safety obligations;
• changes to maintenance of premises, reinstatement and make good clauses and rent abatement;
• revised no access in emergency (previous clause 27.5); 
• different additional security options including bank guarantee and rental bond;
• building seismic rating option; and
• mortgagee consent to lease option.

Receive user guidance on the implications of the changes when advising landlords and tenants.

Intended Audience

All property lawyers, property litigators and legal executives. Commercial real estate agents and property managers would also find this paper useful.