Rent Review

[Malcolm1]

Hi, we performed a rent review back in September 2018, which increased the rent vs the original lease document, do you have perform a Deed of Rent Review through your lawyer or can you adjust the original lease document and have the tenant sign this amendment,interested in your thoughts? The tenants are happy with the increase....and have been paying every month, just need some previous experiences from commercial landlords, thank you.
Malc

[DaveW]

Hi, we performed a rent review back in September 2018, which increased the rent vs the original lease document, do you have perform a Deed of Rent Review through your lawyer or can you adjust the original lease document and have the tenant sign this amendment,interested in your thoughts? The tenants are happy with the increase....and have been paying every month, just need some previous experiences from commercial landlords, thank you.
Malc

Many landlords don't bother with the expense and simply keep the communication records from the rent review process and the rent account records showing the new new rent. But I prefer the having the Deed of Rent Review to have the review more formally documented signed by the tenant and guarantor.

[Perry]

A basic Deed of Renewal & Variation template can be re-cycled as many times as needed, with amendment as required.

Dated, signed and witnessed after detailing the changes with a copy to the tenant and that should suffice.

[Malcolm1]

Thanks DaveW, my thoughts as well,interested to hear what else is happening around NZ.

[Malcolm1]

Thanks Perry, yip sounds easy enough as well.

[Perry]

I wasn't speculating - it's what I actually use.

[Beano]

For the rent reviews and lease renewals
1: some I do by email exchange
2: some by deed
3: some by registration against the title (paid by tenant)

[Wayne]

A basic Deed of Renewal & Variation template can be re-cycled as many times as needed, with amendment as required.

Dated, signed and witnessed after detailing the changes with a copy to the tenant and that should suffice.

You don't happen to have such a template do you - that you can share?

[Perry]

I have such a template, but mine relates to renewal of a FTT residential tenancy. (I paid a lawyer to create it)

I don't imagine that a commercial tenancy Deed of Renewal & Variation would be radically different.

[Beano]

Is it going to be registered ?
If it is they are available off the registered charges on the title ..use property guru

[nick000]

Remember to read the rent review clause of your lease. The adls one is pretty standard however you would be surprised on how many people don't use the adls version.