Why getting the right legal advice matters. At ASCO LEGAL, we recognise the importance of staying updated on the latest developments in commercial leasing.

The newly-released Seventh Edition Deed of Lease introduces important changes affecting both landlords and tenants. Key updates include:

• Emergency Access Provisions: Post-Covid rent adjustment clauses based on business impact.
• Alterations and upgrades: Landlords may refuse consent if upgrades are required – tenants cover costs.
• Security options: While there is more flexibility with rental bonds and guarantees, tenants should be aware of new issues related to lease assignments.
• Seismic ratings and digital signing: Supporting insurer requirements and modern leasing practices.
• Rent reviews and outgoings: Expanded options and clearer responsibilities.
• Insurance clauses: Greater transparency around excess and coverage limitations.

These changes have significant legal and financial implications for both landlords and tenants.

Our team at ASCO LEGAL can help you navigate them confidently.

Get in contact today at www.ascolegal.co.nz to protect your leasing interests.