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Extend Lease Agreement

Extend Lease Agreement Template for New Zealand

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Key Requirements PROMPT example:

Extend Lease Agreement

"I need a standard Extend Lease Agreement for my retail space in Auckland CBD, extending the current lease for another 3 years from March 2025, with an annual rent review clause and option for subletting."

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Document background
The Extend Lease Agreement is a crucial document used in New Zealand when parties wish to continue their existing lease arrangement beyond its original term. This document is particularly relevant when both landlord and tenant are satisfied with their current arrangement and prefer to extend rather than create a new lease. It operates under New Zealand jurisdiction, specifically complying with the Property Law Act 2007 and related legislation. The agreement typically includes details about the extension period, any rent adjustments, confirmation of existing terms, and any modifications to the original lease terms. It provides a streamlined approach to lease continuation while ensuring all legal requirements are met and both parties' interests are protected.
Suggested Sections

1. Parties: Identifies the landlord and tenant, including their full legal names, addresses, and any relevant registration numbers for companies

2. Background: References the original lease agreement, its date, and current term, establishing context for the extension

3. Definitions: Defines key terms used in the agreement, including references to terms from the original lease that remain applicable

4. Extension Terms: Specifies the new extended term, including start and end dates

5. Rent and Review: States the rent payable during the extended term and any review mechanisms

6. Confirmation of Existing Terms: Confirms which terms from the original lease continue to apply during the extension period

7. Execution: Signature blocks for all parties and witnesses if required

Optional Sections

1. Modifications to Original Terms: Used when any original lease terms need to be modified for the extension period

2. Additional Obligations: Include when new obligations for either party are being added as part of the extension

3. Conditions Precedent: Required when the extension is subject to specific conditions being met

4. Guarantor Confirmation: Include when the original lease has guarantors who need to confirm their continued obligations

5. Property Improvements: Used when discussing any agreed renovations or improvements to be made during the extended term

6. Break Clause: Optional provision allowing early termination during the extended term under specified conditions

Suggested Schedules

1. Schedule 1 - Property Details: Detailed description of the leased premises, including any changes to the leased area

2. Schedule 2 - Rent Schedule: Detailed breakdown of rent payments and review dates during the extended term

3. Schedule 3 - Modified Terms: Comprehensive list of any terms from the original lease that are being modified

4. Appendix A - Original Lease: Copy of the original lease agreement for reference

5. Appendix B - Condition Report: Updated condition report of the premises at the time of extension

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
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Relevant Industries

Real Estate

Retail

Commercial Property

Industrial

Hospitality

Healthcare

Professional Services

Education

Manufacturing

Warehousing

Agriculture

Relevant Teams

Legal

Property Management

Facilities Management

Operations

Commercial

Compliance

Real Estate

Administration

Finance

Risk Management

Relevant Roles

Property Manager

Facilities Manager

Legal Counsel

Real Estate Manager

Commercial Director

Operations Manager

Business Owner

Lease Administrator

Property Officer

Compliance Manager

Asset Manager

Contract Manager

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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