Both parties sign. The lease is registered against the title where required.
What happens at this step
Once the document is agreed, both parties sign. For leases over three years (which is most commercial leases), the lease can be registered against the title. Registration protects the tenant against subsequent purchasers of the property and is generally standard practice.
What NZ Legal does
We arrange execution by both parties (often electronically). We register the lease in Landonline where appropriate. We collect the bond or bank guarantee. We file the executed lease and provide each party with a final, signed copy.
What you do
Sign promptly when the document is final. Pay the bond or arrange the bank guarantee. Update your insurance to cover the new premises and any specific lease-required cover (public liability, plate glass, business interruption).
Common pitfalls
- Not registering a lease over three years. The tenant has weaker protection if the property is sold.
- Bond or guarantee arrangements left until the last minute, delaying possession.
- Insurance not updated by the start date. Lease often requires evidence of cover.
