Step by Step Lease of Real Estate
1. The Landlord requests and receives an appraisal from the real estate agent and/or registered valuation from the Valuer to establish the current market value of their premises.
Contact Zone Realty Limited, MREINZ now for a free appraisal.
2. The Landlord/Sub-Lessor/Assignor develops relationship with a real estate agent to lease their premises and signs the Agency Agreement. Zone Realty Limited MREINZ has a database of over 9,000 contacts, positive attitude and efficient marketing tools to effect lease of premises as soon as possible.
3. The Lessee/Sub-Lessee/Assignee works out lease requirements and budget so that a maximum amount for leasing space is established and the search for appropriately-priced premises begins. Contact Zone Realty Limited, MREINZ now to discuss lease requirements.
4. The Lessee/Sub-Lessee/Assignee contacts couple of active real estate agents. At Zone Realty Limited, MREINZ we aim to know about every single property for lease on market in the inner city fringe area and constantly update our records to display current listings only. As a result we are able to offer you vast majority of available properties for lease which saves a lot of time. All Zone Realty Limited MREINZ customers receive regular updates on all new listings too.
5. The Lessee/Sub-Lessee/Assignee works out the form of entity the premises is to be leased under (re: individual name, company, partnership, etc) prior to making an offer.
6. The Lessee/Sub-Lessee/Assignee makes an offer using a standard Law Society Agreement to Lease/Agreement to Assign Lease/Agreement to Sub-Lease prepared by the real estate agent as per the Lessee’s instructions and checked by the Lessee’s solicitor. The Lessee/Sub-Lessee/Assignee fills out the Tenant’s form enabling the Landlord to make an informed decision on the lease of their premises.
7. The real estate agent presents the Lessee’s offer together with a credit check report conducted on the proposed Lessee/Sub-Lessee/Assignee to the Landlord/Sub-Lessor/Assignor. We, at Zone Realty Limited, MREINZ always go an extra mile to ensure Agreement to Lease/Agreement to Assign Lease/Agreement to Sub-Lease Sale are in compliance with all relevant current legislation. Zone Realty Limited, MREINZ strongly recommends using our Solicitor’s clause which gives the Lessee/Sub-Lessee/Assignee right to investigate the premises properly once they are secured under the contract. Acceptance of this clause also records the Landlord/Sub-Lessor/Assignor’s good faith in terms of providing the Lessee/Sub-Lessee/Assignee with reasonable opportunity to investigate the premises thoroughly before committing to lease.
8. The Landlord/Sub-Lessor/Assignor checks the offer with their solicitor and accepts it (the length of negotiations may vary).
9. The Lessee/Sub-Lessee/Assignee pays the deposit to the real estate agent’s Trust Account which is to be held in such account for ten working days (unless both parties consent to earlier release)
10. The Lessee/Sub-Lessee/Assignee makes relevant enquiries to local territorial authorities, required service-providers and other relevant consultants to establish premises’ compliance with Resource Management Act 1991, The Building Act 2004 and financial feasibility in terms of the proposed business use.
11. The Lessee/Sub-Lessee/Assignee confirms Agreement to Lease/Agreement to Sub-Lease, Agreement to Assign Lease becoming Unconditional to the Landlord/Sub-Lessor/Assignor;
12. The Lessee/Sub-Lessee/Assignee does a final inspection prior to the Commencement Date to ensure that the property is in the same condition and that all conditions of Agreement to Lease/Agreement to Sub-Lease, Agreement to Assign Lease (if any) were satisfied by the Landlord/Sub-Lessor/Assignor.
13. Keys are released to the Lessee/Sub-Lessee/Assignee on the Commencement Date.
Disclaimer. The contents of this Information Guide are provided as a general outline only for the guidance of prospective lessees/sub-lessees/assignees, and do not constitute an offer or for part of any contract. Whilst due care has been taken in the preparation of this guide, no representation is made and no responsibility isaccepted for the accuracy of the whole or any part. Interested parties are advised that it is their responsibility to carry out such checks as they deem appropriate on the accuracy of the information contained herein and to satisfy themselves in all respects as to the nature of the property they are proposing to purchase. Neither the whole nor any part of this Information Guide or any reference to it may be included in any public document, circular or statement, without our written approval of the form and context in which it would appear. Zone Realty Limited is not to be held responsible in Contract, Tort or any other way for any accuracy in, omission from, or other defect of whatever kind contained in this Information Guide, and the recipient waives any rights which it may now or in the future against Zone Realty Limited in receiving this information.