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Getting to grips with leases

Leases are at the heart of commercial property investment yet many people don’t take the time to understand them and suffer as a result.

Monday, June 11th 2018, 2:00PM

by The Landlord

Veteran property investor Olly Newland

One of the major attractions of property for investors is its very tangibility. There’s security and value in bricks and mortar, popular opinion has it.

While this is true, when it comes to commercial properties a huge part of a property’s value is in it the lease that should accompany it.

According to veteran commercial investor Olly Newland, after the location of the building, the lease is the most important component of a property.

Commercial property is a business and the lease is where a large part of the value of that business is, he says.

“A good lease gives a property value so, as a landlord, you want to have as long and secure a lease, with the best quality tenant, as possible, in place.

“And the more it is the more the property should be worth. So the value of the building goes up and down on the quality of the lease terms. It is that simple.”

But the reality is that most people know little about commercial leases and don’t pay enough attention to the details they contain.

This is a mistake for investors who can end up paying, or otherwise running into problems, which could have been avoided if the lease was robust.

For that reason, it is important to find out the finer points of commercial leases.

So, in the latest issue of NZ Property Investor magazine, we set out to provide the following comprehensive run-down of all that investors need to know about them.

We look at standard lease requirements, additional conditions, differences between sectors, how to improve leases, and need to know lease terminology.

To read more about commercial leases, click here to get the digital issue of NZ Property Investor magazine.

Subscribe to NZ Property Investor magazine here to get great stories like this delivered to your mailbox every month.

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Lender Flt 1yr 2yr 3yr
ANZ 5.79 4.55 4.79 4.99
ANZ Special - 4.05 4.29 4.49
ASB Bank 5.80 4.44 4.69 4.89
ASB Bank Special - 3.95 4.29 4.49
BNZ - Mortgage One 6.50 - - -
BNZ - Rapid Repay 5.95 - - -
BNZ - Special - 4.10 4.29 4.49
BNZ - Std, FlyBuys 5.90 4.69 4.79 4.99
BNZ - TotalMoney 5.90 - - -
Credit Union Auckland 6.70 - - -
Credit Union Baywide 6.15 5.20 5.25 -
Lender Flt 1yr 2yr 3yr
Credit Union North 6.45 - - -
Credit Union South 6.45 - - -
Finance Direct - - - -
First Credit Union 5.85 - - -
Heartland 6.70 7.00 7.25 7.85
Heartland Bank - Online - - - -
Heretaunga Building Society 5.75 4.70 4.85 -
Housing NZ Corp 5.80 4.69 4.79 4.79
HSBC Premier 5.89 3.99 4.19 4.69
HSBC Premier LVR > 80% - 3.79 - -
HSBC Special - - - -
Lender Flt 1yr 2yr 3yr
ICBC 5.80 4.59 4.69 5.09
Kiwibank 5.80 4.55 4.69 4.99
Kiwibank - Capped - - - -
Kiwibank - Offset 5.80 - - -
Kiwibank Special - 4.05 4.29 4.49
Liberty 5.69 - - -
Napier Building Society - - - -
Nelson Building Society 6.10 5.10 5.45 -
Resimac 5.30 4.86 4.94 5.30
RESIMAC Special - - - -
SBS Bank 5.89 4.85 5.05 4.49
Lender Flt 1yr 2yr 3yr
SBS Bank Special - 4.19 3.95 4.49
Sovereign 5.90 4.45 4.69 4.89
Sovereign Special - 3.95 4.29 4.49
The Co-operative Bank - Owner Occ 5.75 4.10 4.35 4.49
The Co-operative Bank - Standard 5.75 4.60 4.85 4.99
TSB Bank 5.80 4.45 4.69 4.99
TSB Special - 3.95 4.19 4.49
Wairarapa Building Society 5.70 4.85 4.99 -
Westpac 5.95 4.69 4.79 5.19
Westpac - Offset 5.95 - - -
Westpac Special - 4.15 4.29 4.59
Median 5.89 4.50 4.69 4.79

Last updated: 2 December 2018 8:39pm

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