The Auckland District Law Society released the sixth edition of their standard form commercial Deed of Lease on 5 November 2012. There are significant changes from the previous edition of the ADLS commercial lease form that attempt to address many of the issues that have arisen out of the Christchurch earthquakes.
The most significant changes include:
The changes adopted in the sixth edition have sought to provide some clarity to leases in relation to significant natural disasters (such as the earthquakes in Christchurch), as well as offering some new rent review options for parties. These will be important factors for landlords and tenants to take into consideration when entering into a commercial lease.