Leases are contracts
Leases are contracts. They give a license to operate on a particular site, for a specific period of time, and prescribe a range of terms and conditions. For example businesses that operate on a site by way of a lease.
Any contract can be varied and amended by mutual agreement. This is often done when adding extra years to the lease.
Please, if you are seeking variations get them written down! At the very least have an evidential trail. A lot of things can be agreed to and carried out, but it does become an issue if it is not written down. It is a situation that we said and they said and then, if proof isn't available, the written document will over-ride any other considerations.
About the Author
Malcolm McCrae is the principal of McCrae Real Estate Limited, MREINZ, REAA Licensed Agent
Malcolm (AREINZ) is a Licensed Agent REAA and has over 33 years experience selling real estate, the last 15 years specialising in the motel industry. Allied Member of the Motel Association of New Zealand and Approved Consultant of Hospitality New Zealand.