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Do I as the tennant of a commercial building, have to have a…

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Do I as the tennant...
Do I as the tennant of a commercial building, have to have a commercial lease agreement as a legal requirement . If the answer is yes , does it still apply if I am a 30 % share holder in that building
Submitted: 2 years ago.Category: New Zealand Law
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Answered in 15 minutes by:
1/26/2016
Solicitor: Chris The Lawyer, Lawyer replied 2 years ago
Chris The Lawyer
Category: New Zealand Law
Satisfied Customers: 23,849
Experience: 38 years qualified as a lawyer; LLB, MMgt and FAMINZ.
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It is not compulsory to have a lease if you don't want one. That applies whether you are an owner or not. There can be advantages in having a lease if you want to ensure that you have all of the relecvant expenses for your tax returns, but it's not essential. Sometimes a lease will add value to the building, when you sell, and can assign the lease. But this is all voluntary and not compulsory at law.

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