Lease Option Agreement Property For Sale Template for New Zealand

1. Due Diligence: Optional section for when the option holder requires a due diligence period before exercising the option

2. Financing Contingency: Include when the option holder requires financing arrangements to be conditional

3. Property Management: Additional terms for property management if the property is part of a larger complex or has specific management requirements

4. Assignment Rights: Specific terms for assignment if parties want to allow transfer of the option rights

5. Tenant Improvements: Terms regarding any permitted improvements by the tenant and their impact on purchase price

6. Insurance Requirements: Detailed insurance provisions if specific coverage is required beyond standard terms

7. GST Provisions: Include if either party is GST-registered or if the transaction has GST implications

8. Body Corporate: Include for properties subject to body corporate rules or requirements

1. Property Description: Detailed legal description of the property, including title references and boundaries

2. Lease Terms Schedule: Detailed lease terms including rent reviews, outgoings, and maintenance obligations

3. Option Exercise Notice: Pro-forma notice for exercising the purchase option

4. Permitted Use: Detailed description of permitted activities and use restrictions

5. Condition Report: Detailed report on the property condition at lease commencement

6. Payment Schedule: Detailed breakdown of all payments including rent, option fee, and purchase price components

7. Required Consents: List of required consents and approvals for property use or transfer

8. Property Plans: Plans, drawings, or diagrams of the property and any agreed modifications