Waitara Leasehold Land

We manage more than 780 leasehold properties located on endowment land in Waitara. Around 700 of these are residential leases, the rest are commercial, industrial and farm properties. About one quarter of all residential properties in Waitara are on leasehold land.

In a perpetual lease, sometimes referred to as a ‘Glasgow lease’, the lessee has the right to renew on the same terms and conditions as the original lease. Most leases have a 21 year term (although some are for lesser terms) with the rental reviewed at the start of each lease term (although some are reviewed more regularly).

The lease takes the form of a ground lease, the lessor owns the land but gives the right to use and occupy the land to the lessee in return for rent. Any improvements on the land form part of the leasehold interest and are owned by the lessee.

We are proposing to change the legal framework for the Waitara endowment land, including leasehold properties, via the New Plymouth District Council (Waitara Lands) Bill. This is currently being debated at Parliament.

Buying a leasehold property

When you buy a leasehold property you are purchasing the leasehold interest and the rights to use and occupy the land in return for meeting the rights and responsibilities of the lessee under the lease.

How much is the rent?

Rent varies from property to property and is set out in the lease.

How are lease rentals calculated?

Rent are calculated in accordance with the terms of the lease and the Public Bodies Leases Act 1969.

Is your lease expiring?

When a lease is expiring we notify the leaseholder and ask an independent registered valuer for a market rental value. The lessee is notified of the new rent and has the option to either accept a new lease, require the rent to be determined by arbitration or not renew the lease.

Should the lessee dispute the rental they must formally notify us in writing and engage the services of a registered valuer to determine the rent through an arbitration process.

If no formal objection to a new lease and rent notice is received within two months from the date of notice, the new lease is deemed to have been accepted.

If you are unsure of your obligations, we recommended you seek independent professional advice. 

Paying your lease

Rent is payable six monthly in advance. If you prefer to pay monthly or fortnightly this is possible, give us a call on 06-759 6060 to discuss.

There are various ways to pay your lease:

  • Online payments
  • Direct debit - Weekly, fortnightly or other periodic payments can be made to suit your budget. Please complete the direct debit form and return it to us.
  • Internet banking - New Plymouth District Council bank account: 03-0713-0357528-07  or you can make a payment in person at Westpac Bank. Make sure you include your surname, relevant code (i.e. debtor number) and the reference 'Debtor'.
  • In person at the Civic Centre or one of our service centres in Waitara, Bell Block or Inglewood.

We offer continued support to leaseholders. If you are having difficulties with your payments our Finance Team can help you prepare an application to WINZ for the an accommodation supplement. Give us a call on 06-759 6060 to discuss.

Selling your property?

When you sell your leasehold property we need to consent to the transfer of the lessee's interests (improvements such as the house and outbuildings).

Have your lawyer complete the Transfer Consent form (below) and return to us. They will need to include copies of the leasehold and freehold Certificates of Title. 

It costs $160 per consent. Please allow five working days for us to process. 

Mortgaging your property?

We need to consent to the mortgage of the lessee's interests (improvements such as the house and outbuildings).

Have your lawyer complete the Mortgage Consent form (below) and return to us. They will need to include copies of the leasehold and freehold Certificates of Title.

It costs $160 per consent. Please allow five working days for us to process.  

Disclaimer

We strongly recommend you seek professional and legal advice prior to purchasing a leasehold property. All information contained within this site is to be viewed as guidance only. We do not accept claims of loss or liability based on the information contained within.

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