Colliers Head of Research on 'fair proportion' rental agreement clause

Author
Newstalk ZB,
Publish Date
Wed, 29 Sep 2021, 12:17PM
Minister Kris Faafoi. (Photo / Mark Mitchell)
Minister Kris Faafoi. (Photo / Mark Mitchell)

Colliers Head of Research on 'fair proportion' rental agreement clause

Author
Newstalk ZB,
Publish Date
Wed, 29 Sep 2021, 12:17PM

In a surprise move, Justice Minister Kris Faafoi says he's introducing a 'fair proportion' clause into commercial rent agreements.

From today, a landlord and their tenant can agree to paying a fair amount of rent if Covid-19 has stopped a tenant being able to fully conduct their business.

Faafoi said the two parties could also agree the clause does not apply.

Colliers Head of Research Chris Dibble joined Kerre McIvor.

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