A report from<\/a> Bayleys, although a year old, showed Auckland CBD shops had the highest vacancy rate in the country at 13%. <\/p>\nThe property landlord would have an eight-week grace period to find their own tenant. They could also appeal the decision to hold an auction if redevelopment was planned or if they intended to occupy the premises themselves. <\/p>\n
\u201cMany commercial leases contain a ratchet clause, which means a market rent review can never set the rent below what the tenant already pays. Property Council New Zealand\u2019s own standard lease, released in 2025, keeps a hard ratchet for every rent review,\u201d Swarbrick said. <\/p>\n
\u201cSmall businesses end up paying more than the market rate when consumer spending slows down.\u201d <\/p>\n
Rent reviews<\/p>\n
The party\u2019s commercial rent review policy only applies to businesses with a turnover under $30 million. It covers existing leases as well as new leases. <\/p>\n
When a commercial lease includes a market rent review, a legal mechanism for adjusting rent to the market value, the review rent must be able to decrease as well as increase under the Green Party\u2019s policy. <\/p>\n
The increase limit would need to match the decrease limit. The party would also ban rent reviews that can only be triggered by landlords. <\/p>\n
The party is also proposing creating a low-cost pathway for businesses for commercial lease disputes. This could be done under the Tenancy Tribunal, Disputes Tribunal, or a dedicated body.<\/p>\n
\u201cWhen local businesses fill our main streets, more people come into town, there\u2019s more to do, and everyone has a better, safer time,\u201d Swarbrick said. <\/p>\n
\u201cThese common-sense changes will help small businesses stay open and help new ones fill empty spaces, supporting job creation, the local economy, and cities and towns that work better for all of us.\u201d <\/p>\n
Julia Gabel is a Wellington-based political reporter. She joined the Herald in 2020 and has most recently focused on data journalism. <\/p>\n","protected":false},"excerpt":{"rendered":"Council auctions on empty shops Under this policy, councils would have the power to run auction leases on…\n","protected":false},"author":2,"featured_media":605863,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[2246,51,11231,1853,3071,33965,15559,5903,23778,20833,2518,42,5345,29269,172936,43,1118,4762,2170,15483,699,16401,644,51212,61,40,38,41,39,53839,60678],"class_list":["post-605862","post","type-post","status-publish","format-standard","has-post-thumbnail","category-headlines","tag-2246","tag-auckland","tag-boost","tag-central","tag-cities","tag-designed","tag-elected","tag-election","tag-empty","tag-fill","tag-green","tag-headlines","tag-increase","tag-introduce","tag-mechanisms","tag-news","tag-of","tag-party","tag-plan","tag-promising","tag-releases","tag-rent","tag-retail","tag-shops","tag-to","tag-top-news","tag-top-stories","tag-topnews","tag-topstories","tag-vibes","tag-vibrancy"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/605862","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=605862"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/605862\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/605863"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=605862"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=605862"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=605862"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}