4 Jun 2020

How many SMEs will benefit from rent arbitration plan?

From Nine To Noon, 9:05 am on 4 June 2020
Cuba Street in central Wellington

Cuba Street in central Wellington Photo: RNZ / Edward O'Driscoll

From today, commercial tenants with 20 or fewer employees will be able to access partially funded compulsory arbitration if their landlord won't negotiate a fair rent.

The change comes after two months of negotiation between Labour and New Zealand First. Justice Minister Andrew Little says it's a pity it has taken so long, but the process, which is a temporary amendment to the Property Law Act, will provide a means for parties to negotiate fair rents.

How many Small and Medium Size Enterprises will be affected by this? and with what impact on their commercial landlords?

Kathryn talks with Tom Wallace, founder of the cloud based commercial property software firm Re-leased, Leonie Freeman from the Property Council and SME expert and CEO of Business NZ, Kirk Hope.