Rent adjustment option offered

Pastoral leaseholders facing rent increases can now seek a rent adjustment under policy unveiled in November.

Recent rises in land values mean some leaseholders are facing high rent increases when 11 year rent reviews come around.

LINZ's General Manager Policy Kevin Kelly, says farmers can apply for a rent adjustment as a way to manage increased rents. In return lessees could offer enduring public access or other activities such as pest and weed control or cultural heritage protection beyond what they are currently obliged to do.

The Government's rental adjustment policy was developed after consultation with leaseholders. Kevin says LINZ had considered submissions and looked at a range of options to ensure rental outcomes were fair and reasonable for the lessee and the Crown on behalf of the wider New Zealand public.

"All pastoral lessees will be eligible to seek rent adjustment. These will be considered on a case by case basis."

Kevin adds that approaching LINZ for rent adjustment will not prejudice a lessee's right to contest a rental assessment via the Land Valuation Tribunal.

Contact for further information: Kevin Kelly, General Manager Policy, Land Information New Zealand, via info@linz.govt.nz or 0800 ONLINE (0800 665463).