Property problems: Arbitration and mediation could resolve dispute
Monday 16 August 2004
Q. I am the owner of commercial premises that have been leased to a tenant company for the past 10 years. We have always had a good relationship but recently a major dispute has arisen between us in relation to the repair and maintenance of the property.
This problem needs to be resolved quickly but I would like to avoid spending too much money doing this. Is there an alternati
By The Landlord
ve way of resolving this dispute other than going to court? Our tenancy agreement is set out on the Auckland District Law Society standard lease form.A. Two of the most common out-of-court processes for resolving a dispute of this kind are arbitration and mediation. While arbitration is the traditional out-of-court method for resolving commercial disputes, commercial mediation has become increasingly popular.
Choosing which dispute-resolution forum to adopt will depend on issues of cost, time, confidentiality, the nature of the relationship between the parties and whether the parties wish to have a final decision imposed on them or whether they want to make that decision themselves.
Read More - Opens in a new window
Commenting is closed
Property News
Return to market form
There’s been a rallying of the market with the latest REINZ data showing both sales volumes and median house prices noticeably up with the onset of Spring.
House Prices
No stopping Capital price rises
There’s no sign of a slow-down in Wellington’s property prices with Trade Me Property’s latest data showing that asking prices continue to rise solidly.
Mortgages
LVR limits slow down investors
LVR speed limits continue to have a "strong effect" on investors, according to CoreLogic, after the latest Reserve Bank data showed a drop in investor borrowing.
