sec.166Variation of site agreement on assignment to allow site rent to be increased in accordance with market review

### sec.166 Variation of site agreement on assignment to allow site rent to be increased in accordance with market review This section applies if— a site agreement was entered into before commencement; and the site agreement does not contain a clause permitting the site rent to be increased based on a market review of site rent. The park owner under the site agreement may, by complying with subsection (4), vary the site agreement by adding the following term to the site agreement— ‘The site rent may be increased in accordance with a market review of site rent no more often than once every 3 years after the site agreement was entered into, that has regard to— the range of rents usually charged for comparable sites in comparable residential parks in the locality of the park; or if it is impractical to obtain data for the range of site rents mentioned in paragraph (a) or data is not available for that range—the range of site rents usually charged for comparable sites in comparable residential parks in comparable localities to the locality the park is in; or if it is impractical to obtain data for the range of site rents mentioned in paragraph (a) or (b) or data is not available for that range—general trends in rent for residential accommodation in the locality the park is in.’. The term— may be added to the site agreement only in conjunction with an assignment of the site agreement; and may be added to the site agreement without the agreement of the seller, buyer or any other future home owner; and takes effect when the assignment takes effect; and when added, is taken to be a term of the site agreement for all purposes under this Act. However, subsection (3)(d) only applies if— at the same time as the park owner gives the disclosure documents for the site to the buyer under section 45A(1), the park owner also gives the buyer notice, in the approved form— of the addition of the term to the site agreement; and of the date on which the next market review of site rent will happen; and the park owner, as soon as possible after giving a notice under paragraph (a), but within 3 days after doing so, gives the seller a copy of the notice. s 166 ins 2010 No. 46 s 33 amd 2017 No. 42 s 55A (sec.166-ssec.1) This section applies if— a site agreement was entered into before commencement; and the site agreement does not contain a clause permitting the site rent to be increased based on a market review of site rent. (sec.166-ssec.2) The park owner under the site agreement may, by complying with subsection (4), vary the site agreement by adding the following term to the site agreement— ‘The site rent may be increased in accordance with a market review of site rent no more often than once every 3 years after the site agreement was entered into, that has regard to— the range of rents usually charged for comparable sites in comparable residential parks in the locality of the park; or if it is impractical to obtain data for the range of site rents mentioned in paragraph (a) or data is not available for that range—the range of site rents usually charged for comparable sites in comparable residential parks in comparable localities to the locality the park is in; or if it is impractical to obtain data for the range of site rents mentioned in paragraph (a) or (b) or data is not available for that range—general trends in rent for residential accommodation in the locality the park is in.’. (sec.166-ssec.3) The term— may be added to the site agreement only in conjunction with an assignment of the site agreement; and may be added to the site agreement without the agreement of the seller, buyer or any other future home owner; and takes effect when the assignment takes effect; and when added, is taken to be a term of the site agreement for all purposes under this Act. (sec.166-ssec.4) However, subsection (3)(d) only applies if— at the same time as the park owner gives the disclosure documents for the site to the buyer under section 45A(1), the park owner also gives the buyer notice, in the approved form— of the addition of the term to the site agreement; and of the date on which the next market review of site rent will happen; and the park owner, as soon as possible after giving a notice under paragraph (a), but within 3 days after doing so, gives the seller a copy of the notice. - (a) a site agreement was entered into before commencement; and - (b) the site agreement does not contain a clause permitting the site rent to be increased based on a market review of site rent. - (a) the range of rents usually charged for comparable sites in comparable residential parks in the locality of the park; or - (b) if it is impractical to obtain data for the range of site rents mentioned in paragraph (a) or data is not available for that range—the range of site rents usually charged for comparable sites in comparable residential parks in comparable localities to the locality the park is in; or - (c) if it is impractical to obtain data for the range of site rents mentioned in paragraph (a) or (b) or data is not available for that range—general trends in rent for residential accommodation in the locality the park is in.’. - (a) may be added to the site agreement only in conjunction with an assignment of the site agreement; and - (b) may be added to the site agreement without the agreement of the seller, buyer or any other future home owner; and - (c) takes effect when the assignment takes effect; and - (d) when added, is taken to be a term of the site agreement for all purposes under this Act. - (a) at the same time as the park owner gives the disclosure documents for the site to the buyer under section 45A(1), the park owner also gives the buyer notice, in the approved form— (i) of the addition of the term to the site agreement; and (ii) of the date on which the next market review of site rent will happen; and - (i) of the addition of the term to the site agreement; and - (ii) of the date on which the next market review of site rent will happen; and - (b) the park owner, as soon as possible after giving a notice under paragraph (a), but within 3 days after doing so, gives the seller a copy of the notice. - (i) of the addition of the term to the site agreement; and - (ii) of the date on which the next market review of site rent will happen; and