Why Now is the Right Time to Convert Your Cross Lease
Cross leases have long been part of Auckland’s housing market, but more and more property owners are recognizing the advantages of moving to freehold (fee simple) titles. With changes in planning rules, increasing buyer awareness, and the value of certainty in property ownership, now is a particularly good time to consider a conversion.
The Challenges of Cross Lease Ownership
Owning a cross lease property can create ongoing headaches:
Renovations or even small changes to your home may require the written consent of other owners.
Shared driveways or common areas can become points of conflict.
Defective or outdated flats plans may cause issues with refinancing or selling.
Many buyers and banks are wary of cross lease titles, reducing the potential pool of interested purchasers.
While cross leases were originally introduced to save on subdivision costs, today they are seen as outdated and restrictive.
The Benefits of Freehold Conversion
Converting your property to a freehold title provides clear, exclusive ownership of your land. Benefits include:
Freedom to make alterations without needing neighbours’ consent (subject to council rules).
Greater certainty for future development potential.
Increased property value and appeal to buyers.
Simpler legal and financial dealings with banks and solicitors.
For most Auckland homeowners, the uplift in value outweighs the conversion cost.
What’s Involved in the Process
The conversion process typically includes:
Agreement between co-owners about the conversion and cost sharing.
A cadastral survey and assessment of your current cross lease title.
Preparation of a subdivision consent application to Council.
Legal documentation and registration of the new titles with LINZ.
At SurveyPro, we handle the surveying, planning, and council processes while coordinating with your solicitor to ensure a smooth outcome.
Why Act Now?
Planning changes: Auckland’s planning framework is evolving, with more emphasis on intensification. A freehold title gives you more flexibility to take advantage of future opportunities.
Market perception: Buyers are increasingly informed about cross leases and often prefer freehold properties. Converting now may give you an edge in the market.
Cost vs. return: While conversion involves some upfront cost, the increase in property value can be significant.
Ready to Take the Next Step?
If you own a cross lease property, now is an excellent time to explore converting to freehold. Our team at SurveyPro specialises in guiding Auckland homeowners through the process from start to finish.
Get in touch today for a no-obligation consultation and discover how we can help unlock your property’s full potential.
