Commercial tenants can now receive Airpoints Dollars in Air NZ's Airpoints for Business programme.
In a first for the commercial property sector, small to medium-sized businesses taking out leases on commercial and industrial premises can now receive Airpoints Dollars as part of Air New Zealand's Airpoints for Business programme.
"Tenants who lease commercial and industrial property through Bayleys will receive Airpoints Dollars where landlords have agreed to participate in the programme," says Lloyd Budd, Bayleys' Auckland office and retail leasing director.
To qualify, lessees simply need an Airpoints for Business account, which is free to set up. Tenants can earn one Airpoints Dollar for every one square metre of premises leased - up to a maximum of 1000sq m per lease transaction.
Airpoints Dollars are directly allocated to the tenant company's Airpoints for Business account. They can be redeemed for domestic and international flights and also for a range of products including Koru Club membership, hotel bookings and car rentals.
Bayleys Real Estate is the exclusive full service real estate partner of Air New Zealand Airpoints and vendors selling their personal property through Bayleys Real Estate have had the ability to earn Airpoints Dollars through the Airpoints programme since April 2015.
Budd said it was a natural progression to now roll out the 'Airpoints for Business'initiative to the tenant component of the commercial and industrial real estate markets.
"Our leasing partnership with Airpoints for Business is another way Bayleys adds value to a property transaction - enabling small to medium-sized corporate and business clients to achieve greater value from their leasing contract, for conducting a transaction they would have undertaken anyway," Budd says.
"This partnership is a New Zealand first. There are no other real estate agencies offering this type of incentive to tenants seeking new premises. And it's an incentive which can be added to any other inducements being offered by landlords - such as 'rent-free' periods or fit-outs.
"Incentive and loyalty programmes are a growing trend in New Zealand's commercial and corporate sectors - ranging from fuel cards and stationery suppliers which were some of the first off the block, now through to electricity retailers, banks, and telco' providers," Budd says.
"When combined and accounted for, the value accumulation derived from various corporate loyalty and incentive programmes can amount to several thousand dollars annually. That's an important consideration for many small to medium-sized businesses looking to maximise their bottom line performance."
Budd says the initiative has been well received by landlords and a significant number of properties Bayleys has available for lease are now already part of the Airpoints programme. "We are expecting this to increase further as tenants looking to lease become more aware of the scheme and enter the market over the next few months."
Properties Bayleys has available for lease range from small retail and office premises through to substantial warehousing and industrial buildings of several thousand square metres. The agency's largest commercial leasing transaction over the past year has been the rehousing of multi-media company NZME into about 8300sq m of purpose-built office premises developed by Mansons TCLM at 151 Victoria St West in Auckland's CBD.
However, Budd says most leases concluded in the commercial property sector are for less than 1000sq m. "While it's the bigger companies which tend to grab the headlines, small to medium sized enterprises [SMEs] make up the vast majority of businesses in New Zealand and are a crucial component of our economy. This Airpoints for Business initiative is targetted at them and is further recognition of the very important contribution they make to the success of NZ Inc."
Budd is being launched at a time when the commercial property leasing market is the most active it's been for many years. "High levels of leasing transactions are being recorded right around the country which is good sign that the national economy is humming along quite nicely at present."