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Bond Waiver

Bond Waiver Template for New Zealand

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Key Requirements PROMPT example:

Bond Waiver

"I need a Bond Waiver agreement for a high-end apartment in Auckland, where the tenant has provided excellent references and agreed to pay three months' rent in advance instead of a bond."

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Document background
The Bond Waiver document serves as a crucial legal instrument in New Zealand's residential tenancy landscape where parties wish to establish a tenancy without the traditional bond requirement. This document becomes necessary when landlords are willing to forego the standard security deposit, often due to factors such as long-term tenancy arrangements, exceptional tenant references, or specific market conditions. The Bond Waiver must comply with the Residential Tenancies Act 1986 and typically includes detailed provisions about property condition, tenant obligations, and alternative security arrangements. This document is particularly relevant in situations where expedited tenancy commencement is desired or where tenants have demonstrated strong financial stability and rental history.
Suggested Sections

1. Parties: Identifies and provides full details of the landlord/property manager and tenant(s)

2. Background: Establishes the context of the rental agreement and the parties' intention to waive the standard bond requirement

3. Definitions: Defines key terms used in the document including 'Property', 'Tenancy Agreement', 'Bond', etc.

4. Bond Waiver Declaration: Explicit statement of the bond being waived and acknowledgment by both parties

5. Tenant Obligations: Specifies the tenant's ongoing responsibilities despite the bond waiver

6. Landlord Rights: Outlines the landlord's retained rights regarding property damage or breach of tenancy terms

7. Duration: Specifies the period for which the bond waiver applies

8. Execution: Signature section for all parties to execute the agreement

Optional Sections

1. Alternative Security Arrangements: Details any alternative security measures agreed upon in lieu of a bond

2. Insurance Requirements: Specifies any mandatory insurance requirements for the tenant as a condition of the bond waiver

3. Periodic Review: Includes provisions for reviewing the bond waiver arrangement at specified intervals

4. Termination Conditions: Specific conditions under which the bond waiver may be revoked

5. Property Condition Report Reference: Reference to detailed property condition documentation, particularly important without a bond

Suggested Schedules

1. Property Details: Detailed description of the rental property including address and any specific areas included/excluded

2. Property Condition Report: Comprehensive documentation of the property's condition at the start of the tenancy

3. Special Conditions: Any specific conditions or requirements agreed upon by the parties in relation to the bond waiver

4. Tenant References: Documentation of tenant references or credit checks that support the bond waiver decision

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓƵ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions

















Clauses



















Relevant Industries

Residential Real Estate

Property Management

Real Estate Services

Rental Housing

Student Accommodation

Social Housing

Property Investment

Relevant Teams

Legal

Property Management

Leasing

Operations

Compliance

Risk Management

Customer Service

Administration

Asset Management

Relevant Roles

Property Manager

Leasing Agent

Real Estate Agent

Tenancy Officer

Housing Coordinator

Rental Manager

Legal Counsel

Compliance Officer

Tenancy Administrator

Portfolio Manager

Asset Manager

Industries




Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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