The Partial Rent Payment Agreement is a specialized legal document used in New Zealand when tenants require a temporary modification to their rent payment obligations under an existing residential tenancy agreement. This document becomes necessary in situations of tenant financial hardship, economic disruption, or other circumstances that warrant a temporary reduction in rent payments. It complies with the Residential Tenancies Act 1986 and includes essential elements such as payment schedules, duration of the arrangement, and treatment of any existing arrears. The agreement serves to protect both landlord and tenant interests by formalizing the modified payment arrangement while maintaining the underlying tenancy agreement's validity. It's particularly relevant in situations such as economic downturns, personal financial challenges, or other circumstances that may affect a tenant's ability to pay full rent temporarily.
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1. Parties: Identifies and provides full legal details of the landlord/property manager and tenant(s)
2. Background: Outlines the existing tenancy agreement, current rent amount, and circumstances leading to the partial payment arrangement
3. Definitions: Defines key terms used throughout the agreement including 'Original Rent', 'Reduced Payment', 'Payment Period', and 'Arrears'
4. Original Tenancy Details: References the original tenancy agreement and confirms its continuing validity
5. Partial Payment Terms: Specifies the reduced payment amount, duration of the arrangement, and payment schedule
6. Payment Method: Details how and when payments should be made, including bank account details or other payment mechanisms
7. Treatment of Arrears: Addresses how any existing rent arrears will be handled and repaid
8. Duration and Review: Specifies the length of the partial payment arrangement and conditions for review or extension
9. Breach and Remedies: Outlines consequences of failing to comply with the payment arrangement
10. Signatures: Space for parties to execute the agreement and date of signing
1. Hardship Provisions: Additional provisions for severe financial hardship cases, including further payment reductions or emergency provisions
2. Third-Party Guarantor: Include when a guarantor is providing additional security for the partial payments
3. Property Maintenance: Special arrangements regarding property maintenance during the partial payment period
4. Government Assistance: References to any government support schemes or assistance being utilized
5. Dispute Resolution: Specific dispute resolution procedures beyond standard tenancy tribunal processes
6. Early Termination: Conditions under which the arrangement can be terminated early by either party
1. Schedule 1: Payment Schedule: Detailed breakdown of payment amounts and due dates for the entire arrangement period
2. Schedule 2: Arrears Calculation: Detailed calculation of any existing arrears and their treatment under the arrangement
3. Schedule 3: Evidence of Hardship: Documentation supporting the need for partial payments (e.g., financial statements, employment records)
4. Appendix A: Original Tenancy Agreement: Copy of the original tenancy agreement referenced in the partial payment arrangement
5. Appendix B: Tenant Financial Statement: Current financial position of the tenant supporting the partial payment arrangement
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Residential Leasing Manager
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Tenancy Coordinator
Asset Manager
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