The Rental Waiver document is a crucial legal instrument in New Zealand's property landscape, typically utilized during periods of financial hardship, extraordinary circumstances, or when landlords agree to provide rent relief to their tenants. It becomes particularly relevant during economic downturns, natural disasters, or situations like the COVID-19 pandemic. The document modifies existing lease obligations while maintaining the overall structure of the lease agreement. Operating under New Zealand law, including the Property Law Act 2007 and relevant tenancy legislation, the waiver specifies the exact terms of rent relief, including duration, amount waived, and any conditions attached. It serves as a formal record of the agreement between parties and helps prevent future disputes by clearly documenting the temporary or permanent changes to rental obligations.
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1. Parties: Identification of the landlord/lessor and tenant/lessee, including full legal names, addresses, and any relevant registration numbers for companies
2. Background: Context of the rental agreement and the circumstances leading to the waiver request
3. Definitions: Clear definitions of key terms used in the document, including 'Rental Period', 'Premises', 'Lease Agreement', and 'Waiver Period'
4. Waiver Details: Specific details of the rental payment being waived, including exact amount, period, and any conditions attached
5. Duration: The specific period for which the waiver applies, including start and end dates
6. Continuing Obligations: Clarification of other lease obligations that remain in force despite the rental waiver
7. Legal Effect: Statement confirming the legal binding nature of the waiver and its relationship to the original lease agreement
8. Execution: Signature blocks for all parties and witnesses if required
1. Force Majeure: Section addressing extraordinary circumstances (such as COVID-19) that led to the waiver, particularly relevant for pandemic-related rental waivers
2. Partial Waiver Terms: Details of partial waiver arrangements if only a portion of the rent is being waived
3. Payment Plan: If applicable, terms for paying any remaining or deferred rent amounts
4. Confidentiality: Terms regarding the confidentiality of the waiver arrangement
5. Review Mechanism: Process for reviewing the waiver terms if circumstances change
6. Government Assistance: Reference to any government support schemes or subsidies related to the rental waiver
1. Schedule 1 - Property Details: Detailed description of the rental property, including address and any relevant lease reference numbers
2. Schedule 2 - Rental Payment Schedule: Breakdown of regular rental payments and the specific amounts being waived
3. Schedule 3 - Supporting Documentation: Any relevant documentation supporting the waiver request (e.g., financial hardship evidence, COVID-19 impact statements)
4. Appendix A - Original Lease Agreement: Copy or reference to the original lease agreement affected by this waiver
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