The Late Rent Payment Agreement is a crucial document used when tenants fall behind on their rental payments in Australian residential or commercial properties. This agreement provides a formal framework for managing rental arrears while maintaining the tenancy relationship. It should be used when a tenant has accumulated rent arrears but demonstrates willingness to resolve the situation through a structured payment plan. The document complies with Australian state and territory residential tenancy laws and includes essential details such as the amount of arrears, agreed payment schedule, payment methods, and consequences of default. It serves as an addendum to the existing lease agreement and helps prevent further legal action while providing a clear path to resolve the rental debt.
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1. Parties: Identifies and provides full details of the landlord/property manager and tenant(s)
2. Background: Outlines the existing tenancy agreement details, acknowledges the rent arrears, and states the purpose of this agreement
3. Definitions: Defines key terms used throughout the agreement
4. Acknowledgment of Debt: States the total amount of rent arrears and period it covers
5. Payment Terms: Details the agreed payment plan, including payment amounts, frequency, and due dates
6. Method of Payment: Specifies acceptable payment methods and account details
7. Default Provisions: Outlines consequences of failing to meet payment obligations
8. Effect on Tenancy Agreement: Clarifies that original tenancy agreement remains in force
9. General Provisions: Includes standard clauses about notices, amendments, and governing law
10. Execution: Signature blocks for all parties
1. Guarantor Details: Required when a guarantor is providing additional security for the payment plan
2. Special Conditions: Used when specific circumstances require additional terms or conditions
3. Hardship Provisions: Include when tenant has demonstrated financial hardship requiring specific considerations
4. Bond Handling: Include when existing rental bond is relevant to the arrears situation
5. Dispute Resolution: Additional dispute resolution procedures beyond standard provisions
1. Schedule A - Arrears Calculation: Detailed breakdown of rent arrears, including dates and amounts
2. Schedule B - Payment Plan: Detailed payment schedule showing all installment amounts and due dates
3. Schedule C - Current Tenancy Agreement: Copy or key details of the existing tenancy agreement
4. Appendix 1 - Financial Hardship Evidence: If applicable, documentation supporting financial hardship claims
Relevant legal definitions
Clauses
Acknowledgment of Debt
Payment Terms
Payment Method
Default and Remedies
Duration
Representations and Warranties
Amendment
Severability
Governing Law
Entire Agreement
Force Majeure
Notices
Assignment
Waiver
Counterparts
Good Faith
Dispute Resolution
Termination
Relationship to Original Lease
Costs and Expenses
Payment Terms
Payment Method
Default and Remedies
Duration
Representations and Warranties
Amendment
Severability
Governing Law
Entire Agreement
Force Majeure
Notices
Assignment
Waiver
Counterparts
Good Faith
Dispute Resolution
Termination
Relationship to Original Lease
Costs and Expenses
Relevant Industries
Real Estate
Property Management
Residential Housing
Commercial Property
Legal Services
Financial Services
Relevant Teams
Legal
Property Management
Leasing
Operations
Compliance
Finance
Collections
Customer Service
Asset Management
Risk Management
Relevant Roles
Property Manager
Real Estate Agent
Leasing Manager
Tenancy Coordinator
Legal Counsel
Compliance Officer
Account Manager
Housing Officer
Facility Manager
Asset Manager
Collections Specialist
Rental Administrator
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