The Promise to Pay Rent Agreement is a crucial document in New Zealand's property management landscape, typically employed when tenants have fallen behind on their rent payments and need to establish a formal repayment arrangement. This document is designed to protect both landlord and tenant interests while ensuring compliance with New Zealand legislation, particularly the Residential Tenancies Act 1986 and the Contract and Commercial Law Act 2017. The agreement includes essential details such as the exact amount of rent arrears, agreed payment schedule, payment methods, and consequences of default. It's particularly valuable in preventing tenancy disputes from escalating to the Tenancy Tribunal by providing a clear, mutually agreed path forward for addressing rent arrears. The document becomes especially relevant in challenging economic times or when tenants face temporary financial difficulties but demonstrate willingness to meet their obligations through a structured payment plan.
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1. Parties: Identification of all parties including full legal names, addresses, and contact details of the tenant(s) and landlord/property manager
2. Background: Context of the agreement, including reference to the original tenancy agreement and circumstances leading to this promise to pay arrangement
3. Definitions: Clear definitions of key terms used in the agreement including 'Rent Arrears', 'Payment Schedule', 'Due Date', etc.
4. Acknowledgment of Debt: Clear statement of the total rent arrears amount owed and tenant's acknowledgment of this debt
5. Payment Terms: Detailed payment schedule including amounts, payment dates, and payment methods
6. Default Provisions: Consequences of failing to meet the payment schedule and landlord's remedies
7. General Provisions: Standard contract clauses including entire agreement, amendments, and governing law
8. Execution: Signature blocks for all parties, including date and witness provisions
1. Guarantor Provisions: Required when a guarantor is providing additional security for the payment arrangement
2. Special Conditions: Used when there are unique circumstances or specific conditions attached to the payment arrangement
3. Interest and Penalties: Include when interest or late payment penalties are to be applied
4. Dispute Resolution: Detailed dispute resolution process when more comprehensive than standard provisions are required
5. Privacy and Confidentiality: Additional privacy provisions when sensitive information needs specific protection
1. Schedule 1 - Payment Schedule: Detailed breakdown of payment installments, amounts, and due dates
2. Schedule 2 - Rent Arrears Calculation: Detailed calculation showing how the total amount of rent arrears has been determined
3. Schedule 3 - Supporting Documents: Copies of relevant documents such as rent statements, previous communications, or original tenancy agreement
4. Appendix A - Direct Debit Authorization: Optional form for setting up automatic payments if this payment method is chosen
Relevant legal definitions
Agreement
Rent Arrears
Outstanding Amount
Payment Schedule
Due Date
Default
Business Day
Payment Method
Landlord
Tenant
Property
Original Tenancy Agreement
Guarantor
Interest Rate
Late Payment Fee
Payment Term
Commencement Date
Installment
Default Notice
Working Day
Premises
Property Manager
Payment Date
Force Majeure
Remedy Period
Notice
Rent Arrears
Outstanding Amount
Payment Schedule
Due Date
Default
Business Day
Payment Method
Landlord
Tenant
Property
Original Tenancy Agreement
Guarantor
Interest Rate
Late Payment Fee
Payment Term
Commencement Date
Installment
Default Notice
Working Day
Premises
Property Manager
Payment Date
Force Majeure
Remedy Period
Notice
Clauses
Acknowledgment of Debt
Payment Terms
Default
Acceleration
Interest
Security
Representations and Warranties
Guarantor Obligations
Notice
Force Majeure
Assignment
Severability
Entire Agreement
Amendment
Governing Law
Dispute Resolution
Confidentiality
Costs
Further Assurance
Execution
Interpretation
Waiver
Termination
Remedies
Payment Terms
Default
Acceleration
Interest
Security
Representations and Warranties
Guarantor Obligations
Notice
Force Majeure
Assignment
Severability
Entire Agreement
Amendment
Governing Law
Dispute Resolution
Confidentiality
Costs
Further Assurance
Execution
Interpretation
Waiver
Termination
Remedies
Relevant Industries
Real Estate
Property Management
Residential Housing
Commercial Property
Legal Services
Financial Services
Property Investment
Rental Management
Relevant Teams
Legal
Property Management
Accounts Receivable
Tenant Relations
Compliance
Operations
Finance
Administration
Risk Management
Document Control
Relevant Roles
Property Manager
Real Estate Agent
Landlord
Legal Counsel
Tenancy Compliance Officer
Rent Collection Specialist
Housing Manager
Leasing Manager
Property Administrator
Tenancy Relations Manager
Credit Controller
Accounts Receivable Officer
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