The Rent To Own Contract is a specialized agreement used in New Zealand property transactions where a prospective buyer wishes to occupy and eventually purchase a property but requires or prefers a transitional period of rental before completing the purchase. This document is particularly relevant in situations where buyers need time to arrange financing, improve their credit position, or want to experience living in the property before committing to purchase. The agreement must comply with New Zealand's Property Law Act 2007, Residential Tenancies Act 1986, and other relevant legislation. It includes detailed provisions for rental payments, purchase price determination, option exercise periods, maintenance responsibilities, and the eventual property transfer process. This type of contract offers flexibility while providing security for both parties through clearly defined rights and obligations throughout both the rental and purchase phases.

1. Parties: Identification of the property owner/vendor and the tenant/prospective purchaser

2. Background: Context of the agreement, including property details and intention to enter into a rent-to-own arrangement

3. Definitions and Interpretation: Key terms used throughout the agreement and rules for interpretation

4. Term and Rental Period: Duration of the rental period before purchase option can be exercised

5. Rental Payments: Amount, frequency, and terms of rental payments, including how payments contribute to the purchase price

6. Purchase Option: Terms and conditions of the option to purchase, including purchase price and how/when the option can be exercised

7. Property Maintenance and Repairs: Responsibilities for maintenance and repairs during the rental period

8. Insurance and Risk: Insurance requirements and allocation of risk during the rental period

9. Default and Termination: Circumstances constituting default and consequences of termination

10. Property Transfer: Process and requirements for transferring property title upon exercise of purchase option

11. Costs and Expenses: Allocation of costs including legal fees, registration fees, and other expenses

12. General Provisions: Standard contract clauses including notices, amendments, and governing law

13. Execution: Signing requirements and attestation