The Rental Termination Agreement is a crucial document used in New Zealand's property rental market when both parties agree to end a tenancy arrangement. This document becomes necessary when either the landlord and tenant mutually agree to end the lease before its scheduled termination, or when formalizing the end of a periodic tenancy. The agreement ensures compliance with New Zealand's Residential Tenancies Act 1986 and provides a clear framework for handling the termination process, including property inspection, bond refund, and final utility payments. It helps prevent disputes by clearly documenting the agreed terms and conditions of the termination, making it an essential tool for property managers, landlords, and tenants in both residential and commercial settings.
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1. Parties: Identifies the landlord/property manager and tenant(s), including their full legal names and contact details
2. Background: References the original tenancy agreement, its date, and the property address
3. Definitions: Defines key terms used throughout the agreement
4. Agreement to Terminate: States the mutual agreement to end the tenancy and specifies the termination date
5. Property Inspection: Details the final inspection arrangements and condition assessment requirements
6. Bond Settlement: Specifies the process for handling the bond refund and any deductions
7. Outstanding Payments: Addresses any remaining rent, utilities, or other payments due
8. Keys and Access: Details the return of all keys, access cards, and other property access items
9. Tenant Obligations: Lists the tenant's responsibilities before vacating, including cleaning and repairs
10. Execution: Signature block for all parties to execute the agreement
1. Forwarding Address: Section for tenant's new address details - include when the tenant agrees to provide this information
2. Early Termination Fee: Include when the termination occurs before the end of a fixed-term tenancy
3. Property Marketing: Include when arrangements are needed for showing the property to potential new tenants
4. Abandonment of Property: Include when addressing handling of items left behind by tenants
5. Maintenance Works: Include when specific repairs or maintenance issues need to be addressed before termination
6. Breaking Fixed Term: Include when the termination occurs during a fixed-term tenancy
1. Schedule 1 - Property Condition Report: Detailed checklist of the property's condition at termination
2. Schedule 2 - Outstanding Payments Schedule: Itemized list of any outstanding payments or credits
3. Schedule 3 - Cleaning Requirements: Detailed checklist of required cleaning tasks
4. Appendix A - Photos: Recent photographs documenting the property's condition
5. Appendix B - Bond Refund Form: Official bond refund form from Tenancy Services
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