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Ending A Fixed Term Tenancy Agreement Early

Ending A Fixed Term Tenancy Agreement Early Template for New Zealand

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Key Requirements PROMPT example:

Ending A Fixed Term Tenancy Agreement Early

"I need to draft an agreement for Ending A Fixed Term Tenancy Agreement Early by mutual consent, where the tenant is relocating overseas for work and we've agreed to terminate the lease on March 15, 2025, with no break fee required."

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Document background
The document "Ending A Fixed Term Tenancy Agreement Early" is designed for use in New Zealand when both landlord and tenant agree to terminate a fixed-term residential tenancy before its originally scheduled end date. It complies with the Residential Tenancies Act 1986 and subsequent amendments, providing a structured approach to early termination while protecting both parties' interests. This document should be used when there is mutual agreement to end the tenancy early, and it includes provisions for final inspection, bond refund, outstanding payments, and property condition requirements. It's particularly relevant in situations such as tenant relocation, property sale, or other circumstances where both parties agree to early termination. The agreement ensures all necessary aspects of the early termination are properly documented and legally binding under New Zealand law.
Suggested Sections

1. Parties: Identification of the landlord/property manager and tenant(s), including full legal names and contact details

2. Background: Reference to the original fixed-term tenancy agreement, including its date and property address, and brief context for early termination

3. Definitions: Key terms used in the agreement, including 'Original Agreement', 'Termination Date', and 'Final Inspection'

4. Mutual Agreement to Terminate: Clear statement of both parties' agreement to terminate the tenancy early and the agreed termination date

5. Vacant Possession: Tenant's obligation to deliver the property vacant and in the required condition by the termination date

6. Final Inspection: Arrangements for the final property inspection, including timing and process

7. Bond Settlement: Process for handling the bond refund and any deductions

8. Final Payments: Details of final rent payment, utilities, and any other financial settlements

9. Keys and Access Devices: Requirements for returning all keys, fobs, and access devices

10. Execution: Signing provisions and date of agreement

Optional Sections

1. Damage Resolution: Section detailing how any existing damage to the property will be handled, used when there are outstanding repair issues

2. Break Fee: Details of any early termination fee agreed between parties, used when applicable as per original agreement

3. Rent Adjustment: Calculations for any rent adjustments or credits, used when rent has been paid in advance

4. Forwarding Address: Tenant's obligation to provide forwarding address, used when required for bond refund or future correspondence

5. Outstanding Maintenance: Details of any pending maintenance issues and their resolution, used when there are unresolved maintenance matters

6. Cleaning Requirements: Specific cleaning requirements beyond standard expectations, used when property requires special attention

Suggested Schedules

1. Schedule 1 - Property Condition Report: Detailed documentation of the property's condition at termination

2. Schedule 2 - Financial Settlement Calculation: Breakdown of all financial matters including rent, utilities, and any adjustments

3. Schedule 3 - Inventory Checklist: List of any furnishings or items included in the tenancy that need to be accounted for

4. Appendix A - Photographic Evidence: Photos documenting the property's condition at termination

5. Appendix B - Cleaning Checklist: Detailed checklist of required cleaning tasks

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant Industries

Real Estate

Property Management

Legal Services

Housing

Residential Property

Property Investment

Rental Services

Relevant Teams

Legal

Property Management

Residential Leasing

Operations

Compliance

Asset Management

Tenant Relations

Administration

Real Estate

Relevant Roles

Property Manager

Real Estate Agent

Leasing Manager

Property Administrator

Tenancy Coordinator

Legal Counsel

Residential Leasing Officer

Asset Manager

Property Operations Manager

Compliance Officer

Housing Officer

Tenant Relations Manager

Industries
Residential Tenancies Act 1986: The primary legislation governing residential tenancy relationships in New Zealand, including provisions for terminating fixed-term tenancies, notice requirements, and the rights and obligations of landlords and tenants
Residential Tenancies Amendment Act 2020: Recent updates to the main Act that modified tenancy laws, including changes to termination rules and tenancy agreements
Privacy Act 2020: Legislation governing the collection, use, and disclosure of personal information, which is relevant for handling tenant details in the termination agreement
Property Law Act 2007: General property law principles that may affect the termination of property-related agreements
Contract and Commercial Law Act 2017: Governs general contract principles and enforcement, including aspects of contract termination and mutual agreement to end contracts
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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