The Guarantor Lease Agreement is designed for use in the New Zealand residential property market where additional security is required beyond standard tenant commitments. This comprehensive document is particularly useful for situations involving first-time renters, students, individuals with limited rental history, or where the tenant's financial credentials alone may not meet the landlord's requirements. The agreement combines standard residential tenancy terms as required by the Residential Tenancies Act 1986 with specific guarantor provisions, ensuring that a third party guarantees the tenant's obligations. It includes detailed sections covering property details, rental terms, maintenance responsibilities, guarantor obligations, and enforcement provisions, all aligned with New Zealand legal requirements.
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1. Parties: Identifies all parties to the agreement: landlord/property manager, tenant(s), and guarantor(s)
2. Background: Explains the context of the agreement, including the purpose of the guarantee and the relationship between parties
3. Definitions: Defines key terms used throughout the agreement
4. Property Details: Specific details of the rental property, including address and any inclusions/exclusions
5. Term and Payments: Details of the lease term, rent amount, payment frequency, and bond requirements
6. Tenant Obligations: Core responsibilities and obligations of the tenant under the lease
7. Landlord Obligations: Core responsibilities and obligations of the landlord under the lease
8. Guarantor Obligations: Scope and extent of the guarantor's obligations and liabilities
9. Default and Enforcement: Consequences of default and enforcement procedures against tenant and/or guarantor
10. Maintenance and Repairs: Responsibilities for property maintenance and repair processes
11. Insurance Requirements: Insurance obligations for both landlord and tenant
12. Termination: Conditions and processes for terminating the lease and/or guarantee
13. General Provisions: Standard legal provisions including notices, amendments, and governing law
14. Execution: Signing provisions and witness requirements
1. Pets: Additional terms regarding pet ownership - include when pets are permitted at the property
2. Body Corporate Rules: Include when the property is part of a body corporate or similar managed complex
3. Special Conditions: Any unique terms specific to this tenancy or property
4. Multiple Guarantors: Additional provisions when there is more than one guarantor, defining joint and several liability
5. Rent Review: Include when specific rent review mechanisms are required beyond standard provisions
6. Property Modifications: Include when specific modifications to the property are permitted or prohibited
7. Subletting and Assignment: Include when subletting or assignment rights are granted to the tenant
1. Schedule 1 - Property Inventory: Detailed list of fixtures, fittings, and chattels included in the tenancy
2. Schedule 2 - Property Condition Report: Detailed report on the condition of the property at the start of the tenancy
3. Schedule 3 - Guarantor Financial Statement: Financial information provided by the guarantor to support their capability to act as guarantor
4. Schedule 4 - Insulation Statement: Mandatory statement about property insulation as required by NZ law
5. Schedule 5 - Body Corporate Rules: If applicable, the complete set of body corporate rules
6. Appendix A - Required Insurance Certificates: Copies of required insurance certificates
7. Appendix B - Property Compliance Documents: Copies of relevant compliance documents including building WOF if applicable
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