Rental Recovery Pack
Tenants whose income has been lost or limited due to:
• Placed on temporary unpaid leave; and
• Commission earners who are unable to work
but who have all previously exhibited a trend of paying their rent in full, are candidates for a Rental Recovery Plan.
1. Tenant Income Declaration Form
This Declaration Document should be completed by all tenants who would like to apply to the landlord or property manager for their deposit to be used as rent or a deferment of rental. The purpose of this document is for the tenant to declare the reason for their loss of earnings and to allow the landlord or property manager to confirm this with the employer as well as request the necessary supporting documentation.
2. Deposit Utilisation Document
The Deposit Utilisation Document is an agreement between the landlord and the tenant that the deposit can be used to pay the rent under extraordinary circumstances such as a National State of Disaster. It’s important to note that this document includes a repayment plan so that the deposit will be reinstated over instalments for the remaining period of the lease term once the State of Disaster has been lifted. This option is suitable to tenants who acknowledge liability. Where the tenant defaults on the repayment of the reinstatement of the deposit, the landlord will be in a position to easily take further legal action.
3. Rental Deferment (Payment Holiday) Document - Residential Tenant
The Rental Deferment Document takes into consideration that the residential tenant’s obligation to make full rental payment is suspended for the period of the National State of Disaster or a shorter period should the lease be validly cancelled by either party. This option includes a repayment plan for the rental to be reinstated over instalments for the remaining period of the lease term once the State of Disaster has been lifted and also provides for the landlord to withdraw from the indulgence under specific circumstances. This is to be utilised where the tenant acknowledges liability and should the tenant default on the repayment of the reinstatement of the rental, the landlord can take further legal action on the basis of this document.
4. Rental Deferment (Payment Holiday) Document - Commercial Tenant
This Rental Deferment Document takes into consideration that the commercial tenant’s obligation to make full rental payment is suspended for an agreed period which could be the period of National State of Disaster, or some shorter or longer period. Importantly, the document provides, as an option, for the tenant to make a minimum monthly payment during the period that its normal payments are suspended. The document also provides for the landlord to withdraw from the indulgence, in specified circumstances. This document is to be used where the tenant acknowledges liability, should the tenant default on the repayment plan, the landlord can easily take further legal action. Where the tenant is not a natural person, the person signing the agreement binds himself as surety and co-principal debtor in order to secure the repayment of the deferred amounts.
|Tenant Income Declaration Form - Residential||1.0||20/03/2020||Word|
|Tenant Income Declaration Form - Commercial||1.0||01/04/2020||Word|
|Deposit Utilisation Agreement||1.1||06/04/2020||Word|
|Rental Deferment Agreement - Residential||1.1||06/04/2020||Word|
|Rental Deferment Agreement - Commercial||1.1||06/04/2020||Word|
|Lease Addendum Extension||1.0||20/03/2020||Word|
|Paragraph 7: Minutes of Meeting||1.0||26/03/2020||Word|
|Agreement to Vacate||1.0||17/08/2020||Word|
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