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Rent Payment Plan Agreement

Rent Payment Plan Agreement Template for Ireland

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Key Requirements PROMPT example:

Rent Payment Plan Agreement

"I need a Rent Payment Plan Agreement for a residential property in Dublin, with monthly installments of €500 starting from January 2025, to cover total arrears of €3,000, including a clause for early repayment options."

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Document background
The Rent Payment Plan Agreement is a crucial document used in Irish residential tenancy situations where a tenant has accumulated rent arrears and both parties wish to establish a formal repayment structure. This agreement type has become increasingly important, particularly following economic challenges that have impacted tenants' ability to meet rental obligations. The document provides a legally compliant framework under Irish law for managing arrears while maintaining the tenancy, incorporating provisions from the Residential Tenancies Act 2004 and subsequent amendments. It includes essential details such as the outstanding amount, payment schedule, default provisions, and the relationship to the original tenancy agreement. The agreement serves to protect both landlord and tenant interests while providing a clear path to resolving the arrears situation.
Suggested Sections

1. Parties: Identification of the landlord and tenant, including full legal names, addresses, and any registration numbers

2. Background: Context of the agreement, including reference to the original tenancy agreement, current rent arrears situation, and reason for the payment plan

3. Definitions: Definitions of key terms used throughout the agreement

4. Acknowledgment of Debt: Formal acknowledgment of the total rent arrears amount and breakdown of how it accumulated

5. Payment Plan Terms: Detailed terms of the payment plan, including installment amounts, payment dates, and duration

6. Payment Methods: Specified acceptable methods of payment and payment processing details

7. Default Provisions: Consequences of missing payments and what constitutes a default under the plan

8. Effect on Original Tenancy: Clarification that all other terms of the original tenancy agreement remain in force

9. Representations and Warranties: Statements by both parties confirming their ability and intention to comply with the agreement

10. Governing Law: Confirmation that the agreement is governed by Irish law

Optional Sections

1. Early Payment Provisions: Optional terms for early repayment of the arrears, including any applicable discounts

2. Hardship Provisions: Additional flexibility or provisions for cases of continued financial hardship

3. Third-Party Guarantor: Terms relating to a guarantor if one is being added as security for the payment plan

4. Alternative Dispute Resolution: Optional provisions for mediation or arbitration before court proceedings

5. Interest Charges: Terms regarding any interest charges on the arrears, if applicable

6. Covid-19 Provisions: Specific terms related to COVID-19 impact, if relevant to the payment plan

Suggested Schedules

1. Schedule 1 - Arrears Calculation: Detailed breakdown of the rent arrears, including dates and amounts

2. Schedule 2 - Payment Schedule: Detailed payment schedule showing all installment dates and amounts

3. Schedule 3 - Original Tenancy Agreement: Copy or key terms of the original tenancy agreement

4. Appendix A - Direct Debit Mandate: Forms for setting up automatic payments, if applicable

5. Appendix B - Financial Statement: Tenant's statement of financial position supporting the payment plan terms

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions


























Clauses




















Relevant Industries

Real Estate

Property Management

Residential Housing

Legal Services

Financial Services

Social Housing

Student Accommodation

Relevant Teams

Legal

Property Management

Residential Lettings

Credit Control

Housing Services

Compliance

Finance

Tenant Relations

Asset Management

Operations

Relevant Roles

Property Manager

Letting Agent

Real Estate Attorney

Housing Officer

Tenancy Relations Officer

Credit Control Manager

Residential Property Lawyer

Asset Manager

Compliance Officer

Tenant Support Officer

Housing Services Manager

Rent Collection Specialist

Industries







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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