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Commercial Tenancy Agreement
"I need a Commercial Tenancy Agreement for a retail space in Kuala Lumpur's shopping district, starting from March 1, 2025, with a 3-year term and option to renew for 2 additional years, including specific provisions for operating hours aligned with shopping mall timing."
1. Parties: Identifies and provides full details of the landlord and tenant, including registration numbers for companies
2. Background: Brief context about the property and purpose of the lease
3. Definitions: Defines key terms used throughout the agreement
4. Demise: Specifies the property being leased and the term of the lease
5. Rent and Payment Terms: Details of rent amount, payment schedule, and method of payment
6. Security Deposit: Amount, payment terms and conditions for return of the security deposit
7. Utility Charges: Responsibility for utilities and service charges
8. Use of Premises: Permitted use of the property and any restrictions
9. Maintenance and Repairs: Responsibilities of landlord and tenant for maintenance and repairs
10. Insurance: Required insurance coverage for both parties
11. Assignment and Subletting: Conditions under which the tenant may assign or sublet the premises
12. Landlord's Covenants: Obligations and promises of the landlord
13. Tenant's Covenants: Obligations and promises of the tenant
14. Default and Remedies: Consequences of breach and available remedies
15. Termination: Conditions and procedures for termination of the lease
16. Notices: How formal notices should be given between parties
17. Governing Law: Specifies Malaysian law as governing law and jurisdiction
1. Option to Renew: Terms for lease renewal - include when agreed with landlord
2. Renovation and Alterations: Include when tenant is permitted to make specific modifications
3. Break Clause: Early termination options - include when specifically negotiated
4. Force Majeure: Include for protection against unforeseen circumstances
5. Guarantee: Include when a corporate guarantee or personal guarantee is required
6. Right of First Refusal: Include when tenant has priority rights to purchase or lease additional space
7. Exclusivity Clause: Include when tenant has exclusive rights to conduct certain business types in the building
8. Green Lease Provisions: Include for properties with specific environmental requirements
9. Service Charge Provisions: Include for properties in managed buildings with service charges
1. Schedule 1 - Property Description: Detailed description of the premises including floor plans and measurements
2. Schedule 2 - Rent and Payment Schedule: Detailed breakdown of rent, escalation rates, and payment dates
3. Schedule 3 - Condition Report: Detailed description of property condition at commencement of lease
4. Schedule 4 - Building Rules and Regulations: Specific rules applicable to the building or complex
5. Schedule 5 - Fitting Out Guidelines: Technical specifications for any permitted renovations or modifications
6. Schedule 6 - Service Charges: Breakdown of service charges and building maintenance fees
7. Schedule 7 - Handover Inventory: List of any fixtures, fittings or furniture included in the lease
8. Schedule 8 - Special Conditions: Any additional terms specific to this tenancy
Authors
Retail
Office Space
Industrial
Hospitality
Healthcare
Education
Technology
Financial Services
Professional Services
Manufacturing
Logistics
Food & Beverage
Legal
Real Estate
Facilities Management
Finance
Operations
Compliance
Risk Management
Administration
Property Management
Corporate Services
Property Manager
Facilities Manager
Legal Counsel
Real Estate Director
Chief Financial Officer
Operations Manager
Business Development Manager
Compliance Officer
Risk Manager
Store Manager
Branch Manager
General Manager
Contract Administrator
Company Secretary
Asset Manager
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