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Contract For Rental Space
"I need a Contract For Rental Space for a commercial retail unit in Manila's Makati district, suitable for a high-end restaurant business with a 5-year term starting March 1, 2025, including fit-out provisions and option for renewal."
1. Parties: Identifies and provides complete details of the Lessor and Lessee, including their legal names, addresses, and contact information
2. Background: Briefly describes the context of the rental agreement and the parties' intention to enter into a lease arrangement
3. Definitions: Defines key terms used throughout the agreement to ensure clear interpretation
4. Property Description: Detailed description of the rental space including exact location, measurements, and included fixtures/fittings
5. Term of Lease: Specifies the duration of the lease, start date, and end date
6. Rent and Payment Terms: Details the rental amount, payment schedule, security deposit, and advance rent requirements
7. Utilities and Maintenance: Outlines responsibilities for utility payments and maintenance obligations of both parties
8. Use of Premises: Specifies permitted uses of the rental space and any restrictions
9. Rights and Obligations: Lists the specific rights and obligations of both the Lessor and Lessee
10. Insurance and Liability: Specifies required insurance coverage and allocation of risks
11. Default and Remedies: Defines events of default and available remedies for both parties
12. Termination: Details the conditions and process for early termination or non-renewal
13. Governing Law: Specifies that Philippine law governs the agreement and details jurisdiction for disputes
14. Signatures: Space for parties to execute the agreement with proper attestation
1. Security and Access: Used for commercial properties or when specific security arrangements are needed, detailing access cards, keys, and security protocols
2. Fit-out and Alterations: Include when the tenant is permitted to make modifications to the space, typically in commercial leases
3. Option to Renew: Include when offering the tenant the option to extend the lease term under specified conditions
4. Right of First Refusal: Include when giving the tenant priority rights to purchase the property or lease additional space
5. Subletting and Assignment: Include when allowing or specifically prohibiting subletting or assignment rights
6. Force Majeure: Include to address unforeseen circumstances that might affect the lease agreement
7. Common Areas: Include for properties with shared facilities, detailing rights and cost sharing
8. Parking: Include when parking spaces are part of the lease arrangement
1. Schedule A - Property Floor Plan: Detailed floor plan showing the exact areas included in the lease
2. Schedule B - Inventory List: Comprehensive list of fixtures, fittings, and furniture included in the lease
3. Schedule C - House Rules: Building or property rules and regulations that the tenant must follow
4. Schedule D - Utility Rates: Current utility rates and calculation methods if charged separately
5. Schedule E - Maintenance Schedule: Regular maintenance schedule and responsibilities
6. Appendix 1 - Required Permits: Copies of relevant permits and certificates
7. Appendix 2 - Insurance Requirements: Detailed insurance requirements and minimum coverage amounts
8. Appendix 3 - Fit-out Guidelines: Technical specifications and guidelines for any permitted alterations
Authors
Real Estate
Retail
Office Space
Industrial
Hospitality
Education
Healthcare
Food and Beverage
Warehousing
Manufacturing
Professional Services
Technology
Legal
Real Estate
Facilities Management
Operations
Finance
Procurement
Risk and Compliance
Property Management
Business Development
Administrative Services
Property Manager
Real Estate Agent
Facilities Manager
Legal Counsel
Business Owner
Operations Manager
Corporate Real Estate Manager
Lease Administrator
Finance Director
Commercial Director
Procurement Manager
Real Estate Developer
Property Administrator
Compliance Officer
Risk Manager
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