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Contract For Rental Space Template for Philippines

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Key Requirements PROMPT example:

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."

Document background
The Contract For Rental Space is a fundamental legal document used in the Philippines real estate market to establish and govern the relationship between property owners (lessors) and tenants (lessees). This agreement is essential when any party wishes to rent out or lease property space, whether for residential, commercial, or industrial purposes. The document must comply with Philippine legal requirements, including the Civil Code of the Philippines, the Rent Control Act, and various local government regulations. It typically includes comprehensive terms covering rent payment, security deposits, maintenance obligations, utilities, permitted use, and termination conditions. The contract serves as a crucial tool for protecting the interests of both parties while ensuring clear understanding of their respective rights and responsibilities under Philippine law.
Suggested Sections

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

Optional Sections

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

Suggested Schedules

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

Alex Denne

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

Relevant legal definitions














































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Relevant Industries

Real Estate

Retail

Office Space

Industrial

Hospitality

Education

Healthcare

Food and Beverage

Warehousing

Manufacturing

Professional Services

Technology

Relevant Teams

Legal

Real Estate

Facilities Management

Operations

Finance

Procurement

Risk and Compliance

Property Management

Business Development

Administrative Services

Relevant Roles

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

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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