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Fixed Term Lease Rental Agreement Template for Philippines

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Key Requirements PROMPT example:

Fixed Term Lease Rental Agreement

"I need a Fixed Term Lease Rental Agreement for a commercial office space in Makati City, Philippines, starting March 1, 2025, for a 3-year term, with specific provisions for tenant improvements and an option to renew for two additional years."

Document background
The Fixed Term Lease Rental Agreement is a crucial legal instrument used in the Philippines for establishing temporary property rights between property owners and tenants. This document is essential when parties wish to create a defined-period rental arrangement, whether for residential, commercial, or industrial purposes. It must comply with Philippine legal requirements, particularly the Civil Code of the Philippines and the Rent Control Act of 2022, while addressing specific terms such as rental payments, security deposits, maintenance obligations, and property use restrictions. The agreement provides legal protection for both parties and serves as a reference document for the duration of the lease term, incorporating both mandatory legal requirements and customary commercial practices in the Philippine real estate market.
Suggested Sections

1. Parties: Identification and details of the Lessor and Lessee, including complete legal names, addresses, and contact information

2. Background: Context of the lease agreement, including brief description of the property and purpose of the lease

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

4. Property Description: Detailed description of the leased premises, including exact address and boundaries

5. Term and Commencement: Duration of the lease, start date, and end date

6. Rent and Payment Terms: Rental amount, payment schedule, method of payment, and late payment penalties

7. Security Deposit: Amount, terms of holding, and conditions for return of the security deposit

8. Utilities and Services: Responsibility for utilities, maintenance, and other services

9. Use of Property: Permitted use of the property and any restrictions

10. Maintenance and Repairs: Responsibilities of both parties regarding property maintenance and repairs

11. Lessor's Obligations: Legal obligations and commitments of the property owner

12. Lessee's Obligations: Legal obligations and commitments of the tenant

13. Insurance: Required insurance coverage and responsibilities

14. Default and Remedies: Events of default and available remedies for both parties

15. Termination: Conditions and procedures for early termination

16. Governing Law: Specification of Philippine law as governing law and jurisdiction

17. Notices: Process and addresses for formal communications between parties

18. Execution: Signature blocks and execution requirements

Optional Sections

1. Subleasing: Include when subleasing is permitted, specifying conditions and approval requirements

2. Renovations and Improvements: Include when tenant is allowed to make modifications to the property

3. Option to Renew: Include when offering the tenant an option to extend the lease term

4. Right of First Refusal: Include when giving tenant priority rights to purchase or lease additional space

5. Force Majeure: Include specific provisions for unforeseen circumstances, particularly relevant post-COVID

6. Pet Policy: Include for residential leases where pets may be permitted

7. Parking Rights: Include when parking spaces are part of the lease

8. Common Areas: Include for properties with shared facilities or spaces

9. Building Rules: Include for properties within managed buildings or complexes

Suggested Schedules

1. Schedule 1 - Property Floor Plan: Detailed floor plan and measurements of the leased premises

2. Schedule 2 - Inventory List: List of furniture, fixtures, and equipment included in the lease

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 property or building complex

5. Schedule 5 - Utility Agreements: Specific arrangements for utility connections and payments

6. Schedule 6 - Maintenance Schedule: Regular maintenance requirements and schedule

7. Appendix A - Photo Documentation: Photographs of property condition at lease commencement

8. Appendix B - Required Permits: Copies of relevant permits and certificates

9. Appendix C - Insurance Requirements: Detailed insurance specifications and requirements

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

















































Clauses









































Relevant Industries

Real Estate

Retail

Commercial Office Space

Industrial

Residential Property

Hospitality

Healthcare

Education

Warehousing and Logistics

Manufacturing

Agriculture

Relevant Teams

Legal

Real Estate

Facilities Management

Operations

Finance

Administration

Risk and Compliance

Property Management

Asset Management

Business Development

Procurement

Relevant Roles

Property Manager

Real Estate Manager

Facilities Manager

Legal Counsel

Corporate Counsel

Real Estate Agent

Leasing Manager

Operations Manager

Asset Manager

Business Development Manager

Contract Administrator

Compliance Officer

Risk Manager

Finance Manager

Chief Financial Officer

Chief Operating Officer

Administrative Manager

Property Administrator

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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