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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."
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
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
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
Real Estate
Retail
Commercial Office Space
Industrial
Residential Property
Hospitality
Healthcare
Education
Warehousing and Logistics
Manufacturing
Agriculture
Legal
Real Estate
Facilities Management
Operations
Finance
Administration
Risk and Compliance
Property Management
Asset Management
Business Development
Procurement
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
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