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Long Term Tenancy Agreement Template for Philippines

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Key Requirements PROMPT example:

Long Term Tenancy Agreement

"I need a Long Term Tenancy Agreement for a commercial office space in Makati City, Philippines, starting March 1, 2025, with a 5-year term and option to renew for another 3 years, including provisions for annual rent escalation and fit-out works."

Document background
The Long Term Tenancy Agreement is a crucial legal instrument used in the Philippines for establishing extended rental arrangements between property owners and occupants. This document is particularly relevant when parties seek to create a stable, long-term leasing relationship, typically extending beyond one year. It addresses key aspects required under Philippine law, including compliance with the Rent Control Act (RA 9653), Civil Code provisions, and local government regulations. The agreement is commonly used for commercial, industrial, or residential properties where significant investment or business continuity is required. It includes detailed provisions for rent adjustments, maintenance obligations, improvement rights, and termination conditions, while incorporating necessary safeguards for both landlord and tenant interests under Philippine jurisdiction.
Suggested Sections

1. Parties: Identification and details of the Landlord and Tenant, including complete addresses and tax identification numbers as required by Philippine law

2. Background: Context of the agreement and brief description of the property

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

4. Demise: Formal grant of lease and description of the property being leased

5. Term: Duration of the lease, including start and end dates, and any option periods

6. Rent and Security Deposit: Rental amount, payment terms, security deposit requirements, and annual escalation provisions in compliance with RA 9653

7. Utilities and Outgoings: Responsibility for payment of utilities, maintenance fees, and other charges

8. Use of Premises: Permitted use of the property and any restrictions

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

10. Landlord's Covenants: Obligations and warranties of the landlord

11. Tenant's Covenants: Obligations and warranties of the tenant

12. Insurance: Required insurance coverage for both parties

13. Assignment and Subletting: Provisions regarding the tenant's right to assign or sublet the property

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

15. Termination: Grounds and procedures for early termination

16. Notices: Process for sending formal notices between parties

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

18. Miscellaneous: Standard boilerplate provisions including severability, entire agreement, and amendments

Optional Sections

1. Fit-out Works: Include when tenant is permitted to make improvements or modifications to the property

2. Break Clause: Include when parties agree to early termination rights after a specific period

3. Force Majeure: Include specific provisions for natural disasters or other unforeseen circumstances, particularly relevant given Philippines' geographic location

4. Option to Renew: Include when tenant is granted right to extend the lease term

5. VAT and Withholding Tax: Include detailed tax provisions when either party is VAT-registered or subject to specific tax requirements

6. Property Management: Include when property is part of a managed building or complex

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

8. Common Areas: Include for properties in multi-tenant buildings or complexes

Suggested Schedules

1. Schedule 1 - Property Description: Detailed description of the property including floor plans and measurements

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

3. Schedule 3 - House Rules: Building or property rules and regulations

4. Schedule 4 - Rent Payment Schedule: Detailed breakdown of rent payments including escalation rates

5. Schedule 5 - Fit-out Guidelines: Technical specifications and requirements for any permitted modifications

6. Schedule 6 - Handover and Return Condition: Specifications for property condition at start and end of lease

7. Schedule 7 - Utility Meters: Initial meter readings and meter numbers for utilities

8. Appendix A - Required Permits: List of permits and licenses required for property use

9. Appendix B - Insurance Requirements: Detailed insurance specifications and minimum coverage requirements

Authors

Alex Denne

Head of Growth (Open Source Law) @ 抖阴短视频 | 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

Commercial Property

Residential Property

Retail

Manufacturing

Industrial

Office Space

Healthcare

Education

Hospitality

Logistics

Banking and Finance

Technology

Professional Services

Relevant Teams

Legal

Real Estate

Facilities Management

Operations

Finance

Compliance

Administration

Property Management

Asset Management

Risk Management

Corporate Services

Business Development

Relevant Roles

Real Estate Manager

Property Manager

Facilities Manager

Legal Counsel

Corporate Lawyer

Operations Director

Chief Financial Officer

Business Development Manager

Real Estate Broker

Leasing Manager

Contract Administrator

Compliance Officer

Real Estate Director

Asset Manager

General Counsel

Office Manager

Location Manager

Finance Director

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, 聽Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination, 聽Severance Pay, Governing Law, Entire Agreemen

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