The Short Term Lease Addendum serves as a crucial legal instrument in the Philippine real estate sector, designed to modify existing lease agreements without the need for completely new contracts. This document type is particularly valuable when parties need to make temporary or specific changes to their lease terms, such as extending the lease period, adjusting rental rates, or modifying usage conditions. It must comply with Philippine property laws, including the Civil Code of the Philippines and the Rent Control Act of 2022, while ensuring all modifications are clearly documented and legally enforceable. The addendum is commonly used in both residential and commercial contexts, providing a streamlined approach to lease modifications while maintaining legal protection for all parties involved.
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1. Parties: Identification of the lessor and lessee, matching the parties in the original lease agreement
2. Background: Reference to the original lease agreement including its date and key details, and brief context for the addendum
3. Definitions: Key terms used in the addendum, including reference to definitions from the original lease that remain applicable
4. Term Modification: Specific changes to the lease duration, including new start and end dates if applicable
5. Amendments to Original Terms: Clear articulation of which specific provisions of the original lease are being modified
6. Continuing Validity: Statement confirming that all other terms of the original lease remain in full force and effect
7. Governing Law: Confirmation that the addendum is governed by Philippine law and specific local regulations
8. Execution: Signature block for all parties, including date and witness provisions as required by Philippine law
1. Rental Rate Adjustment: Include when the addendum modifies the rental amount or payment terms
2. Additional Occupants: Include when adding or removing authorized occupants from the original lease
3. Property Modifications: Include when allowing or restricting specific modifications to the property
4. Additional Services: Include when adding or removing services provided by the lessor
5. Security Deposit Changes: Include when modifying security deposit terms or amounts
6. Special Conditions: Include when adding specific conditions not covered in the original lease
7. Insurance Requirements: Include when modifying insurance obligations of either party
1. Schedule A - Modified Payment Terms: Detailed breakdown of any changes to rent, fees, or payment schedules
2. Schedule B - Property Modification Details: Specifications of any approved changes to the property
3. Schedule C - Updated Property Inventory: List of any additions or removals from the property inventory
4. Appendix 1 - Consent Forms: Required consent forms from relevant parties (e.g., building management, mortgage holder)
5. Appendix 2 - Supporting Documentation: Any relevant permits, certificates, or other documents supporting the modifications
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Real Estate
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Industrial
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Mixed-Use Development
Student Housing
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Relevant Teams
Legal
Real Estate
Property Management
Operations
Facilities
Asset Management
Compliance
Administrative
Contract Management
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Relevant Roles
Property Manager
Real Estate Manager
Leasing Agent
Property Administrator
Facilities Manager
Legal Counsel
Contracts Administrator
Asset Manager
Real Estate Director
Operations Manager
Compliance Officer
Property Coordinator
Tenant Relations Manager
Real Estate Paralegal
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