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Lease Addendum For Rent Increase

Lease Addendum For Rent Increase Template for Malaysia

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Key Requirements PROMPT example:

Lease Addendum For Rent Increase

"I need a Lease Addendum For Rent Increase for my commercial property in Kuala Lumpur, implementing a 15% rent increase effective March 1, 2025, with specific provisions for quarterly advance payments and an adjusted security deposit."

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Document background
The Lease Addendum For Rent Increase is a crucial document in Malaysian property management and leasing operations, designed to formally document and implement changes to rental amounts in existing lease agreements. This document becomes necessary when property owners wish to increase rent in accordance with market conditions, while ensuring compliance with Malaysian property laws and regulations, including the National Land Code 1965 and state-specific requirements. The addendum serves as an official modification to the original lease, specifying the new rental amount, effective date, and any related terms without altering other aspects of the original agreement. It is commonly used in both residential and commercial contexts, requiring proper execution and stamping under Malaysian law to be legally enforceable. The document provides protection for both landlords and tenants by clearly documenting the agreed changes and maintaining transparency in the rental relationship.
Suggested Sections

1. Parties: Identification of landlord and tenant(s) with full legal names and addresses as they appear on the original lease

2. Background: Reference to the original lease agreement including its date, property address, and current rental amount

3. Definitions: Key terms used in the addendum, ensuring consistency with the original lease definitions

4. Rent Increase Details: Specific statement of the new rental amount and the effective date of the increase

5. Confirmation of Other Terms: Statement confirming that all other terms and conditions of the original lease remain unchanged

6. Execution: Signature blocks for all parties, including date of signing and witness provisions as required by Malaysian law

Optional Sections

1. Payment Method Updates: Include when there are changes to how the new rent amount should be paid

2. Notice Period Confirmation: Include when specific notice periods for the increase need to be acknowledged

3. Utilities and Service Charges: Include when changes to rent affect related utility or service charge calculations

4. Security Deposit Adjustment: Include when the security deposit needs to be increased proportionally with the rent

5. Rent Review Mechanism: Include when establishing a framework for future rent reviews

Suggested Schedules

1. Schedule A - Rent Calculation: Detailed breakdown of how the new rent amount was calculated, including any applicable market comparisons or formulas used

2. Schedule B - Payment Schedule: Timeline of the rent increase implementation, including any gradual increase stages if applicable

3. Appendix 1 - Notice of Rent Increase: Copy of the formal notice of rent increase previously served to the tenant

4. Appendix 2 - Original Lease Reference: Key excerpts from the original lease relevant to rent increases and modifications

Authors

Alex Denne

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

alex.den.21@genieai.co
Relevant legal definitions
















Clauses











Relevant Industries

Real Estate

Residential Property

Commercial Property

Retail

Office Space

Industrial Property

Property Management

Legal Services

Property Investment

Relevant Teams

Legal

Real Estate

Property Management

Operations

Asset Management

Facilities Management

Contract Administration

Compliance

Property Operations

Relevant Roles

Property Manager

Real Estate Manager

Leasing Manager

Legal Counsel

Property Administrator

Asset Manager

Facilities Manager

Real Estate Agent

Property Owner

Lease Administrator

Contract Manager

Property Operations 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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