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Commercial Real Estate Lease Agreement Template for Philippines

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Key Requirements PROMPT example:

Commercial Real Estate Lease Agreement

"I need a Commercial Real Estate Lease Agreement for a retail space in Manila's Makati district, with a 5-year term starting March 2025, including provisions for extensive fit-out work and signage rights for a luxury boutique."

Document background
The Commercial Real Estate Lease Agreement is a vital legal instrument used in the Philippines when a property owner (lessor) agrees to rent out commercial space to a business tenant (lessee). This document is essential for any business seeking to establish operations in leased premises, whether for retail, office, industrial, or other commercial purposes. It must comply with Philippine legal requirements, including the Civil Code of the Philippines, the Real Estate Service Act, and local government regulations. The agreement typically covers crucial aspects such as lease term, rental amounts, maintenance obligations, permitted use, and various other commercial terms. It provides legal protection for both parties while ensuring clarity in their business relationship. This type of agreement is particularly important in the Philippine context, where commercial real estate transactions must address specific local requirements such as proper notarization, tax implications, and local government permits.
Suggested Sections

1. Parties: Identification of the Lessor and Lessee with complete legal names, addresses, and tax identification numbers

2. Background: Context of the lease agreement, including brief description of the property and parties' intention to enter into a lease arrangement

3. Definitions: Definitions of key terms used throughout the agreement, including 'Premises', 'Commencement Date', 'Term', 'Rent', etc.

4. Demise and Term: Specific details of what is being leased and for how long, including any renewal options

5. Rent and Other Payments: Rental amount, payment schedule, security deposit, advance rent, and other financial obligations

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

7. Maintenance and Repairs: Responsibilities of both parties regarding property maintenance, repairs, and improvements

8. Utilities and Services: Responsibilities for utilities, services, and associated costs

9. Insurance and Liability: Required insurance coverage and allocation of risks between parties

10. Assignment and Subletting: Rules and restrictions regarding transfer of lease rights or subletting

11. Default and Remedies: Events of default and corresponding remedies available to either party

12. Termination: Conditions and procedures for early termination of the lease

13. Governing Law and Dispute Resolution: Application of Philippine law and methods for resolving disputes

14. Notices: Process and requirements for formal communications between parties

15. Execution: Signature blocks and notarization requirements under Philippine law

Optional Sections

1. Fit-out Period: Terms regarding initial renovation or fit-out period, used when premises require tenant improvements before occupancy

2. Common Areas: Rules and cost sharing for common areas, included when property is part of a larger complex or building

3. Signage Rights: Terms regarding external and internal signage, important for retail or prominent commercial locations

4. Parking: Allocation and terms of parking spaces, included when parking is available

5. Force Majeure: Provisions for unforeseen circumstances, particularly relevant post-COVID

6. Environmental Compliance: Special environmental obligations, necessary for industrial or specialized commercial uses

7. Operating Hours: Restrictions on business hours, relevant for retail or properties in mixed-use developments

8. Security Arrangements: Special security requirements, important for high-value or sensitive locations

Suggested Schedules

1. Schedule 1 - Property Details: Detailed description of the premises including floor plans and technical specifications

2. Schedule 2 - Rent Schedule: Detailed breakdown of rent payments, escalations, and other recurring charges

3. Schedule 3 - Condition Report: Documentation of property condition at commencement of lease

4. Schedule 4 - House Rules: Building or property complex rules and regulations

5. Schedule 5 - Fit-out Guidelines: Technical specifications and requirements for any tenant improvements

6. Schedule 6 - Service Charges: Breakdown of service charges and building maintenance fees

7. Schedule 7 - Handover Inventory: List of any furnishings, fixtures, or equipment included in the lease

8. Appendix A - Required Permits: List of necessary government permits and licenses

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

Authors

Alex Denne

Head of Growth (Open Source Law) @ 黑料视频 | 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

Retail

Office Space

Industrial

Hospitality

Healthcare

Banking and Financial Services

Technology

Manufacturing

Logistics and Warehousing

Food and Beverage

Education

Professional Services

Relevant Teams

Legal

Finance

Operations

Facilities Management

Real Estate

Risk and Compliance

Procurement

Business Development

Administration

Corporate Services

Relevant Roles

Chief Executive Officer

Chief Financial Officer

Chief Operating Officer

Real Estate Manager

Facilities Manager

Property Manager

Legal Counsel

Corporate Lawyer

Business Development Manager

Operations Manager

Finance Director

Procurement Manager

Real Estate Director

Expansion Manager

Store Manager

Branch Manager

Risk Manager

Compliance Officer

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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