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The Condo Lease Agreement is a vital legal instrument used in the Philippine real estate market for formalizing condominium unit rentals. This document is essential when property owners wish to lease their condominium units to tenants, whether for residential or commercial purposes. It incorporates provisions required by Philippine law, including compliance with the Civil Code, the Condominium Act (RA 4726), and the Maceda Law (RA 6552). The agreement is structured to protect both lessor and lessee interests, covering crucial aspects such as rental terms, security deposits, maintenance obligations, and adherence to condominium corporation rules. It's particularly important in urban areas like Metro Manila, Cebu, and other major Philippine cities where condominium living is prevalent. The document serves as a comprehensive framework for managing the lessor-lessee relationship while ensuring compliance with local property laws and regulations.

1. Parties: Identification of the lessor (landlord) and lessee (tenant) with complete legal names and addresses

2. Background: Brief context about the condominium unit and the parties' intention to enter into a lease agreement

3. Definitions: Definitions of key terms used throughout the agreement including 'Premises', 'Common Areas', 'Association Dues', etc.

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

5. Term and Renewal: Duration of the lease, commencement date, and conditions for renewal

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 Association Dues: Responsibility for utility payments and condominium association dues

9. Use of Premises: Permitted use of the unit and restrictions on its use

10. Maintenance and Repairs: Responsibilities of both parties regarding unit maintenance and repairs

11. House Rules: Compliance with condominium corporation rules and regulations

12. Insurance: Required insurance coverage and responsibilities of each party

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

14. Termination: Grounds and procedures for early termination of the lease

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

16. Signatures: Execution block for all parties and witnesses