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Fixed Term Lease Agreement
"I need a Fixed Term Lease Agreement for a commercial office space in Makati City, Philippines, starting January 1, 2025, for a 3-year term, with specific provisions for tenant improvements and an option to renew for two additional years."
1. Parties: Identification and details of the Landlord and Tenant, including complete names, addresses, and contact information
2. Background: Brief context of the lease arrangement and property ownership
3. Definitions: Key terms used throughout the agreement defined for clarity
4. Property Details: Complete description of the leased property, including address and specific inclusions
5. Term and Commencement: Duration of the lease and start date, with specific end date as required for fixed-term leases
6. Rent and Payment Terms: Rental amount, payment schedule, method of payment, and late payment provisions
7. Security Deposit: Amount, terms of holding, and conditions for return of the security deposit
8. Utilities and Other Charges: Responsibility for utility payments and other associated costs
9. Use of Property: Permitted use of the property and any restrictions
10. Maintenance and Repairs: Responsibilities of both parties regarding property maintenance and repairs
11. Landlord's Obligations: Specific duties and responsibilities of the landlord
12. Tenant's Obligations: Specific duties and responsibilities of the tenant
13. Insurance: Required insurance coverage and responsibilities
14. Default and Remedies: Consequences of breach and available remedies
15. Termination: Conditions and process for early termination
16. Governing Law: Specification of Philippine law as governing law and jurisdiction
17. Execution: Signature blocks and execution requirements
1. Subletting and Assignment: Include when subletting or assignment might be permitted under specific conditions
2. Improvements and Alterations: Include when tenant is allowed to make modifications to the property
3. Property Management: Include when a property manager is involved in managing the lease
4. Common Areas: Include for properties in multi-unit buildings or complexes
5. Parking: Include when parking spaces are part of the lease
6. Pets: Include when pets are allowed or specifically prohibited
7. Force Majeure: Include specific provisions for unforeseen circumstances, particularly relevant post-COVID
8. Option to Renew: Include when offering the tenant an option to extend the lease term
9. Right of First Refusal: Include when giving tenant priority rights to purchase or lease additional space
1. Schedule 1 - Property Inventory: Detailed list of furniture, fixtures, and equipment included in the lease
2. Schedule 2 - Property Condition Report: Detailed assessment of property condition at commencement of lease
3. Schedule 3 - House Rules: Specific rules and regulations for the property or building
4. Schedule 4 - Utility Reading Records: Initial utility meter readings at handover
5. Schedule 5 - Maintenance Schedule: Regular maintenance schedule and responsibilities
6. Appendix A - Floor Plan: Detailed floor plan of the leased property
7. Appendix B - Photographic Evidence: Photos documenting property condition at lease start
8. Appendix C - Building Permits and Certificates: Copies of relevant permits and safety certificates
Authors
Real Estate
Residential Property
Commercial Property
Retail
Office Space
Industrial
Hospitality
Mixed-Use Development
Agriculture
Education
Healthcare
Legal
Real Estate
Facilities Management
Operations
Property Management
Compliance
Contract Administration
Asset Management
Risk Management
Finance
Property Manager
Real Estate Agent
Leasing Manager
Facilities Manager
Legal Counsel
Contract Administrator
Real Estate Director
Asset Manager
Property Administrator
Compliance Officer
Real Estate Broker
Building Manager
Operations Manager
Tenant Relations Manager
Real Estate Partner
Property Legal Advisor
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