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Long Term Rental Agreement
"I need a Long Term Rental Agreement for a commercial office space in Makati City, Philippines, starting March 1, 2025, with specific provisions for IT infrastructure installations and 24/7 operation permissions."
1. Parties: Identification and details of the Lessor and Lessee, including complete legal names, addresses, and contact information
2. Background: Context of the rental agreement, brief description of the property, and purpose of the lease
3. Definitions: Definitions of key terms used throughout the agreement
4. Property Description: Detailed description of the rental property, including address and specific inclusions/exclusions
5. Term and Renewal: Duration of the lease, commencement date, expiration date, and renewal terms
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 Services: Responsibility for utilities, maintenance services, and related charges
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. Insurance and Liability: Insurance requirements and allocation of risks between parties
12. Default and Remedies: Events of default and available remedies for both parties
13. Termination: Grounds for termination and required procedures
14. Governing Law: Specification of Philippine law as governing law and jurisdiction
15. Notices: Method and addresses for official communications between parties
16. Execution: Signature blocks and execution requirements
1. Subletting and Assignment: Include when subletting or assignment rights are to be granted or specifically prohibited
2. Fit-out and Alterations: Include for commercial properties or when significant modifications are anticipated
3. Common Areas: Include for properties in multi-unit buildings or complexes
4. Force Majeure: Include specific provisions for unforeseen circumstances, particularly relevant post-COVID
5. Property Management: Include when a property manager is involved
6. Special Uses: Include for properties with specific permitted commercial or mixed-use purposes
7. Environmental Compliance: Include for industrial or commercial properties with environmental considerations
8. Pest Control: Include for residential properties or when specific pest issues need addressing
9. Parking: Include when parking spaces are part of the lease
10. Security Measures: Include for properties requiring specific security arrangements
1. Schedule 1 - Property Details: Detailed description of the property including floor plans, boundaries, and included fixtures
2. Schedule 2 - Inventory List: Detailed list of furniture, appliances, and other items included in the lease
3. Schedule 3 - Condition Report: Detailed report of the property's condition at the start of the lease
4. Schedule 4 - House Rules: Building or complex rules and regulations
5. Schedule 5 - Maintenance Schedule: Schedule of regular maintenance tasks and responsibilities
6. Schedule 6 - Utility Agreements: Details of utility arrangements and payment responsibilities
7. Appendix A - Required Permits: Copies of relevant permits and certificates
8. Appendix B - Insurance Requirements: Detailed insurance requirements and specifications
9. Appendix C - Payment Schedule: Detailed breakdown of rent, deposits, and other payments
10. Appendix D - Photo Documentation: Photographs of the property condition at commencement of lease
Authors
Real Estate
Residential Property
Commercial Property
Retail
Industrial
Office Space
Hospitality
Healthcare
Education
Manufacturing
Legal
Real Estate
Facilities Management
Operations
Administration
Compliance
Property Management
Asset Management
Corporate Services
Risk Management
Real Estate Manager
Property Manager
Facilities Manager
Legal Counsel
Corporate Real Estate Director
Operations Manager
Administrative Manager
Compliance Officer
Real Estate Broker
Asset Manager
Leasing Manager
Property Administrator
Real Estate Attorney
Business Development Manager
Regional Property Director
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