The Buy Tenancy Agreement is a fundamental legal document used in Malaysian property transactions to establish and regulate the landlord-tenant relationship. This document is essential when property owners wish to rent out their premises while maintaining legal protection and clarity of terms. The agreement incorporates requirements from Malaysian legislation, including the National Land Code 1965, Contracts Act 1950, and other relevant property laws. It's designed to protect both parties' interests by clearly defining rental terms, payment obligations, maintenance responsibilities, and termination conditions. The document is commonly used in both residential and commercial contexts, and can be customized to address specific requirements while maintaining compliance with Malaysian legal framework. A properly executed Buy Tenancy Agreement is crucial for preventing disputes and ensuring smooth property rental operations in Malaysia.
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1. Parties: Identification and details of the landlord and tenant, including full names, identification numbers, and addresses
2. Background: Brief context of the rental arrangement and property ownership
3. Definitions: Definitions of key terms used throughout the agreement
4. Demised Premises: Detailed description of the rental property and its boundaries
5. Term and Possession: Duration of the tenancy, commencement date, and possession details
6. Rent and Payment Terms: Rental amount, payment schedule, and method of payment
7. Security Deposit: Amount, payment terms, and conditions for return of the security deposit
8. Utilities and Outgoings: Responsibility for utility payments and other ongoing expenses
9. Tenant's Covenants: Obligations and responsibilities of the tenant
10. Landlord's Covenants: Obligations and responsibilities of the landlord
11. Maintenance and Repairs: Responsibilities for property maintenance and repairs
12. Insurance: Requirements for property and content insurance
13. Termination: Conditions and procedures for ending the tenancy
14. Governing Law: Specification of Malaysian law as the governing law
15. Notices: Methods and addresses for serving notices between parties
1. Option to Renew: Terms for extending the tenancy period, used when offering renewal options
2. Subletting: Provisions regarding subletting rights, included when subletting might be permitted
3. Break Clause: Early termination provisions, included for longer-term tenancies
4. Quiet Enjoyment: Additional protections for tenant's peaceful occupation
5. Common Areas: Rules and access rights for shared facilities, used for properties with common areas
6. Permitted Use: Specific restrictions on property usage, important for commercial or mixed-use properties
7. Special Conditions: Any unique terms specific to the property or arrangement
8. Pet Clause: Rules regarding keeping pets, included when pets are allowed or specifically prohibited
1. Schedule 1 - Property Inventory: Detailed list of furnishings, fixtures, and fittings provided with the property
2. Schedule 2 - Property Condition Report: Detailed description of the property's condition at the start of tenancy
3. Schedule 3 - House Rules: Specific rules and regulations for the property, particularly relevant for managed properties
4. Schedule 4 - Utility Readings: Initial meter readings for utilities at the start of tenancy
5. Appendix A - Floor Plan: Layout and floor plan of the property
6. Appendix B - Photographs: Documentary photographs of the property condition
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