Lease Renewal Agreement for Malaysia

Lease Renewal Agreement Template for Malaysia

A comprehensive legal document governed by Malaysian law that formalizes the extension of an existing lease agreement between a landlord and tenant. This agreement outlines the renewed terms and conditions, including the extended duration, revised rental rates, and any modifications to the original lease terms. It ensures compliance with the National Land Code 1965, Contracts Act 1950, and other relevant Malaysian legislation, while providing legal protection and clarity for all parties involved in the continued lease arrangement.

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What is a Lease Renewal Agreement?

The Lease Renewal Agreement is a crucial document used when parties wish to extend an existing lease arrangement in Malaysia. It serves as a formal continuation of the landlord-tenant relationship, incorporating both existing and new terms while ensuring compliance with Malaysian property laws, particularly the National Land Code 1965 and the Contracts Act 1950. This document is essential when the original lease term is approaching expiration and both parties agree to continue their relationship under either the same or modified terms. The agreement typically includes updated rental rates, the new lease duration, any revised terms, and confirmations of existing conditions. It provides legal certainty and protection for all parties while maintaining the continuity of the lease relationship.

What sections should be included in a Lease Renewal Agreement?

1. Parties: Identification of the landlord and tenant with their full legal names, registration/identification numbers, and addresses

2. Background: Recitals detailing the original lease agreement, its date, and the parties' intention to renew the lease

3. Definitions: Definition of key terms used in the agreement, including references to terms defined in the original lease

4. Renewal Term: Specification of the new lease period, including commencement and expiry dates

5. Rent and Payment Terms: Details of the renewed rental amount, payment schedule, and any adjustments from the original lease

6. Security Deposit: Confirmation of existing security deposit or requirements for additional deposit

7. Continuation of Original Terms: Confirmation that all other terms and conditions from the original lease remain in effect

8. Amendments to Original Terms: Clear statement of any modifications to the original lease terms

9. Execution: Signature blocks for all parties and witnesses

What sections are optional to include in a Lease Renewal Agreement?

1. Renovation and Maintenance: Include when there are specific agreements about property improvements or maintenance responsibilities for the renewal period

2. Option to Renew: Include when parties agree to include an option for further renewal beyond this renewal term

3. Insurance Requirements: Include when there are changes to insurance obligations or new insurance requirements

4. Guarantor Confirmation: Include when the original lease had a guarantor who needs to confirm continued guarantee for the renewal period

5. Green Lease Provisions: Include when parties agree to incorporate environmental sustainability requirements

6. Covid-19 or Force Majeure Provisions: Include when parties want specific provisions for pandemic or other force majeure events

What schedules should be included in a Lease Renewal Agreement?

1. Schedule 1 - Property Details: Detailed description of the leased property including address and any included fixtures/fittings

2. Schedule 2 - Rent Schedule: Detailed breakdown of rent payments, including any progressive increases during the renewal term

3. Schedule 3 - Special Conditions: Any specific terms or conditions unique to this renewal

4. Appendix A - Original Lease Agreement: Copy of the original lease agreement for reference

5. Appendix B - Property Condition Report: Updated condition report of the property at the time of renewal

6. Appendix C - Authorized Modifications: List of any approved alterations or improvements to be made during the renewal term

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Malaysia

Publisher

Genie AI

Document Type

Agreement Contract

Cost

Free to use
Relevant Industries

Real Estate

Commercial Property

Retail

Industrial

Residential Property

Office Space

Hospitality

Manufacturing

Warehousing

Healthcare

Education

Relevant Teams

Legal

Real Estate

Facilities Management

Operations

Finance

Compliance

Property Management

Asset Management

Contract Administration

Business Development

Relevant Roles

Property Manager

Facilities Manager

Real Estate Manager

Legal Counsel

Contract Administrator

Business Operations Manager

Chief Financial Officer

Asset Manager

Leasing Manager

Commercial Director

Real Estate Director

Compliance Officer

Property Administrator

Tenant Relations Manager

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,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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