Release Of Rental Agreement Form for Malaysia

Release Of Rental Agreement Form Template for Malaysia

A Release of Rental Agreement Form under Malaysian law is a legal document that formally terminates a tenancy agreement between landlord and tenant, releasing both parties from their respective obligations under the original lease. This document, governed by Malaysian contract law and property legislation including the National Land Code 1965, establishes the terms of separation, handles the return of security deposits, addresses property condition issues, and documents the final settlement of any outstanding matters. It serves as a crucial protection for both parties by providing clear evidence of the agreed termination and preventing future disputes.

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What is a Release Of Rental Agreement Form?

The Release Of Rental Agreement Form is a critical document used in Malaysian property management when parties wish to formally terminate their existing rental arrangement. This document becomes necessary when both parties agree to end their rental relationship before the original lease term expires, when the lease naturally concludes, or when there's a need to document the formal closure of a rental arrangement. Governed by Malaysian property and contract law, including the National Land Code 1965 and Contracts Act 1950, this form typically includes provisions for the return of security deposits, confirmation of property condition, settlement of outstanding payments, and mutual release from future obligations. It provides legal protection for all parties by clearly documenting the termination terms and preventing potential future disputes.

What sections should be included in a Release Of Rental Agreement Form?

1. Parties: Identification of all parties involved - the landlord, tenant, and any guarantors

2. Background: References to the original tenancy agreement, including its date, property details, and key terms

3. Definitions: Definitions of key terms used in the release agreement

4. Release Terms: Clear statement of mutual release from obligations under the original tenancy agreement

5. Return of Security Deposit: Terms regarding the return or retention of the security deposit

6. Property Condition: Confirmation of the property's condition and any agreed deductions

7. Settlement of Outstanding Amounts: Agreement on any outstanding rent, utilities, or other payments

8. Keys and Property Access: Confirmation of return of all keys and property access devices

9. Execution: Signature blocks for all parties and witnessing requirements

What sections are optional to include in a Release Of Rental Agreement Form?

1. Dispute Resolution: Include when parties wish to specify how any future disputes relating to the release will be handled

2. Confidentiality: Include when parties want to keep the terms of the release private

3. Surviving Obligations: Include when certain obligations from the original agreement should survive the release

4. Third Party Rights: Include when there are guarantors or other third parties involved in the original agreement

5. Early Termination Fee: Include when the release involves payment of an early termination fee

What schedules should be included in a Release Of Rental Agreement Form?

1. Schedule 1 - Original Tenancy Agreement: Copy or key details of the original tenancy agreement being released

2. Schedule 2 - Property Inspection Report: Final inspection report documenting the condition of the property

3. Schedule 3 - Settlement Statement: Detailed breakdown of all financial settlements, including security deposit deductions

4. Appendix A - Handover Checklist: Checklist confirming return of keys, access cards, and completion of move-out requirements

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

Cost

Free to use
Relevant Industries

Real Estate

Property Management

Residential Housing

Commercial Property

Retail

Hospitality

Industrial

Office Space

Education

Healthcare

Relevant Teams

Legal

Real Estate

Property Management

Facilities Management

Operations

Asset Management

Contract Administration

Tenant Relations

Risk Management

Administration

Relevant Roles

Property Manager

Real Estate Manager

Leasing Manager

Legal Counsel

Facilities Manager

Asset Manager

Property Administrator

Tenant Relations Manager

Operations Manager

Contract Administrator

Real Estate Agent

Property Owner

Building 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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