Business Rental Agreement Template for Nigeria

1. Parties: Identification and details of the landlord and tenant, including registration numbers for businesses

2. Background: Context of the agreement and brief description of the property and intended use

3. Definitions: Definitions of key terms used throughout the agreement

4. Property Description: Detailed description of the rented premises, including address and boundaries

5. Term and Renewal: Duration of the lease, commencement date, and renewal terms

6. Rent and Payment Terms: Rental amount, payment schedule, and method of payment

7. Security Deposit: Amount, terms of holding, and conditions for return of security deposit

8. Utilities and Services: Responsibilities for utilities, maintenance, and service charges

9. Use of Premises: Permitted business activities and restrictions on use

10. Maintenance and Repairs: Responsibilities of each party for maintaining the property

11. Insurance: Required insurance coverage for both parties

12. Default and Remedies: Consequences of breach and available remedies

13. Termination: Conditions and procedures for ending the agreement

14. Governing Law: Specification of Nigerian law as governing law and jurisdiction

15. Execution: Signature blocks and execution requirements

1. Schedule 1: Property Plan: Detailed floor plan and measurements of the premises

2. Schedule 2: Inventory: List of fixtures, fittings, and equipment included in the lease

3. Schedule 3: Service Charges: Breakdown of service charges and calculation method

4. Schedule 4: Building Rules: Specific rules and regulations for the building or complex

5. Schedule 5: Maintenance Schedule: Detailed maintenance responsibilities and schedules

6. Appendix A: Condition Report: Initial condition of the property with photographs

7. Appendix B: Required Permits: Copies of necessary business permits and licenses

8. Appendix C: Insurance Requirements: Detailed insurance specifications and minimum coverage requirements