Fixed Term Lease Agreement for Nigeria

Fixed Term Lease Agreement Template for Nigeria

A comprehensive legal document governed by Nigerian law that establishes a fixed-term tenancy relationship between a landlord and tenant. The agreement details the terms and conditions of the lease, including rent payment terms, duration, maintenance responsibilities, and obligations of both parties. It incorporates relevant provisions from Nigerian property law, including the Recovery of Premises Act and applicable state-specific tenancy laws, while ensuring compliance with local property regulations and registration requirements. The document provides clear guidelines for property usage, maintenance obligations, and dispute resolution procedures within the Nigerian legal framework.

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What is a Fixed Term Lease Agreement?

The Fixed Term Lease Agreement is a crucial legal document used in Nigeria when establishing a definite period tenancy relationship between property owners and tenants. It serves as the primary contract governing both residential and commercial property leases, incorporating essential elements required under Nigerian property law and state-specific regulations. This document is particularly important as it provides certainty of term and clearly defined obligations for both parties, making it suitable for various leasing scenarios from residential properties to commercial spaces. The agreement includes comprehensive provisions covering rent, maintenance, utilities, security deposits, and termination conditions, while ensuring compliance with local property laws, including the Recovery of Premises Act and relevant state tenancy laws. It's designed to protect both landlord and tenant interests while providing a clear framework for the leasing relationship throughout the fixed term period.

What sections should be included in a Fixed Term Lease Agreement?

1. Parties: Identification and details of the landlord and tenant, including full legal names, addresses, and contact information

2. Background: Brief context of the lease arrangement and property ownership

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

4. Demise: Formal grant of the lease and description of the property being leased

5. Term: Duration of the lease, including start and end dates

6. Rent: Rent amount, payment terms, method of payment, and due dates

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

8. Utilities and Services: Responsibilities for utilities, services, and associated charges

9. Tenant's Covenants: Tenant's obligations including maintenance, permitted use, and conduct

10. Landlord's Covenants: Landlord's obligations including repairs, insurance, and quiet enjoyment

11. Insurance: Required insurance coverage and responsibilities of each party

12. Termination: Circumstances and procedures for lease termination

13. Notices: Process and addresses for serving formal notices

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

15. Execution: Signature blocks and execution formalities

What sections are optional to include in a Fixed Term Lease Agreement?

1. Assignment and Subletting: Include when the landlord wishes to specify conditions for transferring the lease or subletting

2. Alterations and Improvements: Include when specific provisions are needed for modifications to the property

3. Break Clause: Include when early termination options are to be provided

4. Rent Review: Include for longer leases where periodic rent adjustments are contemplated

5. Force Majeure: Include when specific provisions for unforeseen circumstances are required

6. Option to Renew: Include when giving the tenant an option to extend the lease

7. Guarantor Provisions: Include when a guarantor is required for the tenant's obligations

8. Special Conditions: Include when there are property-specific requirements or restrictions

What schedules should be included in a Fixed Term Lease Agreement?

1. Schedule 1 - Property Description: Detailed description of the leased property including boundaries and floor plans

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

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

4. Schedule 4 - House Rules: Building regulations and conduct rules

5. Schedule 5 - Maintenance Schedule: Detailed breakdown of maintenance responsibilities

6. Appendix A - Property Photos: Photographic evidence of property condition at lease start

7. Appendix B - Required Permits: Copies of relevant permits and certificates

8. Appendix C - Utilities Reading: Initial utility meter readings at commencement of lease

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

Nigeria

Publisher

Genie AI

Document Type

Rental Agreement

Cost

Free to use
Relevant legal definitions
Clauses
Relevant Industries

Real Estate

Residential Property

Commercial Property

Retail

Industrial

Hospitality

Education

Healthcare

Professional Services

Manufacturing

Warehousing

Office Space

Relevant Teams

Legal

Real Estate

Facilities Management

Operations

Risk & Compliance

Administrative

Property Management

Asset Management

Business Development

Finance

Relevant Roles

Property Manager

Real Estate Manager

Facilities Manager

Legal Counsel

Contract Manager

Operations Manager

Asset Manager

Real Estate Agent

Property Administrator

Leasing Manager

Corporate Real Estate Manager

Risk Manager

Compliance Officer

General Counsel

Business Development 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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