This 1 Year Lease Agreement template is designed for use in the Philippine jurisdiction, providing a legally compliant framework for both residential and commercial property rentals. The document incorporates essential elements required by Philippine property law, including the Civil Code of the Philippines and the Rent Control Act of 2020. It is suitable for various property types and can be used by individual landlords, property management companies, or corporate entities. The agreement includes comprehensive provisions for rent payment, security deposits, maintenance obligations, and termination conditions, while allowing customization for specific property requirements. This template ensures protection of both lessor and lessee interests while maintaining compliance with local regulations and standard market practices in the Philippines.
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1. Parties: Identification and details of the Lessor and Lessee, including complete names, addresses, and tax identification numbers
2. Background: Context of the lease agreement, including brief description of the property and purpose of the lease
3. Definitions: Definitions of key terms used throughout the agreement
4. Property Description: Detailed description of the leased property, including exact address and boundaries
5. Term and Commencement: Duration of lease (1 year) and specific start and end dates
6. Rent and Payment Terms: Monthly rent amount, payment schedule, and method of payment
7. Security Deposit: Amount, terms of holding, and conditions for return of the security deposit
8. Utilities and Other Charges: Responsibility for utility payments and other associated costs
9. Use of Property: Permitted use of the property and any restrictions
10. Maintenance and Repairs: Responsibilities of each party regarding property maintenance and repairs
11. Lessor's Covenants: Obligations and warranties of the property owner
12. Lessee's Covenants: Obligations and responsibilities of the tenant
13. Insurance: Required insurance coverage and responsibilities
14. Default and Remedies: Events of default and available remedies for both parties
15. Termination: Conditions and process for early termination
16. Governing Law: Specification of Philippine law as governing law
17. Execution: Signature blocks and execution requirements
1. Subletting and Assignment: Include when subletting or assignment rights need to be addressed specifically
2. Alterations and Improvements: Include when tenant is allowed to make modifications to the property
3. Option to Renew: Include when offering the tenant an option to extend the lease
4. Force Majeure: Include when specific provisions for unforeseen circumstances are needed
5. Pest Control: Include for residential properties or when specific pest control obligations need to be defined
6. Common Areas: Include for properties in buildings or complexes with shared facilities
7. Parking: Include when parking spaces are part of the lease
8. Pets: Include for residential properties where pet ownership needs to be addressed
9. Property Management: Include when a property manager is involved
10. Guest Policy: Include for residential properties requiring specific guest restrictions
1. Schedule 1 - Property Layout and Floor Plan: Detailed floor plan and measurements of the leased property
2. Schedule 2 - Inventory of Fixtures and Fittings: List of all fixtures, fittings, and furniture included in the lease
3. Schedule 3 - Property Condition Report: Detailed description of property condition at commencement of lease
4. Schedule 4 - House Rules: Building or complex rules and regulations
5. Schedule 5 - Utility Reading Records: Initial utility meter readings at handover
6. Appendix A - Required Maintenance Schedule: Schedule of regular maintenance tasks and responsibilities
7. Appendix B - Emergency Contact Information: List of emergency contacts including property manager, maintenance, and emergency services
8. Appendix C - Photographic Evidence: Photos documenting property condition at commencement
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