Document background
The Commercial Lease Rent Increase Notice is a crucial document in Philippine commercial property management, used when property owners or managers need to implement a rent adjustment for their commercial tenants. This document must comply with Philippine civil law requirements and should be issued within the timeframe specified in the original lease agreement, typically requiring advance notice of 30-60 days. The notice should be used when rent increases are implemented due to market adjustments, property improvements, or as scheduled in the lease agreement. It includes essential information such as the current rent, new rent amount, effective date, and legal basis for the increase. The document serves both as a formal communication tool and a legal record of the rent adjustment process, protecting both landlord and tenant interests under Philippine jurisdiction.
