Fixed Term Lease Agreement for Philippines

Fixed Term Lease Agreement Template for Philippines

A comprehensive lease agreement template designed specifically for the Philippine jurisdiction, incorporating requirements from the Civil Code of the Philippines and the Rent Control Act. This document establishes a fixed-term tenancy between parties, clearly defining the duration, terms, and conditions of the lease arrangement. It includes provisions for rent payment, security deposits, maintenance responsibilities, and other obligations of both landlord and tenant, while ensuring compliance with local property laws and regulations. The agreement provides robust protection for both parties' interests while maintaining flexibility for customization based on specific property types and use cases.

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What is a Fixed Term Lease Agreement?

The Fixed Term Lease Agreement is a crucial legal document used in the Philippine real estate market for establishing temporary property rights between a landlord and tenant for a specified period. This document is essential when parties wish to create a lease arrangement with a definite beginning and end date, as opposed to a periodic tenancy. It must comply with the Civil Code of the Philippines, the Rent Control Act, and other relevant local regulations. The agreement is commonly used for both residential and commercial properties, providing clear terms for rent, security deposits, maintenance, utilities, and other key aspects of the landlord-tenant relationship. It's particularly important in the Philippine context where property relationships need to be clearly documented to ensure enforceability and protect both parties' rights under local law.

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

1. Parties: Identification and details of the Landlord and Tenant, including complete names, addresses, and contact information

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

3. Definitions: Key terms used throughout the agreement defined for clarity

4. Property Details: Complete description of the leased property, including address and specific inclusions

5. Term and Commencement: Duration of the lease and start date, with specific end date as required for fixed-term leases

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

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 both parties regarding property maintenance and repairs

11. Landlord's Obligations: Specific duties and responsibilities of the landlord

12. Tenant's Obligations: Specific duties and responsibilities of the tenant

13. Insurance: Required insurance coverage and responsibilities

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

15. Termination: Conditions and process for early termination

16. Governing Law: Specification of Philippine law as governing law and jurisdiction

17. Execution: Signature blocks and execution requirements

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

1. Subletting and Assignment: Include when subletting or assignment might be permitted under specific conditions

2. Improvements and Alterations: Include when tenant is allowed to make modifications to the property

3. Property Management: Include when a property manager is involved in managing the lease

4. Common Areas: Include for properties in multi-unit buildings or complexes

5. Parking: Include when parking spaces are part of the lease

6. Pets: Include when pets are allowed or specifically prohibited

7. Force Majeure: Include specific provisions for unforeseen circumstances, particularly relevant post-COVID

8. Option to Renew: Include when offering the tenant an option to extend the lease term

9. Right of First Refusal: Include when giving tenant priority rights to purchase or lease additional space

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

1. Schedule 1 - Property Inventory: Detailed list of furniture, fixtures, and equipment included in the lease

2. Schedule 2 - Property Condition Report: Detailed assessment of property condition at commencement of lease

3. Schedule 3 - House Rules: Specific rules and regulations for the property or building

4. Schedule 4 - Utility Reading Records: Initial utility meter readings at handover

5. Schedule 5 - Maintenance Schedule: Regular maintenance schedule and responsibilities

6. Appendix A - Floor Plan: Detailed floor plan of the leased property

7. Appendix B - Photographic Evidence: Photos documenting property condition at lease start

8. Appendix C - Building Permits and Certificates: Copies of relevant permits and safety certificates

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

Philippines

Publisher

Genie AI

Document Type

Rental Agreement

Cost

Free to use
Clauses
Relevant Industries

Real Estate

Residential Property

Commercial Property

Retail

Office Space

Industrial

Hospitality

Mixed-Use Development

Agriculture

Education

Healthcare

Relevant Teams

Legal

Real Estate

Facilities Management

Operations

Property Management

Compliance

Contract Administration

Asset Management

Risk Management

Finance

Relevant Roles

Property Manager

Real Estate Agent

Leasing Manager

Facilities Manager

Legal Counsel

Contract Administrator

Real Estate Director

Asset Manager

Property Administrator

Compliance Officer

Real Estate Broker

Building Manager

Operations Manager

Tenant Relations Manager

Real Estate Partner

Property Legal Advisor

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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