Long Term Rental Agreement for Philippines

Long Term Rental Agreement Template for Philippines

A comprehensive legal document governed by Philippine law that establishes the terms and conditions for the long-term rental of real property. This agreement complies with the Philippine Civil Code, Rent Control Act, and other relevant local legislation, detailing the rights and obligations of both lessor and lessee. It covers essential elements including rent payment terms, duration, maintenance responsibilities, security deposits, and specific provisions required under Philippine jurisdiction, while providing mechanisms for dispute resolution and contract termination.

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What is a Long Term Rental Agreement?

This Long Term Rental Agreement is designed for use in the Philippines when establishing a formal, extended rental arrangement between property owners (lessors) and tenants (lessees). It incorporates requirements from key Philippine legislation including the Civil Code (Republic Act No. 386), Rent Control Act (Republic Act No. 9653), and relevant local government regulations. The agreement is suitable for both residential and commercial properties, providing comprehensive coverage of rental terms, payment conditions, maintenance obligations, and other essential provisions required under Philippine law. It's particularly important for rentals extending beyond one year, requiring specific formalities under Philippine property law, and includes provisions for rent adjustment, property maintenance, utility responsibilities, and termination procedures that align with local legal requirements.

What sections should be included in a Long Term Rental Agreement?

1. Parties: Identification and details of the Lessor and Lessee, including complete legal names, addresses, and contact information

2. Background: Context of the rental agreement, 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 rental property, including address and specific inclusions/exclusions

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

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

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

8. Utilities and Services: Responsibility for utilities, maintenance services, and related charges

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. Insurance and Liability: Insurance requirements and allocation of risks between parties

12. Default and Remedies: Events of default and available remedies for both parties

13. Termination: Grounds for termination and required procedures

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

15. Notices: Method and addresses for official communications between parties

16. Execution: Signature blocks and execution requirements

What sections are optional to include in a Long Term Rental Agreement?

1. Subletting and Assignment: Include when subletting or assignment rights are to be granted or specifically prohibited

2. Fit-out and Alterations: Include for commercial properties or when significant modifications are anticipated

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

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

5. Property Management: Include when a property manager is involved

6. Special Uses: Include for properties with specific permitted commercial or mixed-use purposes

7. Environmental Compliance: Include for industrial or commercial properties with environmental considerations

8. Pest Control: Include for residential properties or when specific pest issues need addressing

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

10. Security Measures: Include for properties requiring specific security arrangements

What schedules should be included in a Long Term Rental Agreement?

1. Schedule 1 - Property Details: Detailed description of the property including floor plans, boundaries, and included fixtures

2. Schedule 2 - Inventory List: Detailed list of furniture, appliances, and other items included in the lease

3. Schedule 3 - Condition Report: Detailed report of the property's condition at the start of the lease

4. Schedule 4 - House Rules: Building or complex rules and regulations

5. Schedule 5 - Maintenance Schedule: Schedule of regular maintenance tasks and responsibilities

6. Schedule 6 - Utility Agreements: Details of utility arrangements and payment responsibilities

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

8. Appendix B - Insurance Requirements: Detailed insurance requirements and specifications

9. Appendix C - Payment Schedule: Detailed breakdown of rent, deposits, and other payments

10. Appendix D - Photo Documentation: Photographs of the property condition 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

Philippines

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

Office Space

Hospitality

Healthcare

Education

Manufacturing

Relevant Teams

Legal

Real Estate

Facilities Management

Operations

Administration

Compliance

Property Management

Asset Management

Corporate Services

Risk Management

Relevant Roles

Real Estate Manager

Property Manager

Facilities Manager

Legal Counsel

Corporate Real Estate Director

Operations Manager

Administrative Manager

Compliance Officer

Real Estate Broker

Asset Manager

Leasing Manager

Property Administrator

Real Estate Attorney

Business Development Manager

Regional Property Director

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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