The Promise To Pay Rent Agreement is a crucial document in Philippine property law, typically employed when tenants need to formalize their commitment to pay rent, whether due to past arrears or future obligations. This agreement is particularly relevant in situations where standard lease payments have been disrupted or where a structured payment plan needs to be established. The document must comply with Philippine Civil Code requirements and rental regulations, including the Rent Control Act where applicable. It serves multiple purposes: acknowledging the debt, establishing a clear payment schedule, and providing legal recourse for landlords while offering tenants a structured way to meet their obligations. The agreement is commonly used in both residential and commercial contexts, requiring careful attention to local legal requirements and proper documentation of all payment terms and conditions.
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1. Parties: Identifies and provides complete details of the Landlord/Lessor and Tenant/Lessee, including their legal names, addresses, and contact information
2. Background: Brief context explaining the existing lease arrangement and circumstances leading to this promise to pay rent
3. Definitions: Defines key terms used throughout the agreement for clarity and legal certainty
4. Acknowledgment of Rent Due: Clear statement of the total amount of rent owed, including any arrears, with specific periods covered
5. Payment Terms: Detailed payment schedule, including amounts, due dates, and acceptable payment methods
6. Mode of Payment: Specifies the approved payment methods and payment processing details
7. Default and Remedies: Consequences of failing to meet payment obligations and landlord's available remedies
8. Representations and Warranties: Tenant's confirmation of ability to pay and acknowledgment of the debt
9. Governing Law: Specifies that Philippine law governs the agreement
10. Execution: Signature blocks for all parties and witnesses
1. Security Deposit: Include when there are specific arrangements regarding an existing or new security deposit
2. Guarantor Provisions: Required when a third party is guaranteeing the promise to pay
3. Interest and Penalties: Include when specific interest rates or late payment penalties are being applied
4. Waiver of Rights: Include when the tenant is waiving specific rights as part of the agreement
5. Notice Requirements: Include when specific notice procedures for default or communication are required
6. Alternative Dispute Resolution: Include when parties agree to specific dispute resolution procedures before court action
1. Schedule A - Payment Plan: Detailed breakdown of payment amounts, dates, and running balances
2. Schedule B - Property Details: Description and details of the rental property covered by the agreement
3. Schedule C - Rent Calculation: Breakdown of how the total rent amount was calculated, including any arrears
4. Appendix 1 - Evidence of Debt: Copies of relevant documents showing the rent obligation (lease agreement, unpaid rent notices, etc.)
Relevant legal definitions
Clauses
Acknowledgment of Debt
Payment Terms
Default and Remedies
Interest and Penalties
Security
Representations and Warranties
Force Majeure
Notice Requirements
Governing Law
Dispute Resolution
Amendment
Severability
Entire Agreement
Assignment
Waiver
Good Faith
Execution
Notarization
Counterparts
Survival
Payment Terms
Default and Remedies
Interest and Penalties
Security
Representations and Warranties
Force Majeure
Notice Requirements
Governing Law
Dispute Resolution
Amendment
Severability
Entire Agreement
Assignment
Waiver
Good Faith
Execution
Notarization
Counterparts
Survival
Relevant Industries
Real Estate
Property Management
Residential Housing
Commercial Property
Retail
Hospitality
Office Space
Industrial
Educational Institutions
Healthcare Facilities
Relevant Teams
Legal
Finance
Property Management
Asset Management
Accounts Receivable
Collections
Compliance
Real Estate Operations
Tenant Relations
Administrative Services
Relevant Roles
Property Manager
Real Estate Manager
Leasing Manager
Legal Counsel
Compliance Officer
Finance Manager
Accounts Receivable Specialist
Property Administrator
Asset Manager
Tenant Relations Manager
Collections Manager
Real Estate Operations Director
Facilities Manager
Housing Administrator
Rental Coordinator
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