The Renew Tenancy Agreement is essential when parties wish to extend an existing lease arrangement in Pakistan while potentially updating its terms. This document is typically used when the original lease period is approaching expiration and both parties agree to continue their landlord-tenant relationship. It must comply with federal legislation such as the Transfer of Property Act 1882 and relevant provincial rent control laws, while also addressing any new terms or modifications to the original agreement. The renewal document includes critical information such as the extended period, updated rent amounts, and any modified conditions, while ensuring all changes align with current Pakistani property laws and regulations. It's particularly important for maintaining legal clarity and protecting both parties' interests during the extended lease period.
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1. Parties: Identification of the Landlord and Tenant with their complete legal names and addresses
2. Background: Reference to the original tenancy agreement, its date, and current expiry date
3. Definitions: Key terms used in the renewal agreement, including references to defined terms in the original agreement
4. Renewal Term: Specific period of the renewal, including start and end dates
5. Rent: Updated rent amount, payment schedule, and method of payment
6. Confirmation of Original Terms: Statement confirming which terms from the original agreement remain in effect
7. Execution: Signature blocks for all parties and witnesses
8. Governing Law: Confirmation that the agreement is governed by Pakistani law and specification of relevant jurisdiction
1. Modified Terms: Section detailing any changes to the original agreement terms, used when specific conditions need updating
2. Security Deposit Adjustment: Updates to security deposit amounts if required, used when security deposit terms are changing
3. Maintenance and Repairs: Updated responsibilities for maintenance and repairs, used when these terms are being modified
4. Utilities and Services: Changes to utility payment responsibilities, used when utility arrangements are being modified
5. Special Conditions: Any new specific conditions for the renewal period, used when adding new terms not in original agreement
6. Break Clause: Terms for early termination, used when parties want flexibility to end the renewal early
1. Schedule 1 - Original Agreement: Copy of the original tenancy agreement for reference
2. Schedule 2 - Inventory: Updated inventory list of furniture and fixtures if property is furnished
3. Schedule 3 - Property Condition Report: Current condition of the property at renewal
4. Schedule 4 - Payment Schedule: Detailed breakdown of rent payments and due dates
5. Appendix A - Property Photos: Current photographs of the property condition
6. Appendix B - Utility Agreements: Updated utility contract information and responsibilities if relevant
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