Land Lease Agreement Sample Philippines

The republic act no.

Land lease agreement sample philippines.

A late penalty of up to month may be assessed on all late payments. It is expressly agreed and understood that the payment of the rental fee herein stipulated shall be made. This lease can only be changed by an agreement in writing by both the tenant and the landlord. If this lease is made by a corporation its proper corporate officers sign and its corporate seal is affixed.

9161 also known as the rental reform act of 2002 sets forth guidelines regarding the lease of residential units. Terms and conditions. A residential lease agreement identifies basic information about the lease such as the property to be rented the period of the lease the security deposits and the monthly rental payments. The lease contract contains rental agreement which specifies the tenant s right to live and the landlord s right to retain ownership.

The contract protects both parties. Now therefore for and in consideration of the foregoing premises the lessor leases unto the lessee and the lessee hereby accepts from the lessor the leased premises subject to the following. The monthly rental fee for the leased property shall be pesos php 00 exclusive of value added tax to be paid by the lessee on or before thirty 30 days after completion and notarization of this contract of lease and every end of the following month thereafter. Whereas the lessor is the owner of a certain parcel of land situated at philippines more particularly described as follows.

The tenant agrees to pay such sum at the beginning of the lease term and on the anniversary thereof unless otherwise mutually agreed. A residential lease agreement is an agreement for one person the lessee to rent the property of another the lessor for residential purposes over a specific period of time. Technical description of property whereas the lessor desires to lease the afore described property in favor of the lessee and the lessee accepts the lease subject to the terms and conditions herein set forth. The lawphil project of the arellano law foundation contains the civil code of the philippines articles 1646 to 1688 with governing laws on the lease of urban and rural lands.

For instance if a tenant decides to move a letter of cancellation must be provided to the landlord one month in advance to give ample time to find new occupants. Whereas the lessor agrees to lease out the property to the lessee and the lessee is willing to lease the same.