5 Year Lease Agreement

5 Year Lease Agreement Template for United Arab Emirates

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Key Requirements PROMPT example:

"I need a 5 Year Lease Agreement for a retail space in Dubai Mall, starting March 1, 2025, with provisions for extensive tenant fit-out works and specific requirements for operating hours aligned with mall timings."

Document background

This 5 Year Lease Agreement template is designed for use in the United Arab Emirates, incorporating all necessary provisions required under UAE federal laws and emirate-specific regulations. It is particularly suitable for commercial property relationships where parties seek a medium to long-term commitment, providing stability while ensuring compliance with local property laws. The agreement includes comprehensive provisions for rent payment, maintenance obligations, service charges, and property use restrictions, along with specific requirements for registration with relevant authorities such as EJARI in Dubai or Tawtheeq in Abu Dhabi. This template is adaptable for various commercial purposes while maintaining compliance with UAE property laws and commercial practices, making it suitable for office spaces, retail outlets, industrial facilities, or other commercial properties.

Suggested Sections

1. Parties: Identification of landlord and tenant with full legal names, registration details, and addresses

2. Background: Context of the lease agreement including property ownership confirmation and intention to lease

3. Definitions: Detailed definitions of key terms used throughout the agreement

4. Demised Premises: Detailed description of the leased property including location, size, and boundaries

5. Term and Commencement: Duration of lease, commencement date, and conditions for effectiveness

6. Rent and Payment Terms: Rent amount, payment schedule, security deposit, and payment methods

7. Service Charges: Additional charges for building services, utilities, and maintenance

8. Use of Premises: Permitted use of the property and any restrictions

9. Maintenance and Repairs: Responsibilities of both parties regarding property maintenance

10. Insurance: Required insurance coverage for both parties

11. Assignment and Subletting: Conditions under which the tenant may assign or sublet the premises

12. Landlord's Covenants: Obligations and warranties of the landlord

13. Tenant's Covenants: Obligations and warranties of the tenant

14. Termination: Grounds for termination and process

15. Governing Law and Jurisdiction: Confirmation of UAE law application and jurisdiction

16. Notices: Process for formal communications between parties

Optional Sections

1. Fit-out Works: Details of any tenant improvements or modifications, used when premises require initial fitting out

2. Break Clause: Early termination options, included when parties want flexibility to end the lease early

3. Rent Review: Mechanism for periodic rent adjustments, used in longer leases with market adjustment provisions

4. Green Lease Provisions: Environmental and sustainability requirements, used for green buildings or when parties have sustainability goals

5. Force Majeure: Provisions for unforeseen circumstances, particularly relevant post-COVID

6. Option to Renew: Terms for lease renewal, included when parties want to pre-agree extension terms

7. Exclusivity Provisions: Restrictions on landlord leasing to competitors, used in retail or commercial contexts

8. Operating Hours: Specific requirements for business hours, typically used in retail or shopping center leases

Suggested Schedules

1. Floor Plans: Detailed plans showing the leased premises and common areas

2. Specification of Premises: Detailed technical specification of the property including fixtures and fittings

3. Service Charge Schedule: Breakdown of service charges and calculation methodology

4. Building Rules and Regulations: Detailed operational rules for the building or development

5. Fit-out Guidelines: Technical specifications and requirements for any tenant improvements

6. Handover Condition Report: Detailed description of property condition at lease commencement

7. Permitted Use Details: Specific details of allowed business activities and restrictions

8. Insurance Requirements: Detailed specification of required insurance coverage

Authors

Alex Denne

Head of Growth (Open Source Law) @ ��Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Commercial Real Estate

Retail

Office Space

Industrial

Hospitality

Healthcare

Education

Manufacturing

Logistics

Professional Services

Technology

Financial Services

Relevant Teams

Legal

Real Estate

Facilities Management

Operations

Finance

Compliance

Property Management

Asset Management

Business Development

Administration

Relevant Roles

Real Estate Director

Property Manager

Facilities Manager

Legal Counsel

Commercial Director

Operations Manager

Chief Financial Officer

Asset Manager

Leasing Manager

Real Estate Agent

Company Secretary

Compliance Officer

Business Development Manager

Regional Manager

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