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The License Agreement For Rental Property serves as a crucial legal instrument in the Malaysian property market, particularly suited for situations requiring flexible occupancy arrangements. This document type is commonly used for serviced offices, temporary accommodations, student housing, or corporate housing solutions where traditional leases may be too rigid or inappropriate. The agreement must comply with Malaysian property and contract laws, including the National Land Code 1965 and Contracts Act 1950, while providing clear terms for property usage, payment obligations, and termination rights. It's designed to protect both licensor and licensee interests while maintaining the distinct legal character of a license rather than a lease, offering greater flexibility in termination and property management.

1. Parties: Identifies and provides full details of the licensor and licensee, including their legal names, identification numbers, and addresses

2. Background: Sets out the context of the agreement, including brief description of the property and the intention to grant a license for its use

3. Definitions: Defines key terms used throughout the agreement to ensure clarity and prevent misinterpretation

4. Grant of License: Specifies the exact nature of the license being granted, emphasizing that this is a license and not a lease

5. License Period: States the duration of the license, including start and end dates, and any renewal terms

6. License Fee: Details the fee amount, payment schedule, method of payment, and consequences of late payment

7. Security Deposit: Specifies the amount of security deposit, terms of holding, and conditions for refund

8. Permitted Use: Clearly defines how the licensee may use the property and any restrictions on use

9. Licensee's Obligations: Lists all responsibilities and obligations of the licensee including maintenance, repairs, and conduct

10. Licensor's Obligations: Details the responsibilities of the licensor including maintenance of structure, insurance, and services

11. Utilities and Outgoings: Specifies responsibility for payment of utilities, assessments, and other charges

12. Termination: Sets out circumstances under which either party may terminate the agreement and the process for termination

13. Notices: Specifies how formal communications between parties should be made and delivered

14. Governing Law: Confirms that Malaysian law governs the agreement and specifies jurisdiction for disputes