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Rent Agreement For Commercial Use Template for Malaysia

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Key Requirements PROMPT example:

Rent Agreement For Commercial Use

"I need a Rent Agreement For Commercial Use for my retail business leasing a 2,000 square foot space in a shopping mall in Kuala Lumpur, with a 3-year term starting March 1, 2025, including provisions for signage rights and extended operating hours during festive seasons."

Document background
The Rent Agreement For Commercial Use is a vital legal instrument in Malaysian commercial property transactions. It is used when a business entity needs to lease commercial space for their operations, whether for retail, office, or other business purposes. The agreement must comply with Malaysian property and contract laws, including the Contracts Act 1950 and National Land Code 1965. This document typically includes detailed terms about property use, rental payments, maintenance obligations, insurance requirements, and termination conditions. It's essential for protecting both landlord and tenant interests in commercial property transactions and should be customized based on the specific nature of the business, property type, and commercial requirements while ensuring compliance with local regulations and market practices.
Suggested Sections

1. Parties: Identification of landlord and tenant, including registration numbers for companies

2. Background: Brief context of the agreement and property ownership

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

4. Demised Premises: Detailed description of the rented property and its boundaries

5. Term and Renewal: Duration of tenancy and renewal options

6. Rent and Payment Terms: Rental amount, payment schedule, and method of payment

7. Security Deposit: Amount, payment terms, and conditions for return of security deposit

8. Utilities and Outgoings: Responsibility for utility payments and other charges

9. Use of Premises: Permitted use of premises and restrictions

10. Maintenance and Repairs: Responsibilities for maintenance, repairs, and upkeep

11. Insurance: Required insurance coverage for both parties

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

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

14. Default and Termination: Events of default and termination procedures

15. Assignment and Subletting: Conditions for assignment or subletting of premises

16. Notices: Process for serving notices between parties

17. Governing Law: Specification of Malaysian law as governing law

18. Execution: Signature blocks and execution details

Optional Sections

1. Fit-Out Works: Details of any permitted renovation or fit-out works, used when tenant will modify premises

2. Service Charge: Details of service charge for maintained buildings, used for properties in commercial complexes

3. Air-Conditioning: Specific provisions for air-conditioning maintenance and charges, used in buildings with central air-conditioning

4. Signage Rights: Rules and permissions for external signage, used when tenant requires external advertising

5. Break Clause: Early termination options, used when parties want flexibility to end lease early

6. Option to Purchase: Terms for tenant's right to purchase property, used when landlord offers future sale option

7. Quiet Enjoyment: Extended provisions for tenant's undisturbed use, used in long-term leases

8. Green Building Requirements: Environmental compliance requirements, used for green-certified buildings

9. COVID-19 Provisions: Special provisions for pandemic-related circumstances, used when specific pandemic protections are needed

Suggested Schedules

1. Schedule 1 - Property Details: Detailed description of property including floor plans and measurements

2. Schedule 2 - Inventory: List of fixtures, fittings, and equipment included in the lease

3. Schedule 3 - Rent Schedule: Detailed breakdown of rent payments and escalation rates

4. Schedule 4 - Building Rules: Rules and regulations for use of the building or complex

5. Schedule 5 - Maintenance Schedule: Detailed maintenance responsibilities and schedules

6. Appendix A - Floor Plans: Detailed floor plans and measurements of the premises

7. Appendix B - Fit-Out Guidelines: Technical specifications and guidelines for any permitted renovations

8. Appendix C - Service Level Agreement: Details of building services provided and service standards

Authors

Alex Denne

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

Relevant legal definitions



































Clauses






























Relevant Industries

Retail

Office Space

Food & Beverage

Healthcare

Education

Financial Services

Technology

Manufacturing

Warehousing & Logistics

Professional Services

Entertainment & Leisure

Hospitality

Relevant Teams

Legal

Finance

Operations

Facilities Management

Administration

Risk & Compliance

Real Estate

Corporate Services

Business Development

Property Management

Relevant Roles

Chief Executive Officer

Chief Financial Officer

Facilities Manager

Legal Counsel

Property Manager

Operations Director

Business Development Manager

Real Estate Manager

Compliance Officer

Finance Director

Administrative Manager

Contract Manager

Risk Manager

Store Manager

Branch Manager

Industries







Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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