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Rent Increase Agreement
"I need a Rent Increase Agreement for my commercial property in Kuala Lumpur, implementing a 15% rent increase effective March 1, 2025, with the increase to be phased in over three months."
1. Parties: Identification of the landlord and tenant, including full legal names and addresses
2. Background: Reference to the original tenancy agreement, its date, and current rent amount
3. Definitions: Definition of key terms used in the agreement including 'Effective Date', 'Original Agreement', 'New Rent'
4. Rent Increase Details: Specific details of the new rent amount, effective date, and payment terms
5. Implementation: Process for implementing the rent increase, including notice periods and payment methods
6. Confirmation of Other Terms: Confirmation that all other terms of the original tenancy agreement remain unchanged
7. Governing Law: Specification that the agreement is governed by Malaysian law
8. Execution: Signature blocks for all parties and witness requirements
1. Utilities and Service Charges: Include when the rent increase affects or includes changes to utility payments or service charges
2. Security Deposit Adjustment: Include when the security deposit needs to be increased proportionally with the rent
3. Maintenance and Repairs: Include when the rent increase involves changes to maintenance responsibilities
4. Break Clause: Include when providing the tenant with an option to terminate due to the increase
5. Dispute Resolution: Include when specific dispute resolution procedures are needed beyond standard legal remedies
1. Schedule 1 - Original Tenancy Agreement: Copy or key details of the original tenancy agreement
2. Schedule 2 - Rent Calculation: Detailed breakdown of the rent increase calculation and any pro-rata adjustments
3. Schedule 3 - Payment Schedule: Detailed payment schedule showing old and new rent amounts, and transition timing
4. Appendix A - Notice of Rent Increase: Formal notice of rent increase that was previously served (if applicable)
Authors
Real Estate
Retail
Commercial Office Space
Industrial
Hospitality
Healthcare
Education
Food & Beverage
Logistics
Manufacturing
Legal
Property Management
Operations
Facilities Management
Asset Management
Compliance
Real Estate
Contract Administration
Tenant Relations
Finance
Property Manager
Real Estate Manager
Facilities Manager
Legal Counsel
Compliance Officer
Operations Manager
Asset Manager
Leasing Manager
Contract Administrator
Real Estate Director
Property Administrator
Building Manager
Tenant Relations Manager
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