Lease And Tenancy Agreement

Lease And Tenancy Agreement Template for Nigeria

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Key Requirements PROMPT example:

"I need a Lease and Tenancy Agreement for a commercial property in Lagos, Nigeria, starting from March 1, 2025, with specific provisions for restaurant usage and the option for a 5-year renewal after the initial 3-year term."

Document background

The Lease And Tenancy Agreement serves as a fundamental legal instrument in Nigerian property transactions, essential for both residential and commercial property rentals. This document is required whenever a property owner (landlord) intends to grant possession of their property to another party (tenant) for a specified period in exchange for rent. The agreement must comply with Nigerian federal legislation, including the Recovery of Premises Act, as well as state-specific tenancy laws. It typically includes detailed provisions on rent payment, security deposits, maintenance obligations, utility responsibilities, and termination conditions. The document provides legal protection for both parties and serves as a reference point for resolving any disputes that may arise during the tenancy period.

Suggested Sections

1. Parties: Identification and details of the Landlord and Tenant, including full legal names, addresses, and contact information

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

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

4. Demise: Formal grant of the lease and description of the property being leased

5. Term: Duration of the lease, including start and end dates

6. Rent: Rent amount, payment schedule, and method of payment

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

8. Tenant's Covenants: Tenant's obligations including maintenance, permitted use, and conduct

9. Landlord's Covenants: Landlord's obligations including repairs, insurance, and services

10. Utilities and Services: Responsibility for utilities, service charges, and maintenance fees

11. Repairs and Maintenance: Detailed obligations for property maintenance and repairs

12. Termination: Conditions and procedures for ending the lease

13. Notices: Process for serving formal notices between parties

14. Governing Law: Specification of Nigerian law and relevant jurisdiction

15. Execution: Signature blocks and attestation requirements

Optional Sections

1. Subletting and Assignment: Include when subletting or assignment rights are to be granted or specifically prohibited

2. Break Clause: Include when early termination options are to be provided

3. Rent Review: Include for longer-term leases where periodic rent adjustments are contemplated

4. Guarantee: Include when a guarantor is required for the tenant's obligations

5. Property Management Rules: Include for properties within managed developments or estates

6. Special Conditions: Include when there are property-specific rules or requirements

7. Force Majeure: Include when specific provisions for unforeseen circumstances are required

8. Option to Renew: Include when tenant is being granted a right to extend the lease term

Suggested Schedules

1. Schedule 1 - Property Description: Detailed description of the property including boundaries and included fixtures/fittings

2. Schedule 2 - Inventory: List of furniture, appliances, and items included in the lease

3. Schedule 3 - Service Charges: Breakdown of service charges and maintenance fees if applicable

4. Schedule 4 - House Rules: Specific rules and regulations for the property or development

5. Appendix A - Property Photos: Photographic evidence of property condition at lease commencement

6. Appendix B - Floor Plan: Detailed floor plan of the leased property

7. Appendix C - Utilities Reading: Initial meter readings for utilities at commencement of lease

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

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Real Estate

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Hospitality

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Education

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Relevant Teams

Legal

Real Estate

Property Management

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Risk Management

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Leasing

Relevant Roles

Property Manager

Real Estate Agent

Legal Counsel

Facilities Manager

Asset Manager

Property Administrator

Leasing Manager

Real Estate Director

Compliance Officer

Operations Manager

Building Superintendent

Estate Manager

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