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10 Year Lease Agreement for Philippines

10 Year Lease Agreement Template for Philippines

A comprehensive legal document governed by Philippine law that establishes a long-term lease arrangement between a lessor and lessee for a duration of 10 years. This agreement is structured in accordance with the Civil Code of the Philippines and related property laws, incorporating provisions for rent payment, periodic reviews, maintenance obligations, and specific terms for both parties. The document includes detailed clauses addressing property use, improvements, insurance requirements, and dispute resolution mechanisms, while ensuring compliance with local property registration requirements and tax regulations.

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What is a 10 Year Lease Agreement?

This 10 Year Lease Agreement is essential for establishing long-term property rental arrangements in the Philippines, typically used for significant commercial, industrial, or residential leasing commitments. The document is structured to comply with Philippine property law, particularly the Civil Code of the Philippines and the Rent Control Act, while incorporating necessary provisions for registration under the Property Registration Decree. It's particularly relevant for businesses seeking stable, long-term premises or property owners looking to secure steady, long-term income. The agreement covers crucial aspects including rent reviews, maintenance responsibilities, improvement rights, and specific provisions for the Philippine context such as local government permits and tax compliance. This type of agreement is commonly used in commercial real estate transactions, corporate expansions, or industrial facility leasing, where the extended term provides security for both parties and allows for significant capital investment in the property.

What sections should be included in a 10 Year Lease Agreement?

1. Parties: Identification of the Lessor and Lessee with complete details including addresses

2. Background: Context of the lease arrangement and brief description of the property

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

4. Grant of Lease: Formal grant of lease and specification of the leased premises

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

6. Rent and Other Charges: Base rent, payment terms, security deposit, advance rent, and other charges

7. Rent Review: Mechanism and timing for periodic rent reviews over the 10-year term

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

9. Maintenance and Repairs: Responsibilities for maintenance, repairs, and improvements

10. Utilities and Services: Provisions regarding utilities, services, and associated charges

11. Insurance: Required insurance coverage for both parties

12. Assignment and Subletting: Rules and restrictions regarding transfer of lease rights

13. Lessor's Covenants: Obligations and warranties of the property owner

14. Lessee's Covenants: Obligations and warranties of the tenant

15. Default and Remedies: Events of default and available remedies

16. Termination: Grounds and procedures for early termination

17. Return of Premises: Conditions and procedures for returning the property

18. Notices: Process for formal communications between parties

19. Governing Law: Specification of Philippine law as governing law

20. Dispute Resolution: Procedures for resolving disputes

21. General Provisions: Miscellaneous legal provisions including severability, entire agreement, etc.

What sections are optional to include in a 10 Year Lease Agreement?

1. Fit-out Works: Details of any initial modifications or improvements to be made by either party

2. Option to Renew: Terms and conditions for lease renewal after the initial 10-year term

3. Right of First Refusal: Lessee's right to match any offer for sale of the property

4. Force Majeure: Provisions for extraordinary events affecting lease performance

5. Environmental Matters: Special provisions regarding environmental compliance and responsibilities

6. Building Rules and Regulations: If in a managed building, specific rules and regulations

7. Signage Rights: Rights and restrictions regarding external and internal signage

8. Parking Rights: Specific provisions for parking if applicable

9. Common Areas: Rights and obligations regarding shared facilities

10. Green Lease Provisions: Environmental sustainability requirements and agreements

What schedules should be included in a 10 Year Lease Agreement?

1. Schedule 1 - Property Description: Detailed description of the leased premises including floor plans and measurements

2. Schedule 2 - Rent Schedule: Detailed breakdown of rent payments and escalation over the 10-year term

3. Schedule 3 - Condition Report: Initial condition of the premises with photographs and descriptions

4. Schedule 4 - Building Services: List and specifications of building services and utilities

5. Schedule 5 - Fit-out Specifications: Technical specifications for any approved modifications

6. Schedule 6 - House Rules: Detailed building rules and regulations if applicable

7. Schedule 7 - Maintenance Schedule: Schedule of regular maintenance responsibilities

8. Appendix A - Required Insurance: Detailed insurance requirements and minimum coverage

9. Appendix B - Form of Bank Guarantee: Template for bank guarantee if required as security

10. Appendix C - Handover Protocol: Procedures and checklist for property handover

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

Jurisdiction

Philippines

Publisher

Ƶ

Document Type

Rental Agreement

Cost

Free to use
Relevant legal definitions

















































Clauses





































Relevant Industries

Real Estate

Commercial Property

Retail

Industrial

Manufacturing

Office Space

Healthcare

Education

Hospitality

Logistics

Warehouse and Storage

Agriculture

Technology

Relevant Teams

Legal

Real Estate

Facilities Management

Finance

Operations

Procurement

Risk and Compliance

Corporate Services

Business Development

Property Management

Relevant Roles

Real Estate Manager

Property Manager

Facilities Manager

Legal Counsel

Chief Financial Officer

Operations Director

Business Development Manager

Asset Manager

Commercial Director

Procurement Manager

Risk Manager

Compliance Officer

Corporate Services Manager

Branch Manager

Regional Director

Chief Executive Officer

Real Estate Broker

Property Consultant

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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