The Residential Rental Agreement serves as a fundamental legal instrument in the Philippine real estate market, establishing a binding contract between property owners and tenants for residential properties. This document is essential when any residential property is being leased, whether it's an apartment, house, condominium unit, or other residential space. It must comply with Philippine legislation, including the Civil Code, Rent Control Act, and local housing regulations. The agreement typically includes comprehensive details about the property, rental terms, payment schedules, maintenance responsibilities, and other crucial terms that govern the landlord-tenant relationship. It's designed to protect both parties' interests while ensuring compliance with local laws and regulations, making it a vital document for property management and real estate operations in the Philippines.
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1. Parties: Identification and details of the Landlord and Tenant, including complete names, addresses, and contact information
2. Background: Brief context of the rental arrangement and property overview
3. Definitions: Definitions of key terms used throughout the agreement
4. Property Details: Comprehensive description of the rental property, including address and specific unit details
5. Term of Lease: Duration of the lease, commencement date, and termination date
6. Rent and Payment Terms: Monthly rent amount, payment schedule, method of payment, and late payment penalties
7. Security Deposit: Amount, terms of holding, and conditions for return of the security deposit
8. Utilities and Services: Responsibility for utilities, including electricity, water, internet, and other services
9. Maintenance and Repairs: Responsibilities of landlord and tenant for property maintenance and repairs
10. Use of Property: Permitted use of the property and restrictions
11. House Rules: Basic rules and regulations for property use and resident conduct
12. Termination: Conditions and procedures for lease termination by either party
13. Default and Remedies: Events of default and available remedies for both parties
14. Governing Law: Specification of Philippine law as governing law and jurisdiction
15. Signatures: Execution block for all parties and witnesses
1. Subletting: Include when subletting is to be permitted, specifying conditions and approval process
2. Pets: Include when pets are allowed, specifying conditions, deposits, and restrictions
3. Parking: Include when parking spaces are part of the lease, specifying allocation and rules
4. Common Areas: Include for properties with shared facilities, detailing access rights and rules
5. Renovations and Alterations: Include when tenant modifications to the property might be permitted
6. Insurance Requirements: Include when specific insurance coverage is required from either party
7. Force Majeure: Include specific provisions for natural disasters or extraordinary events
8. Option to Renew: Include when offering tenant the option to extend the lease term
1. Schedule A - Property Inventory: Detailed list of furniture, appliances, and fixtures included in the rental
2. Schedule B - Property Condition Report: Documented condition of the property at the start of tenancy
3. Schedule C - House Rules and Regulations: Detailed building or complex rules and regulations
4. Schedule D - Utility Reading Records: Initial meter readings for utilities at handover
5. Schedule E - Maintenance Schedule: Regular maintenance schedule and responsibilities if applicable
6. Appendix 1 - Photo Documentation: Photographs of property condition at commencement of lease
7. Appendix 2 - Required Permits: Copies of relevant permits and certificates
8. Appendix 3 - Payment Schedule: Detailed breakdown of all payments including rent, deposits, and other fees
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Property Management
Residential Housing
Legal Services
Property Investment
Property Development
Housing Services
Building Management
Rental Market
Relevant Teams
Legal
Real Estate
Property Management
Operations
Compliance
Asset Management
Facilities Management
Customer Relations
Administrative Services
Contract Management
Relevant Roles
Property Manager
Real Estate Agent
Leasing Manager
Legal Counsel
Housing Officer
Property Administrator
Lease Administrator
Compliance Officer
Real Estate Broker
Building Manager
Asset Manager
Facilities Manager
Property Operations Manager
Tenant Relations Manager
Real Estate Attorney
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