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Commercial Real Estate Lease Agreement Template for Pakistan

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Key Requirements PROMPT example:

Commercial Real Estate Lease Agreement

"I need a Commercial Real Estate Lease Agreement for a 3,500 square foot retail space in Lahore's Liberty Market, with a 5-year term starting March 1, 2025, including specific provisions for signage rights and 24/7 access for my restaurant business."

Document background
The Commercial Real Estate Lease Agreement is a fundamental document used in Pakistan for establishing legally binding tenancy relationships in commercial properties. This agreement is essential when businesses seek to lease commercial spaces such as offices, retail outlets, warehouses, or industrial facilities. It must comply with Pakistani legal requirements, including the Transfer of Property Act 1882, provincial rent laws, and local municipal regulations. The document typically includes detailed terms about property usage, rent payments, maintenance obligations, insurance requirements, and dispute resolution procedures. It serves to protect both landlord and tenant interests while ensuring clear documentation of all commercial terms and conditions. This agreement is particularly crucial in Pakistan's growing commercial real estate sector, where formal documentation is increasingly important for business operations and legal compliance.
Suggested Sections

1. Parties: Identification of landlord and tenant with complete legal names, addresses, and registration details if companies

2. Background: Context of the lease agreement including brief property description and intent of parties

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

4. Demised Premises: Detailed description of the leased property including exact location, measurements, and boundaries

5. Term and Renewal: Duration of lease, commencement date, expiry date, and renewal terms

6. Rent and Payment Terms: Rent amount, payment schedule, security deposit, and payment methods

7. Utilities and Operating Expenses: Responsibility for utilities, maintenance charges, and other operating costs

8. Use of Premises: Permitted use of property and any restrictions on business activities

9. Maintenance and Repairs: Responsibilities of both parties regarding property maintenance and repairs

10. Alterations and Improvements: Rights and restrictions regarding modifications to the premises

11. Insurance: Required insurance coverage for both parties

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

13. Landlord's Covenants: Obligations and warranties of the landlord

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

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

16. Termination: Conditions and procedures for early termination

17. Governing Law: Applicable law and jurisdiction

18. Notices: Process for formal communications between parties

19. Execution: Signature blocks and witness requirements

Optional Sections

1. Force Majeure: Provisions for unforeseen circumstances preventing performance - particularly relevant in areas prone to natural disasters or political instability

2. Parking: Specific provisions for parking rights and restrictions - needed when property includes parking facilities

3. Signage Rights: Rules regarding external business signs and advertising - important for retail properties

4. Common Areas: Rules for shared spaces - necessary for properties in commercial complexes or multi-tenant buildings

5. Environmental Compliance: Environmental obligations and warranties - important for industrial or manufacturing use

6. Security Arrangements: Specific security provisions - relevant for high-value commercial areas or sensitive businesses

7. Fit-out Period: Terms for initial preparation period - relevant for properties requiring substantial tenant modifications

8. Option to Purchase: Terms for tenant's right to purchase property - included when agreed as part of commercial terms

Suggested Schedules

1. Schedule 1 - Property Plan: Detailed floor plan and measurements of the premises

2. Schedule 2 - Rent Schedule: Detailed breakdown of rent payments, escalations, and review dates

3. Schedule 3 - Inventory: List of fixtures, fittings, and equipment included in the lease

4. Schedule 4 - Service Charges: Breakdown of service charges and calculation method

5. Schedule 5 - Building Rules: Specific rules and regulations for the building or complex

6. Schedule 6 - Maintenance Schedule: Detailed maintenance responsibilities and scheduling

7. Appendix A - Registration Documents: Copies of relevant property registration and ownership documents

8. Appendix B - Permits and Licenses: Copies of necessary commercial permits and licenses

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

Hospitality

Manufacturing

Warehousing and Logistics

Healthcare

Banking and Financial Services

Information Technology

Education

Food and Beverage

Professional Services

Entertainment and Recreation

Relevant Teams

Legal

Finance

Operations

Facilities Management

Real Estate

Risk and Compliance

Administration

Procurement

Business Development

Property Management

Relevant Roles

Chief Executive Officer

Chief Financial Officer

Real Estate Manager

Facilities Manager

Property Manager

Legal Counsel

Operations Director

Business Development Manager

Finance Manager

Commercial Director

Procurement Manager

Risk Manager

Compliance Officer

Store Manager

Branch Manager

Administrative 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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