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This Condo Lease Agreement template is specifically designed for use in Saudi Arabia's residential real estate market, where all rental agreements must comply with both civil law and Shariah principles. The document is essential for legally documenting the lease of condominium units and must be registered on the mandatory Ejar platform as per Saudi regulations. It includes comprehensive provisions covering rent, maintenance, utilities, common areas, and building rules, while incorporating recent Saudi rental reforms under Vision 2030. The agreement protects both landlord and tenant interests while ensuring compliance with Saudi Arabia's Real Estate General Authority (REGA) requirements and local municipal regulations. This template is particularly valuable for property owners, management companies, and real estate professionals handling residential condominium leases in Saudi Arabia.

1. Parties: Identification of landlord and tenant with full legal names, contact details, and national ID/Iqama numbers as required for Ejar registration

2. Background: Brief context of the lease arrangement and property ownership

3. Definitions: Key terms used throughout the agreement including Property, Common Areas, Service Charges, etc.

4. Property Details: Specific description of the condo unit, including unit number, floor, building name, and location

5. Term and Renewal: Lease duration, commencement date, expiry date, and renewal terms

6. Rent and Payment Terms: Rental amount, payment schedule, payment method, and late payment consequences

7. Security Deposit: Amount, payment terms, conditions for return, and permissible deductions

8. Utilities and Services: Responsibility for utility connections, payments, and included services

9. Use of Property: Permitted use, occupancy limits, and restrictions

10. Maintenance and Repairs: Responsibilities of landlord and tenant for maintenance and repairs

11. Common Areas: Rights and obligations regarding common area usage and facilities

12. Insurance: Required insurance coverage for both parties

13. Default and Remedies: Events of default and available remedies for both parties

14. Termination: Grounds for termination and notice requirements

15. Governing Law: Reference to Saudi law and Shariah principles

16. Dispute Resolution: Process for resolving disputes including reference to competent authorities