Sample Lease Contract Agreement Philippines
3. RENTAL PRICE: The monthly rental price of the rented premises is indicated in PESOS: AMOUNT IN WORDS (P 00,000.00), Philippine currency. All rent payments must be paid to the OWNER. 10. EXPIRATION OF THE RENTAL AGREEMENT: Upon expiry of the term of this Rental Agreement or its termination, as provided for herein, the RENTER will immediately deliver to the LESSOR the rented premises with all appropriate keys and in a condition as good and durable as the current one, the normal wear and tear expected without all residents, mobile furniture, articles and effects of any kind. Failure by the RENTER to comply with the terms of this clause gives the LESSOR the right, at its discretion, to refuse delivery of the premises and to compel the RENTER to pay the rent thereof at the same rate plus twenty-five (25)% thereof as a penalty until the RENTER has complied with the terms of this Contract. The same penalty will be imposed if the RENTER does not leave the premises after the expiry of this rental contract or a termination for any reason whatsoever. The OWNER is the owner of a residential building in _____ The LESSOR hereby rents the aforementioned residential building to the RENTER, and the latter undertakes to rent it under the following conditions: 9. RIGHT OF ENTRY OF THE LESSOR: The LESSOR or his agent, after timely notification of the RENTER, has the right to enter the premises in the presence of the RENTER or his representative at any reasonable time, to examine or repair them, or for the operation and maintenance of the building or to expose the rented premises to potential TENANTS or for any other legal purpose it deems necessary. 4.
That the LANDLORD pays the property taxes levied on the leased premises corresponding to the above property, while the RENTER pays the property taxes levied on the immovable and other improvements to be introduced by it; A residential lease is an agreement for one person (the “Tenant”) to lease the property to another person (the “Owner”) for residential purposes over a period of time. THEREFORE, for and taking into account the above premises, the LESSOR rents to the RENTER and the RENTER hereby accepts from the LESSOR the rented premises, subject to the following conditions: 4. DEPOSIT: The RENTER, upon signing this contract and before moving in, must deposit with the LESSOR an amount equal to the rent for THREE (3) MONTHS or the sum of PESOS: AMOUNT IN WORDS (P 00,000.00), Philippine currency. where the two (2) month deposit as rent for the 11th and 12th month and the remaining (1) month deposit are partially liable for damages and other obligations to utilities such as water, electricity, CATV, telephone, association fees or due to a breach of any provision of this Agreement. 8. FORCE MAJEURE: If all or part of the rented premises is destroyed or damaged by fire, flood, lightning, typhoon, earthquake, storm, riot or any other unforeseen cause of disability in order to make the rented premises substantially unfit for the use and occupation of the LESSEe for the duration, this rental contract may be terminated by the LESSOR or the RENTER by written notification to the RENTER without the RENTER WITHOUT notice to the RENTER without notice Compensation will be terminated by others. FOR AND taking into account the conditions mutually agreed by the parties, the LESSOR therefore leases to the RENTER, his heirs, successors and assignees the goods described above under the following conditions, that is: 2. That the monthly rents on the aforementioned leased premises ________________________________P___________________________ Philippine currency for the first ______ (__ (__ (years/month) of this contract, which thereafter all __ (P___________ years/month) is increased by _ (years/month). The rents are paid by the RENTER monthly to the LESSOR, payable no later than the _______th day of each month; 5. PAYMENT OF DEFAULT: In case of default of the RENTER in the payment of rent, e.B. if the checks are not cashed, the LESSOR may, at its discretion, terminate this contract and exclude the RENTER.
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