When searching for a condominium unit for lease in the Philippines, it is essential to have a written contract that outlines the terms and conditions agreed upon by both the lessor and lessee. This sample contract can serve as a guide for those who are new to leasing a property in the Philippines.

1. Parties Involved

The lease contract should identify the parties involved. This section should include the name and address of the lessor (owner of the unit) and the lessee (tenant).

2. Unit and Location

The contract should also include the address of the condominium unit, along with the specific unit number, building name, and floor. It should also specify the location of the unit`s parking space, if included in the lease.

3. Terms and Duration

The lease contract should state the terms and duration of the lease. This includes the start date and end date of the lease agreement, the rental rate, and the frequency of rental payments (monthly, quarterly, etc.). The contract should also identify the amount of the security deposit and whether it is refundable or not.

4. Utilities and Maintenance Fees

It is essential to specify in the lease contract which utilities (electricity, water, internet, etc.) are included in the rental rate and which are not. Maintenance fees for common areas and amenities should also be clearly stated.

5. Use of the Property

The contract should specify the permitted use of the unit. It should state whether the unit is for residential or commercial use and specify any restrictions on the use of the unit, such as noise restrictions or the prohibition of certain activities.

6. Repairs and Maintenance

The contract should specify who is responsible for repairs and maintenance of the unit during the lease period. It should also state the procedure for reporting and resolving maintenance issues.

7. Termination and Renewal

The contract should include the conditions for terminating the lease before the agreed-upon end date. It should also specify the conditions for renewing the lease once it expires.

Leasing a condominium unit in the Philippines can be a smooth process when both the lessor and lessee agree upon the terms and conditions of the lease. Having a written lease contract helps both parties understand their rights and responsibilities and can prevent misunderstandings and disputes. Use this sample contract as a guide when leasing a condominium unit in the Philippines.