Sample Contract of Lease in the Philippines

When it comes to leasing a property in the Philippines, having a clear and concise contract is essential to ensuring that both parties are on the same page. A lease contract outlines the terms and conditions of the agreement, including the duration of the lease, the amount of rent, and the obligations of both the lessee and the lessor.

Here is a sample lease contract in the Philippines:

LEASE CONTRACT

KNOW ALL MEN BY THESE PRESENTS:

This Lease Contract, made and executed this [date] of [month], [year], by and between [lessor name], Filipino, of legal age, residing at [lessor address], hereinafter referred to as the LESSOR, and [lessee name], Filipino, of legal age, residing at [lessee address], hereinafter referred to as the LESSEE.

PREMISES

The LESSOR hereby leases to the LESSEE, and the LESSEE hereby accepts from the LESSOR, the property located at [property address], hereinafter referred to as the PROPERTY.

TERM

The term of this Lease Contract shall be for [number of months/years], commencing on [date] and ending on [date]. This contract may be renewed upon mutual agreement of both parties.

RENT

The LESSEE shall pay the LESSOR the amount of [rent amount] per month, due and payable on or before the [due date] of each month. Rent payments shall be made to [lessor name and address].

DEPOSIT

The LESSEE shall deposit with the LESSOR the amount of [deposit amount], which shall be used by the LESSOR to cover any damage to the PROPERTY caused by the LESSEE during the term of this Lease Contract. The deposit shall be returned to the LESSEE within [number of days] after the termination of this contract.

USE OF PROPERTY

The LESSEE shall use the PROPERTY solely for residential purposes and shall not use the same for any unlawful purpose.

MAINTENANCE AND REPAIRS

The LESSEE shall maintain the PROPERTY in good condition, and shall promptly notify the LESSOR of any damage or needed repairs. The LESSEE shall be responsible for the cost of repairs resulting from negligence or misuse of the PROPERTY.

ACCESS TO PROPERTY

The LESSOR shall have the right to access the PROPERTY at any time for inspection, repairs, or other purposes related to the lease agreement. The LESSOR shall give the LESSEE reasonable notice before entering the PROPERTY.

TERMINATION OF CONTRACT

Either party may terminate this Lease Contract upon [number of days] written notice to the other party before the end of the term. The LESSEE shall surrender the PROPERTY to the LESSOR upon the termination of this contract.

IN WITNESS WHEREOF, the parties have executed this Lease Contract on the date and year first above written.

[lessor signature]

[lessee signature]

Having a lease contract that is clear and well-structured is crucial to ensuring a successful leasing experience in the Philippines. As a professional, I recommend that you seek legal advice before entering into any lease agreements to ensure that your rights are protected.

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