A lease contract is a legal agreement between a landlord and tenant that outlines the terms and conditions of renting a property. In the Philippines, a simple lease contract can be used for residential or commercial properties. This article will provide a sample lease contract that is easy to understand and follow.

Sample Lease Contract

This agreement made and entered into this [insert date] by and between [insert landlord’s name], hereinafter referred to as the “Landlord”, and [insert tenant’s name], hereinafter referred to as the “Tenant”, for the lease of [insert property address], hereinafter referred to as the “Property”.

1. Term

The Tenant shall lease the Property from [insert start date] to [insert end date].

2. Rent

The Tenant shall pay the monthly rent of [insert amount] on or before the [insert due date] of each month. The payment shall be made to the Landlord at [insert payment location]. If the Tenant fails to pay the rent on time, the Landlord may charge a late fee of [insert late fee amount].

3. Security Deposit

The Tenant shall pay a security deposit of [insert amount] to the Landlord on or before the start of the lease term. The security deposit shall be refunded to the Tenant at the end of the lease term, less any deductions for unpaid rent, damages, or other charges.

4. Use of Property

The Tenant shall use the Property only for residential purposes. The Tenant shall not use the Property for any illegal or immoral activities.

5. Maintenance and Repairs

The Tenant shall maintain the Property in a clean and orderly manner. The Tenant shall promptly notify the Landlord of any repairs that need to be made. The Landlord shall be responsible for making repairs that are due to normal wear and tear. The Tenant shall be responsible for making repairs that are due to the Tenant’s negligence or misuse of the Property.

6. Termination

Either party may terminate this agreement upon [insert notice period] days’ written notice to the other party. The Tenant shall leave the Property in the same condition as when the Tenant first occupied it, except for normal wear and tear.

7. Governing Law

This agreement shall be governed by and construed in accordance with the laws of the Philippines.

In witness whereof, the parties have executed this agreement on the date first above written.

[Insert signature of Landlord]

[Insert signature of Tenant]

Conclusion

A simple lease contract can provide clarity and protection for both parties involved in renting a property. This sample lease contract can be easily adapted to suit the needs of any residential or commercial property in the Philippines. It is important to review and understand all the terms before signing any lease contract.