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Lease Contract

This document is a contract of lease between a lessor and lessee. It specifies that the lessor owns a residential property that will be leased to the lessee for a period of time. The contract details the terms of the lease including the rental payment amount, security deposit, responsibilities for fees/utilities, and conditions for renewal or returning the property at the end of the lease period. The lessor and lessee sign the contract to agree to these terms.

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Anne Vee
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69 views

Lease Contract

This document is a contract of lease between a lessor and lessee. It specifies that the lessor owns a residential property that will be leased to the lessee for a period of time. The contract details the terms of the lease including the rental payment amount, security deposit, responsibilities for fees/utilities, and conditions for renewal or returning the property at the end of the lease period. The lessor and lessee sign the contract to agree to these terms.

Uploaded by

Anne Vee
Copyright
© Public Domain
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOC, PDF, TXT or read online on Scribd
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CONTRACT OF LEASE

KNOW ALL MEN BY THESE PRESENTS:

This Contract of Lease is made and executed this _______ day of __________ at
_________________ by and between:

______________________________________, Filipino, of legal age, and a


resident of _________________________________, hereinafter referred to as
“LESSOR”,
-AND-

_____________________________________, Filipino, of legal age, and a


resident of ________________________________________________,
hereinafter referred to as “LESSEE”.

LESSEE and LESSOR shall collectively be known herein as the “PARTIES”.

WITNESSETH:

WHEREAS, the LESSOR is the absolute and registered owner of a residential property
situated at __________________________________________________, hereinafter referred to
as the “LEASED PREMISES”.

WHEREAS, the LESSOR desires to lease the aforementioned property in favor of the
LESSEE and the LESSEE accepts the lease subject to the following terms and conditions
stipulated hereunder:

1. Upon signing of this Contract, the LESSOR shall convey in good tenantable
condition the LEASED PREMISES to the LESSEE who shall enjoy the same
privileges and amenities in the subject property as is enjoyed by the LESSOR;

2. The term of this Contract shall be for a period of ___________________________ to


commence from ____________________ to __________________________ and
shall be renewable for like period or extendible for another period at the option of the
LESSEE, and thereafter renewable upon mutual agreement of the parties. The
LESSEE may exercise the option to renew or extend this Contract by notifying the
LESSOR before its date of termination;

3. The rental on the LEASED PREMISES shall be


______________________________________________________________ pesos
(₱_______________) per month;

4. Upon execution of this Contract and turnover of the property to the LESSEE, the
LESSEE shall pay the LESSOR two (2) months rental advance in the amount of
_______________________________pesos (₱______________________) and one
(1) month security deposit also in the amount of
_______________________________ pesos (₱___________________________)
which shall be answerable for all repairs on the LEASED PREMISES for damages
incurred during the lease that are not due to ordinary wear and tear, force majeure,
1
calamities or other analogous circumstances without direct fault and outside the
control of the LESSEE;

5. The parties agree that the abovementioned sums of money shall be paid in post-dated
checks according to the schedule below:

DATE OF CHECK AMOUNT COVERAGE OF PAYMENT

6. The LESSOR shall pay the monthly condominium dues/homeowner fees, including
real property tax and other fees on the property EXCEPT utility bills which shall be
shouldered by the LESSEE for the duration of the lease; and

7. At the end of the lease period, the LESSEE shall turn over the LEASED PREMISES
including its furnishings to the LESSOR in substantially the same condition as
received upon moving in. The LESSOR shall, within _____________________days
from termination of the lease, return to the LESSEE in cash the full amount of the
security deposit or the remainder thereof after applying the same to the repairs
covered in paragraph 4 hereof subject to proper accounting and documentation. The
parties may mutually agree in writing for the extension or renewal of this lease
contract.

IN WITNESS WHEREOF, the parties have hereunto affixed their signatures this
_____________day of ________________ at _________________, Philippines.

_______________________________ ______________________________
LESSOR LESSEE

SIGNED IN THE PRESENCE OF:

________________________________ ____________________________
Witness Witness

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