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Basic Commercial Lease Agreement
"I need a Basic Commercial Lease Agreement for a retail space in a shopping mall in Kuala Lumpur, with a 3-year term starting March 1, 2025, including specific provisions for operating hours and common area maintenance charges."
1. Parties: Identification of the landlord and tenant with full legal names and registration/identification numbers
2. Background: Brief context of the lease arrangement and property details
3. Definitions: Definitions of key terms used throughout the lease agreement
4. Demise: The formal grant of lease and specification of the premises being leased
5. Term and Renewal: Duration of the lease and any renewal options
6. Rent and Payment Terms: Rental amount, payment schedule, and method of payment
7. Security Deposit: Details of security deposit amount, payment, and conditions for return
8. Utilities and Outgoings: Responsibility for payment of utilities, assessments, and other charges
9. Use of Premises: Permitted use of the premises and any restrictions
10. Maintenance and Repairs: Responsibilities of landlord and tenant for maintenance and repairs
11. Insurance: Required insurance coverage and responsibilities
12. Default and Remedies: Events of default and consequences, including termination rights
13. Assignment and Subletting: Restrictions on assignment and subletting of the premises
14. Governing Law: Specification of Malaysian law as governing law
15. Notices: Process for giving notices under the lease
1. Guarantor Provisions: Include when there is a guarantor for the tenant's obligations
2. Fit-Out Works: Include when tenant will be conducting initial fit-out works
3. Option to Purchase: Include if tenant is given an option to purchase the property
4. Break Clause: Include if early termination options are to be provided
5. Service Charge: Include for properties with common areas or shared facilities
6. Green Lease Provisions: Include for environmentally conscious arrangements
7. Trading Requirements: Include when specific trading hours or conditions are required
8. Exclusivity Clause: Include when tenant is granted exclusive rights for certain business activities
1. Schedule 1 - Property Description: Detailed description of the premises including floor plans and boundaries
2. Schedule 2 - Rent Review Provisions: Detailed mechanism for rent reviews if applicable
3. Schedule 3 - Service Charge Items: List of services covered under service charge if applicable
4. Schedule 4 - Fit-Out Guidelines: Technical specifications and requirements for any fit-out works
5. Schedule 5 - Building Rules: Rules and regulations for use of the building or complex
6. Schedule 6 - Condition Report: Initial condition of the premises with photographs
7. Appendix A - Plans and Drawings: Floor plans, location plans, and other relevant drawings
8. Appendix B - Handover Form: Template for property handover documentation
Authors
Retail
Office Space
Industrial
Hospitality
Healthcare
Education
Technology
Professional Services
Manufacturing
Logistics
Food and Beverage
Entertainment
Banking and Finance
Legal
Real Estate
Operations
Finance
Facilities Management
Risk and Compliance
Property Management
Asset Management
Corporate Services
Administration
Property Manager
Real Estate Manager
Legal Counsel
Corporate Lawyer
Facilities Manager
Operations Director
Chief Financial Officer
Business Owner
Commercial Director
Leasing Manager
Asset Manager
Property Administrator
Compliance Officer
Risk Manager
Finance Manager
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