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Rental Contract With Option To Buy

Rental Contract With Option To Buy Template for Malaysia

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Key Requirements PROMPT example:

Rental Contract With Option To Buy

"I need a Rental Contract with Option to Buy for a commercial warehouse property in Kuala Lumpur, with a monthly rental of RM 15,000 and an option to purchase at RM 2.5 million that can be exercised within the first 18 months of the rental period starting January 2025."

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Document background
The Rental Contract With Option to Buy is a specialized agreement used in Malaysia when parties wish to combine a property rental arrangement with the possibility of a future purchase. This document is particularly useful in situations where a potential buyer wishes to occupy and evaluate a property before committing to a purchase, or when they need time to arrange financing. The agreement includes comprehensive terms covering both the rental phase (including rent amounts, maintenance, and tenant obligations) and the purchase option (including option period, purchase price, and exercise procedures). It is commonly used in both residential and commercial contexts and must comply with Malaysian property law, contract law, and relevant state-specific regulations. The document protects both parties by clearly defining their rights and obligations during the rental period and establishing concrete terms for the potential property transfer.
Suggested Sections

1. Parties: Identification of the landlord/seller and tenant/potential buyer with full legal names and addresses

2. Background: Context of the agreement, including brief property description and parties' intentions regarding rental and potential purchase

3. Definitions: Key terms used throughout the agreement including Property, Term, Rent, Option Period, Purchase Price

4. Rental Terms: Core rental provisions including rent amount, payment terms, duration, and renewal options

5. Property Use and Maintenance: Permitted use of property, maintenance responsibilities, and condition requirements

6. Option to Purchase: Terms of the purchase option, including option period, exercise process, and purchase price calculation

7. Exercise of Option: Procedure for exercising the option, including notice requirements and timeline

8. Completion of Purchase: Process and requirements for completing the property purchase if option is exercised

9. Security Deposit: Details of security deposit, including amount, holding terms, and conditions for return

10. Insurance: Required insurance coverage for both rental period and potential purchase

11. Default and Remedies: Consequences of default under either rental or option terms

12. Governing Law: Specification of Malaysian law as governing law and jurisdiction

13. Notices: Process for formal communications between parties

14. Execution: Signature blocks and execution requirements

Optional Sections

1. Utilities and Services: Used when there are specific arrangements for utility payments or service provisions

2. Renovation Rights: Include when tenant is permitted to make modifications to the property

3. Assignment and Subletting: Include when transfer rights need to be specifically addressed

4. Option Premium: Include when there is a separate payment for the purchase option

5. Rent-to-Purchase Credits: Include when portion of rent payments will be credited toward purchase price

6. Property Management: Include for properties within managed communities or buildings

7. Break Clause: Include when early termination options are allowed

8. Force Majeure: Include when specific provisions for unforeseen circumstances are needed

Suggested Schedules

1. Property Description: Detailed description of property including boundaries, fixtures, and fittings

2. Rent Payment Schedule: Detailed breakdown of rent payments, including any scheduled increases

3. Property Condition Report: Initial condition assessment and inventory of the property

4. Purchase Price Calculation: Formula or method for determining final purchase price, including any rent credits

5. Permitted Modifications: List of allowed alterations or improvements to the property

6. Service Charges: Breakdown of any additional charges or maintenance fees

7. Required Insurance Coverage: Specific insurance requirements and minimum coverage amounts

8. Option Exercise Form: Template form for exercising the purchase option

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions








































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Relevant Industries

Real Estate

Property Development

Residential Property

Commercial Property

Retail

Industrial

Hospitality

Agriculture

Office Space

Manufacturing

Warehousing

Mixed-Use Development

Relevant Teams

Legal

Real Estate

Property Management

Operations

Finance

Compliance

Risk Management

Business Development

Facilities Management

Asset Management

Relevant Roles

Real Estate Agent

Property Manager

Legal Counsel

Contract Manager

Property Developer

Facilities Manager

Real Estate Investment Manager

Asset Manager

Business Development Manager

Operations Manager

Chief Financial Officer

Risk Manager

Compliance Officer

Property Administrator

Leasing Manager

Industries







Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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