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Rental Termination Agreement
"I need a Rental Termination Agreement for our commercial warehouse property in Kuala Lumpur, with early termination effective March 1, 2025, including terms for the settlement of a RM50,000 security deposit and renovation restoration requirements."
1. Parties: Identification of the landlord and tenant with their full legal names, identification numbers, and addresses
2. Background: Brief recital of the existing tenancy agreement details including its date, property address, and current rental terms
3. Definitions: Definitions of key terms used in the agreement including 'Termination Date', 'Property', 'Original Lease', and 'Security Deposit'
4. Termination Agreement: Clear statement of mutual agreement to terminate the lease and the effective termination date
5. Security Deposit Settlement: Terms for the return or forfeiture of the security deposit, including any deductions for damages or outstanding payments
6. Property Handover: Specific requirements for the condition of the property upon return, inspection procedures, and key return process
7. Outstanding Payments: Settlement of any pending rental payments, utility bills, or other charges
8. Mutual Release: Mutual release of future obligations and claims related to the tenancy
9. Governing Law: Specification that the agreement is governed by Malaysian law
10. Execution: Signature blocks for all parties and witnesses
1. Forwarding Address: Section specifying tenant's forwarding address for future correspondence, particularly relevant if security deposit is to be returned later
2. Renovation Restoration: Required when the tenant has made alterations to the property and needs to restore it to original condition
3. Early Termination Fee: Applicable when the termination occurs before the original lease end date and includes penalty payments
4. Surviving Obligations: Details of any obligations that continue after termination, such as confidentiality or pending utility bills
5. Third Party Rights: Required when there are guarantors or other third parties involved in the original lease
1. Schedule 1 - Property Inventory: Detailed list of property condition and inventory at the time of termination
2. Schedule 2 - Outstanding Payments Calculation: Breakdown of any outstanding amounts including rent, utilities, or other charges
3. Schedule 3 - Security Deposit Deductions: Itemized list of any deductions from the security deposit
4. Appendix A - Property Inspection Report: Final inspection report documenting the condition of the property
5. Appendix B - Photographic Evidence: Photos documenting the property's condition at termination
Authors
Real Estate
Property Management
Retail
Commercial Office Space
Industrial
Hospitality
Residential Property
Manufacturing
Warehousing
Professional Services
Legal
Real Estate
Facilities Management
Operations
Administration
Compliance
Property Management
Asset Management
Leasing
Contract Management
Property Manager
Facilities Manager
Real Estate Manager
Legal Counsel
Leasing Manager
Asset Manager
Operations Manager
Administrative Officer
Compliance Officer
Contract Administrator
Real Estate Agent
Property Administrator
Tenant Relations Manager
Building Manager
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