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Standard Property Lease Agreement Template for Nigeria

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Key Requirements PROMPT example:

Standard Property Lease Agreement

"I need a Standard Property Lease Agreement for a commercial warehouse in Lagos, Nigeria, starting March 1, 2025, with specific provisions for heavy machinery usage and 24/7 access requirements."

Document background
The Standard Property Lease Agreement serves as a fundamental legal instrument in Nigerian property transactions, essential for both residential and commercial property leasing. This document is designed to comply with Nigerian federal and state-specific property laws, including the Recovery of Premises Act, Land Use Act, and relevant state property legislation. It should be used whenever a property owner (landlord) wishes to grant temporary possession and use rights to a tenant in exchange for rent, whether for residential, commercial, or mixed-use properties. The agreement comprehensively covers crucial aspects such as rent terms, maintenance responsibilities, security deposits, insurance requirements, and termination provisions, while incorporating necessary legal safeguards and compliance measures required under Nigerian law.
Suggested Sections

1. Parties: Identification of landlord and tenant with full legal names and addresses

2. Background: Brief context of the lease arrangement and property ownership

3. Definitions: Key terms used throughout the agreement including Property, Term, Rent, and other relevant definitions

4. Demise: The formal granting of the lease and specification of the property being leased

5. Term: Duration of the lease, including start and end dates

6. Rent and Payment Terms: Rent amount, payment schedule, method of payment, and late payment consequences

7. Security Deposit: Amount, terms of holding, and conditions for return of security deposit

8. Utilities and Service Charges: Responsibility for utilities, maintenance charges, and other ongoing costs

9. Tenant's Covenants: Tenant's obligations including maintenance, permitted use, and conduct rules

10. Landlord's Covenants: Landlord's obligations including repairs, insurance, and quiet enjoyment

11. Insurance: Required insurance coverage for both parties

12. Termination: Circumstances and process for lease termination

13. Notices: Process and addresses for formal communications between parties

14. Governing Law: Specification of Nigerian law and relevant jurisdiction

15. Execution: Signature blocks and attestation requirements

Optional Sections

1. Guarantor Provisions: Required when there is a guarantor for the tenant's obligations

2. Break Clause: Optional early termination provisions if agreed by parties

3. Subletting and Assignment: Include if subletting or assignment rights are to be granted

4. Alterations and Improvements: Detailed provisions for when tenant is permitted to make changes to the property

5. Option to Renew: Include if tenant is granted right to extend the lease term

6. Special Use Restrictions: For properties with specific use limitations or requirements

7. Force Majeure: Provisions for unforeseen circumstances affecting lease obligations

8. Environmental Provisions: Required for properties with specific environmental concerns or requirements

Suggested Schedules

1. Schedule 1 - Property Description: Detailed description of the leased property including boundaries and floor plans

2. Schedule 2 - Inventory: List of fixtures, fittings, and furniture included in the lease

3. Schedule 3 - Service Charges: Breakdown of service charges and calculation method

4. Schedule 4 - House Rules: Specific rules and regulations for property use and maintenance

5. Schedule 5 - Condition Report: Initial condition of the property with photographs

6. Appendix A - Required Permits: Copies of relevant permits and certificates

7. Appendix B - Insurance Requirements: Detailed insurance specifications

8. Appendix C - Utility Agreements: Details of utility arrangements and responsibilities

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈ˰æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions








































Clauses































Relevant Industries

Real Estate

Retail

Commercial Office

Industrial

Hospitality

Healthcare

Education

Manufacturing

Warehousing

Professional Services

Banking and Financial Services

Technology

Relevant Teams

Legal

Real Estate

Facilities Management

Operations

Finance

Administration

Compliance

Risk Management

Property Management

Asset Management

Relevant Roles

Real Estate Manager

Property Manager

Facilities Manager

Legal Counsel

Corporate Counsel

Real Estate Agent

Leasing Manager

Asset Manager

Operations Manager

Commercial Director

Chief Financial Officer

Business Development Manager

Administration Manager

Compliance Officer

Property Administrator

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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