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This One Year Lease Agreement template is designed for use in the Malaysian property market, where fixed-term leases are common for both residential and commercial properties. The document incorporates essential elements required under Malaysian law, including provisions from the National Land Code 1965, Contracts Act 1950, and Stamp Act 1949. It is particularly useful for landlords, property managers, and tenants seeking a clear, legally-compliant framework for their rental arrangement. The agreement covers crucial aspects such as rental payments, security deposits, maintenance obligations, and termination procedures, while allowing for customization based on specific property types and circumstances. This template ensures that all parties' rights and obligations are clearly defined and enforceable under Malaysian jurisdiction.

1. Parties: Identification and details of the landlord and tenant, including full legal names, identification numbers, and contact information

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

3. Definitions: Definitions of key terms used throughout the agreement

4. Demised Premises: Detailed description of the property being leased, including address and specific areas included

5. Term and Possession: Duration of lease, commencement date, and possession details

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

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

8. Utilities and Maintenance: Responsibilities for utility payments and property maintenance

9. Tenant's Covenants: Obligations and restrictions on the tenant's use of the property

10. Landlord's Covenants: Obligations of the landlord regarding property maintenance and tenant's peaceful enjoyment

11. Insurance: Required insurance coverage and responsibilities

12. Termination: Conditions and procedures for early termination

13. Notices: Method and addresses for serving formal notices

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