51��Ƶ����

The Corporate Lease For Residential Property agreement is essential for businesses operating in the Philippines that need to secure residential accommodations for their employees or business purposes. This document is particularly relevant when companies require long-term residential leases for executives, expatriate staff, or employee housing programs. It addresses specific requirements under Philippine law, including the Civil Code of the Philippines, the Rent Control Act, and corporate regulations. The agreement covers crucial aspects such as corporate guarantees, maintenance obligations, utility responsibilities, and specific terms for employee occupancy. It's designed to protect both the property owner's interests and the corporate tenant's rights while ensuring compliance with local property and corporate laws. The document is commonly used by multinational companies, large local corporations, and businesses with significant expatriate workforce or employee housing needs.

1. Parties: Identification of the lessor and the corporate lessee, including registration details and authorized representatives

2. Background: Context of the lease arrangement and brief description of the property and intended corporate residential use

3. Definitions: Key terms used throughout the agreement including Property, Commencement Date, Term, Rent, etc.

4. Demise: Formal grant of lease and description of the property being leased

5. Term and Renewal: Duration of lease, commencement date, and renewal options

6. Rent and Payment Terms: Rental amount, payment schedule, security deposit, and advance rent requirements

7. Utilities and Outgoings: Responsibility for utility connections, payments, and other operational costs

8. Use of Premises: Permitted use of the property for corporate residential purposes and occupancy restrictions

9. Maintenance and Repairs: Responsibilities of both parties regarding property maintenance and repairs

10. Insurance: Required insurance coverage for both parties

11. Lessor's Covenants: Obligations and warranties of the property owner

12. Lessee's Covenants: Obligations and warranties of the corporate tenant

13. Default and Termination: Events of default, remedies, and termination procedures

14. Assignment and Subletting: Restrictions and conditions for assignment or subletting

15. Governing Law: Application of Philippine law and jurisdiction

16. Notices: Process for serving formal notices between parties

17. Execution: Signature blocks and execution formalities