The Renewal of Tenancy Agreement is a crucial document used in the Philippines when parties wish to extend an existing lease arrangement. It is particularly relevant when the original tenancy agreement is approaching its end date and both parties agree to continue their landlord-tenant relationship. This document must comply with Philippine legislation, including the Rent Control Act of 2009 and relevant provisions of the Civil Code of the Philippines. The renewal agreement typically includes updated rental terms, any modifications to the original agreement, and confirmation of continuing conditions. It's essential for both residential and commercial properties, requiring careful consideration of rent control limits, permitted increases, and any new terms that reflect changes in circumstances or market conditions. The document serves as a legal bridge between the original agreement and the new term, ensuring continuous protection of both parties' rights and obligations under Philippine law.
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1. Parties: Identification of the landlord and tenant with complete details including names, addresses, and contact information
2. Background: Reference to the original tenancy agreement, its date, and confirmation that both parties wish to renew the tenancy
3. Definitions: Key terms used in the agreement, including any new terms not present in the original agreement
4. Renewal Term: Specific period of the renewal, including start and end dates
5. Rent and Payment Terms: Updated rental amount, payment schedule, and any rent increases in compliance with the Rent Control Act
6. Confirmation of Original Terms: Statement confirming which terms from the original agreement remain in effect
7. Modified Terms: Clear specification of any terms that differ from the original agreement
8. Property Maintenance and Repairs: Updated responsibilities for maintenance and repairs during the renewal period
9. Utilities and Services: Confirmation of responsibility for utility payments and services
10. Execution: Signature blocks for all parties and witnesses
1. Security Deposit Adjustment: Include if there are changes to the security deposit amount or terms
2. Property Improvements: Include if there are agreed modifications or improvements to be made during the renewal period
3. Additional Occupants: Include if there are changes to the authorized occupants of the property
4. Special Conditions: Include if there are any new special conditions or requirements specific to the renewal period
5. Insurance Requirements: Include if there are changes to insurance requirements for either party
6. Early Termination Provisions: Include if specific early termination rights are being granted in the renewal period
1. Schedule 1 - Property Details: Updated description and inventory of the property and its contents
2. Schedule 2 - Rent Payment Schedule: Detailed breakdown of rent payments, including any scheduled increases
3. Schedule 3 - Property Condition Report: Current condition of the property at the time of renewal
4. Appendix A - Original Agreement: Copy of the original tenancy agreement for reference
5. Appendix B - Modified Terms Summary: Summary table comparing original terms with modified terms in the renewal
6. Appendix C - Property Rules and Regulations: Updated building or property rules if any changes from original agreement
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