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Rental Agreement With Option To Purchase
"I need a Rental Agreement with Option to Purchase for a commercial retail space in Kuala Lumpur, with a 24-month rental period starting March 1, 2025, and an option to purchase that can be exercised after 18 months at a fixed price of RM 2.5 million."
1. Parties: Identification of landlord/seller and tenant/purchaser with full details
2. Background: Context of the agreement and brief description of the property and transaction structure
3. Definitions: Key terms used throughout the agreement
4. Property Details: Comprehensive description of the property including address and title details
5. Rental Terms: Rent amount, payment schedule, security deposit, and duration of tenancy
6. Option to Purchase: Terms of the purchase option including price, validity period, and exercise process
7. Tenant Obligations: Responsibilities and obligations during the rental period
8. Landlord Obligations: Responsibilities and obligations during the rental period
9. Maintenance and Repairs: Responsibilities for property maintenance and repairs
10. Insurance: Required insurance coverage for both parties
11. Default and Remedies: Consequences of default by either party
12. Termination: Conditions and process for termination of the agreement
13. Notices: Process for giving formal notices under the agreement
14. Governing Law: Specification of Malaysian law as governing law
15. Execution: Signature blocks and execution requirements
1. Utilities and Services: Details of responsibility for utilities when these are not included in rent
2. Renovation Rights: Include when tenant is permitted to make alterations to the property
3. Assignment and Subletting: Include when these rights are to be granted or specifically prohibited
4. Option Extension: Include when there's a possibility to extend the option period
5. Property Management: Include when there's a property manager or management company involved
6. Mortgage Details: Include when the property is subject to an existing mortgage
7. Special Conditions: Include when there are unique requirements or conditions
8. Force Majeure: Include when parties want specific provisions for unforeseen circumstances
1. Schedule 1 - Property Description: Detailed description of the property including floor plans and boundaries
2. Schedule 2 - Inventory List: List of furniture and fittings included in the rental
3. Schedule 3 - Payment Schedule: Detailed breakdown of rental payments and purchase option payments
4. Schedule 4 - Property Condition Report: Initial condition report of the property
5. Schedule 5 - Option Exercise Form: Template form for exercising the purchase option
6. Appendix A - Property Title Documents: Copies of relevant title documents
7. Appendix B - Property Insurance Certificates: Copies of required insurance certificates
8. Appendix C - Rules and Regulations: If applicable, building or community rules and regulations
Authors
Property
Landlord
Tenant
Commencement Date
Rental Period
Monthly Rent
Security Deposit
Utility Deposit
Option Fee
Option Period
Purchase Price
Exercise Notice
Completion Date
Identity Card
Business Day
Common Areas
Fixtures
Fittings
Force Majeure
Interest Rate
Maintenance Charges
Notice
Option Exercise Date
Permitted Use
Premises
Purchase Deposit
Rental Term
Service Charges
Title Documents
Building
Completion
Default
Stamp Duty
Tenancy
Insurance
Land Office
Legal Fees
Security Interest
Valuation Report
Recitals
Definitions
Property Description
Rental Terms
Option Grant
Option Exercise
Purchase Terms
Payment Terms
Security Deposit
Property Use
Maintenance
Insurance
Utilities
Property Access
Alterations
Assignment
Subletting
Default
Remedies
Termination
Force Majeure
Indemnification
Warranties
Representations
Notices
Dispute Resolution
Governing Law
Entire Agreement
Severability
Amendment
Registration
Costs
Stamp Duty
Execution
Real Estate
Property Development
Property Management
Residential Housing
Commercial Property
Retail
Hospitality
Industrial
Agriculture
Professional Services
Legal
Real Estate
Property Management
Facilities Management
Finance
Risk Management
Operations
Asset Management
Contract Administration
Compliance
Corporate Services
Property Manager
Real Estate Agent
Legal Counsel
Property Developer
Facilities Manager
Asset Manager
Investment Manager
Corporate Real Estate Manager
Property Acquisitions Manager
Leasing Manager
Contract Administrator
Risk Manager
Financial Controller
Chief Financial Officer
Chief Operating Officer
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