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New Lease Agreement
I need a New Lease Agreement for a Grade A commercial office space in Central, Hong Kong, with a 3-year term starting March 1, 2025, including provisions for a fit-out period and special terms for shared conference facilities.
1. Parties: Identification and details of the landlord and tenant, including 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 important defined terms
4. Demise: The formal grant 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 provisions
7. Deposit: Security deposit amount, terms of holding and return conditions
8. Tenant's Covenants: Core obligations of the tenant including maintenance, permitted use, and conduct restrictions
9. Landlord's Covenants: Core obligations of the landlord including quiet enjoyment and structural repairs
10. Utilities and Outgoings: Responsibility for utilities, management fees, government rent, and rates
11. Insurance: Required insurance coverage and responsibilities of each party
12. Termination: Circumstances and procedures for early termination and consequences
13. Assignment and Subletting: Restrictions on transfer of the lease or subletting the property
14. Notices: How formal notices must be given between parties
15. Governing Law: Confirmation of Hong Kong law as governing law and jurisdiction
16. Execution: Signature blocks and execution formalities
1. Special Conditions: Additional terms specific to the property or circumstances, used when there are unique features or requirements
2. Break Clause: Optional early termination rights, included when parties want flexibility to end the lease early
3. Rent Review: Mechanism for adjusting rent during the term, used in longer leases
4. Management Company Provisions: Required when the property is part of a managed building or complex
5. Renovation and Alterations: Detailed provisions about permitted modifications, used when significant alterations are anticipated
6. Car Parking: Terms related to parking facilities, included when parking spaces are part of the lease
7. Air-Conditioning: Special provisions for central air-conditioning services and charges, used in commercial buildings
8. Guarantor Provisions: Required when there is a guarantor for the tenant's obligations
1. Schedule 1 - Property Description: Detailed description of the leased premises including floor plan and boundaries
2. Schedule 2 - Inventory: List of furniture, fixtures, and equipment included in the lease
3. Schedule 3 - House Rules: Building or estate rules and regulations
4. Schedule 4 - Fitting Out Guidelines: Specifications for any permitted renovations or alterations
5. Schedule 5 - Service Charges: Breakdown of management fees and other service charges
6. Appendix A - Handover Condition: Photos and description of the property condition at handover
7. Appendix B - Approved Plans: Floor plans and approved layouts of the premises
Authors
Real Estate
Commercial Property
Residential Property
Retail
Office Space
Industrial
Hospitality
Food and Beverage
Healthcare
Education
Professional Services
Legal
Real Estate
Facilities Management
Operations
Finance
Compliance
Risk Management
Property Management
Asset Management
Administration
Property Manager
Real Estate Manager
Facilities Manager
Legal Counsel
Corporate Lawyer
Real Estate Agent
Leasing Manager
Asset Manager
Property Administrator
Operations Manager
Commercial Director
Chief Financial Officer
Compliance Officer
Risk Manager
Business Development Manager
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