Corporate Lease For Residential Property

Corporate Lease For Residential Property Template for Malaysia

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Key Requirements PROMPT example:

"I need a Corporate Lease For Residential Property agreement for a luxury condominium in Kuala Lumpur's KLCC area, starting March 2025, with specific provisions for expatriate executive housing including premium amenities access and a corporate guarantee clause."

Document background

The Corporate Lease For Residential Property is essential for companies operating in Malaysia that need to secure residential accommodation for their employees or business purposes. This document is particularly relevant when corporations require formal lease arrangements that comply with both Malaysian corporate and property laws. It encompasses crucial elements such as corporate authorizations, property specifications, payment terms, and maintenance responsibilities. The agreement must align with Malaysian legislation including the National Land Code 1965, Companies Act 2016, and relevant state-specific regulations. This type of lease is commonly used for executive housing, expatriate accommodation, or employee housing benefits, requiring careful consideration of both corporate governance and residential tenancy requirements.

Suggested Sections

1. Parties: Identification of the landlord and the corporate tenant, including registration numbers and registered addresses

2. Background: Context of the lease arrangement and brief description of the property

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

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

5. Term and Possession: Duration of the lease and possession arrangements

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

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

8. Utility Charges: Responsibility for utilities and other outgoings

9. Use of Premises: Permitted use of the property and restrictions

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

11. Insurance: Insurance requirements for both parties

12. Corporate Tenant's Covenants: Specific obligations and promises of the corporate tenant

13. Landlord's Covenants: Specific obligations and promises of the landlord

14. Termination: Circumstances and procedures for early termination

15. Governing Law: Confirmation of Malaysian law as governing law and jurisdiction

16. Execution: Signing requirements and attestation

Optional Sections

1. Option to Renew: Terms for lease renewal - include when the parties want to pre-agree renewal terms

2. Fit-out Works: Provisions for renovation or modification - include when the tenant needs to perform initial modifications

3. Break Clause: Early termination options - include when parties want flexibility to end the lease early

4. Assignment and Subletting: Rights to transfer the lease - include when the tenant may need to transfer rights

5. Force Majeure: Provisions for unforeseen circumstances - include when specifically requested by parties

6. Green Building Requirements: Environmental compliance obligations - include for green-certified buildings

7. Guarantees: Corporate guarantee provisions - include when additional security is required

8. Common Areas: Rights and obligations regarding shared spaces - include for properties in multi-tenant buildings

Suggested Schedules

1. Property Description: Detailed description of the property including floor plans and boundaries

2. Inventory: List of fixtures, fittings, and furnishings included in the lease

3. Rent Schedule: Detailed breakdown of rent payments and review dates

4. Building Rules: Specific rules and regulations for the property

5. Condition Report: Documentation of property condition at commencement

6. Fit-out Specifications: Approved plans and specifications for any permitted modifications

7. Service Charges: Breakdown of service charges if applicable

8. Insurance Requirements: Detailed insurance obligations for both parties

9. Authorization Documents: Corporate authorizations and board resolutions

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok��˰� | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Real Estate

Corporate Housing

Oil & Gas

Banking & Financial Services

Technology

Manufacturing

Professional Services

Mining

Education

Healthcare

Hospitality

Construction

Telecommunications

Relevant Teams

Legal

Human Resources

Finance

Compliance

Facilities Management

Corporate Services

Risk Management

Operations

Procurement

Administrative Services

Real Estate

Relevant Roles

Legal Counsel

Corporate Real Estate Manager

Facilities Manager

Human Resources Director

Chief Financial Officer

Compliance Officer

Property Manager

Real Estate Director

Corporate Services Manager

Procurement Manager

Risk Manager

Operations Director

Relocation Manager

Company Secretary

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