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The Lease Renewal Form With Rent Increase is a crucial document used when extending an existing lease agreement while implementing a rent adjustment in the Philippines. It is specifically designed to comply with Republic Act No. 9653 (Rent Control Act) and related Philippine property laws, which set strict guidelines on allowable rent increases. This document is typically used at the end of a lease term when both parties agree to continue their landlord-tenant relationship but with adjusted rental terms. It must include specific references to the original lease, clear documentation of the new rental amount, and confirmation that the increase falls within legal limits. The form serves both residential and commercial purposes, requiring different considerations depending on the property type and local regulations. It's essential for maintaining legal compliance while documenting the updated terms of the continuing lease relationship.
