The Condominium Lease Agreement is essential for properly documenting the rental of condominium units in Pakistan's growing urban centers. This document is specifically designed to comply with Pakistani property laws and regulations, including federal statutes like the Transfer of Property Act 1882 and provincial rent control ordinances. It should be used whenever a condominium unit is being leased, whether for residential or commercial purposes. The agreement covers crucial aspects such as rent terms, maintenance responsibilities, common area usage, and building rules. It includes provisions for security deposits, utilities, and maintenance charges specific to condominium properties, while ensuring compliance with local registration requirements and stamp duty obligations. This template is particularly relevant for urban areas where condominium living is becoming increasingly popular and requires careful attention to shared property management and maintenance arrangements.
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1. Parties: Identification and details of the landlord/lessor and tenant/lessee
2. Background: Context of the agreement and brief description of the property
3. Definitions: Definitions of key terms used throughout the agreement
4. Property Description: Detailed description of the condominium unit, including unit number, floor, and covered area
5. Term and Possession: Duration of the lease and possession details
6. Rent and Payment Terms: Rental amount, payment schedule, and payment methods
7. Security Deposit: Amount, terms, and conditions for the security deposit
8. Utilities and Maintenance: Responsibility for utilities, maintenance, and repairs
9. Common Areas: Rights and obligations regarding common areas and facilities
10. Use of Premises: Permitted use of the property and restrictions
11. Landlord's Obligations: Responsibilities and commitments of the landlord
12. Tenant's Obligations: Responsibilities and commitments of the tenant
13. Insurance: Required insurance coverage and responsibilities
14. Default and Remedies: Consequences of default and available remedies
15. Termination: Conditions and procedures for termination
16. Governing Law: Applicable laws and jurisdiction
17. Notices: Method and addresses for official communications
18. Signatures: Execution clause and signature blocks
1. Subletting and Assignment: Include when subletting or assignment rights are to be specifically addressed
2. Pets: Include when specific pet policies need to be established
3. Parking: Include when dedicated parking spaces are part of the lease
4. Renovation and Alterations: Include when specific renovation or alteration rights need to be addressed
5. Force Majeure: Include when specific provisions for unforeseen circumstances are required
6. Building Rules: Include when there are specific building or society rules to be incorporated
7. Guarantor: Include when a guarantor is required for the lease
8. Option to Renew: Include when providing specific renewal terms
1. Schedule A - Property Details: Detailed floor plan and specifications of the condominium unit
2. Schedule B - Inventory List: List of fixtures, fittings, and furnishings included in the lease
3. Schedule C - Maintenance Charges: Breakdown of maintenance and service charges
4. Schedule D - Building Rules: Complete set of building rules and regulations
5. Schedule E - Condition Report: Initial condition report of the property
6. Schedule F - Payment Schedule: Detailed breakdown of all payments including rent, deposits, and charges
7. Appendix 1 - Registration Documents: Copies of property registration and ownership documents
8. Appendix 2 - Insurance Certificates: Copies of required insurance certificates
Relevant legal definitions
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Residential Housing
Commercial Property
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Property Development
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Facility Management
Relevant Teams
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Real Estate
Property Management
Operations
Compliance
Administrative
Facilities
Asset Management
Contract Management
Relevant Roles
Property Manager
Real Estate Agent
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Property Owner
Facility Manager
Leasing Manager
Real Estate Administrator
Property Management Executive
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Compliance Officer
Real Estate Portfolio Manager
Asset Manager
Building Manager
Operations Manager
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