Rent / Lease Agreement

RENT / LEASE AGREEMENT

(Residential / Commercial Property — Pakistan)

This Rent Agreement is made and executed at [City] on this [Day] day of [Month], [Year] by and BETWEEN:

Mr./Mrs. [Full Name] S/o / D/o / W/o [Father's / Husband's Name], holder of CNIC No. [CNIC Number], resident of [Address] (hereinafter referred to as the “LESSOR/LANDLORD” which expression shall, wherever the context so permits, include his/her heirs, successors, legal representatives and assigns) of the ONE PART.

AND

Mr./Mrs. [Full Name] S/o / D/o / W/o [Father's / Husband's Name], holder of CNIC No. [CNIC Number], resident of [Address] (hereinafter referred to as the “LESSEE/TENANT” which expression shall, wherever the context so permits, include his/her heirs, successors, legal representatives and assigns) of the OTHER PART.

WHEREAS

The Lessor is the lawful and absolute owner in possession of [Property Type] bearing No. [House / Plot / Shop No.], measuring [Area / Size], situated at [Full Address of Premises] (hereinafter referred to as “the Premises”), and has agreed to let out the same to the Lessee, and the Lessee has agreed to take the Premises on rent, on the following terms and conditions:

NOW THIS AGREEMENT WITNESSES AS FOLLOWS

The Lessor lets out and the Lessee takes on rent the Premises described above, together with fittings and fixtures as mutually inspected and agreed, for use as [Purpose of Use] (residential/commercial).

The monthly/annual rent of the Premises shall be Rs. [Rent Amount (Figures)]/- ([Rent Amount (in Words)] Only), payable in advance by the Lessee to the Lessor on or before the [Rent Due Day] day of each [Rent Period].

The Lessee has paid an amount of Rs. [Security Deposit (Figures)]/- ([Security Deposit (in Words)] Only) as an interest-free refundable security deposit, which shall be refunded by the Lessor to the Lessee at the time of vacation of the Premises, subject to clause 12 below.

This Agreement is for a period of [Lease Term], commencing from [Start Date] and ending on [End Date], renewable thereafter on mutually agreed terms between the parties.

On expiry/renewal of the term, the rent shall be enhanced by [Rent Increase on Renewal (%)]% of the prevailing monthly rent, or as mutually agreed in writing.

The Lessee shall pay all utility charges (electricity, gas, water, telephone, internet) pertaining to the Premises directly to the concerned departments/service providers on time.

The Lessee shall not sublet, assign, or part with possession of the Premises, in whole or in part, to any third party without the prior written consent of the Lessor, and shall not use the Premises for any illegal or unlawful purpose.

Either party may terminate this Agreement by giving [Termination Notice Period] prior written notice to the other party.

The Lessee shall, at all times, be entitled to hold, use and quietly enjoy the Premises without interruption or disturbance from the Lessor or any person claiming through the Lessor, provided the Lessee complies with the terms of this Agreement.

The Lessor shall be responsible for payment of property tax and other government/semi-government dues and levies pertaining to the Premises.

The Lessor shall be responsible for major structural repairs of the Premises; minor day-to-day maintenance shall be the responsibility of the Lessee. If the Lessor fails to carry out necessary repairs within [Repair Notice Period] of written notice, the Lessee may carry out such repairs and adjust the reasonable cost against the rent payable.

At the expiry or earlier termination of this Agreement, the Lessee shall hand over vacant and peaceful possession of the Premises to the Lessor in the same condition as received, normal wear and tear excepted.

Any dispute arising out of or in connection with this Agreement shall be subject to the exclusive jurisdiction of the courts at [City].

IN WITNESS WHEREOF the parties hereto have set their respective hands on this Agreement on the day, month and year first above written, in the presence of the following witnesses.

<w:tab w:val="right" w:pos="9026"/></w:tabs><w:spacing w:before="500"/></w:pPr><w:r><w:t xml:space="preserve">_______________________ _______________________

<w:tab w:val="right" w:pos="9026"/></w:tabs></w:pPr><w:r><w:rPr><w:b/><w:bCs/></w:rPr><w:t xml:space="preserve">LESSEE / TENANT LESSOR / LANDLORD

<w:tab w:val="right" w:pos="9026"/></w:tabs></w:pPr><w:r><w:t xml:space="preserve">[Full Name] [Full Name]

<w:tab w:val="right" w:pos="9026"/></w:tabs></w:pPr><w:r><w:t xml:space="preserve">S/o [Father's / Husband's Name] S/o [Father's / Husband's Name]

<w:tab w:val="right" w:pos="9026"/></w:tabs></w:pPr><w:r><w:t xml:space="preserve">CNIC: [CNIC Number] CNIC: [CNIC Number]

WITNESSES:

1. Name: [Witness 1 Name] CNIC: [Witness 1 CNIC] Signature: _______________

2. Name: [Witness 2 Name] CNIC: [Witness 2 CNIC] Signature: _______________