Compass Real Estate > Cambodia Investment Guides > Precatious for rent housing contract.

Precatious for rent housing contract.

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2021-09-14
Summary:Precatious for rent housing contract.

No matter you are regardless of the lease term, you must ensure that you have housing for rent out and a legal lease document for your potential tenant. The minor edition provides you with some basic information about the rental agreement for your convenience in preparing or signing the rental agreement in Cambodia.
1. What is lease contract?
The lease contract is an official document that correctly identifies the lessor (lessor), the lessee (lessee) and the leased house. This document details the lease term and rental fee, as well as the terms and conditions of the lease agreement.
2. Who should be in the lease contract?
When you find the right tenant, you are advised to draft a written agreement. The legal contract is completed by both the lessor and the lessee. The parties in the agreement should be 100% clear about their respective rights and obligations.
The contract also permits and stipulates that the lessee temporarily uses the owner's house in law and pays the rental to the owner. In case of disputes, both parties shall retain a copy of this Agreement for reference.
In the contract, if the situation of either lessor or lessee changes, both parties can conclude a clause to protect themselves. If this happens, both parties should make supplementary amendments in time.
3. The lease agreement shall include
Both sides must face to face and clearly write down their respective conditions and requirements in housing leasing. It mainly includes:
Property description (describing the current location and general situation of the property);
Names, signatures or fingerprints and addresses of both parties;
Reasonable increases in current and future rent expectations;
Period of rent payment (monthly, quarterly or annual);
The amount of deposit;
Monthly payment amount;
Lease period;
The notice period for termination of the contract;
Renewable terms and conditions;
The obligations of the lessor;
The obligations of the lessee;
Decoration permit;
The number of residents;
Tax liability (generally by the lessor, but can be changed according to the discussion).
All other expenses must be paid by the lessee (waste collection, public lighting, electricity and water bills), unless otherwise agreed in the lease agreement.
4. Inventory List (Separate Documents)
The inventory is designed to describe all existing furniture (including photographs) in the property before the tenant moves in. This is essential to ensure that both parties are aware of the financial aspects of the rent, especially for the lessor, to ensure that no furniture or movable property will be removed by the lessee without permission or repair.
The lessor also needs to list all the shortcomings of the current rental house and the agreement between the two parties. Whether the lessor or the lessee is responsible for repairing them, this is usually the responsibility of the lessee. Generally speaking, this is explained in a separate document.
Contracts between lessors and lessees are essential for determining the obligations of both parties to ensure that no confusion exists between any party to the lease. If any dispute arises, the interests of both parties can also be protected. (This article is excerpted from the Internet.)

Disclaimer: The re-forward articles on Compass website are for the purpose of conveying more information, and it does not mean that the Compass website agrees with its views or confirms the authenticity of its content. Article noted as "Source: Compass original", please note that the source from Compass. The content of the article is for reference only and should not consider as investment advice, and it does not mean that Compass agree with its views.

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