Olympuz Rental Rooms, Transient & Bedspacer
Residential Room Rental Agreement
Terms and Conditions
This Residential Room Rental Agreement is entered into between Edward Mapa Belacse, representing Olympuz Rental Rooms, Transient & Bedspacer (hereinafter referred to as the “Landlord”), and the registered renter or lodger (hereinafter referred to as the “Renter”).
By booking, occupying, or renting a room or bedspace, the Renter acknowledges and agrees to comply with the following terms and conditions.
1. Term of Occupancy
1.1. Occupancy shall begin on the agreed move-in date and continue according to the rental period agreed upon by the Landlord and Renter.
1.2. The rented room or bedspace is strictly for residential use and may only be occupied by the registered Renter.
1.3. Subletting, sharing the rented space, or allowing unauthorized occupants is prohibited without the Landlord’s prior approval.
1.4. Either party may terminate the rental agreement in accordance with the agreed terms and applicable Philippine law.
2. Rental Payment Terms
2.1. The monthly rental fee shall be the amount agreed upon and displayed in the Renter’s booking or payment details.
2.2. Rental payments are due on or before the first (1st) day of every calendar month, unless another payment date has been agreed upon in writing.
2.3. Advance rental payments and other required payments shall be settled according to the terms agreed upon before occupancy.
2.4. Payments shall be made through the payment methods authorized by the Landlord. Any applicable transaction fees shall be shouldered by the Renter.
2.5. Overdue Payment Penalty – 10%
If the rental payment remains unpaid after the agreed due date, the Renter shall be charged a one-time late payment penalty equivalent to ten percent (10%) of the overdue rental amount for that rental period.
The penalty shall be calculated based on the outstanding rental balance only and shall not be compounded.
For example, if the monthly rent is ₱5,000.00 and remains unpaid after the due date, the 10% penalty shall amount to ₱500.00, bringing the total overdue rental amount to ₱5,500.00, excluding other applicable charges.
If only part of the rent remains unpaid, the penalty shall be calculated based on the remaining unpaid rental balance.
The penalty shall be subject to applicable Philippine law, including any applicable judicial review of contractual penalties.
2.6. Payment of the penalty does not remove the Renter’s obligation to settle the outstanding rent and other valid charges.
2.7. In cases of non-payment, the Landlord may issue a written demand and pursue appropriate legal remedies in accordance with applicable law.
3. Security Deposit
3.1. The Renter shall pay the security deposit in the amount agreed upon before occupancy.
3.2. The security deposit may be used to cover documented unpaid rent, unpaid utilities, agreed fees, property damage beyond ordinary wear and tear, missing keys, necessary cleaning expenses caused by the Renter, and other lawful liabilities under this Agreement.
3.3. The Landlord shall provide an accounting of applicable deductions.
3.4. Any remaining refundable balance shall be returned after the Renter vacates the premises and outstanding liabilities have been determined, subject to applicable law.
3.5. The security deposit shall not automatically be forfeited solely because of early departure or a dispute. Any deduction or retention must comply with this Agreement and applicable law.
4. Utilities and Additional Fees
The following standard charges may apply, subject to the terms agreed upon for the assigned room or bedspace:
- Room Rental: ₱5,000.00 per month
- Electricity: Maximum allocation of 20 kWh per agreed billing period
- Building Maintenance: ₱200.00 per person
- Internet/Wi-Fi: Free shared access
4.1. Electricity consumption exceeding the stated allocation shall be charged based on the applicable rate, supported by the relevant bill or calculation.
4.2. Changes to recurring utility or service charges must be communicated in writing and must comply with applicable law and the agreed rental terms.
4.3. Unpaid utility charges that have been properly billed and are due may be included in the Renter’s outstanding account.
5. House Rules and Conduct
The Renter agrees to observe the following house rules:
5.1. Maintain cleanliness and proper sanitation within the rented space and common areas.
5.2. Dispose of garbage responsibly and follow the property’s waste disposal procedures.
5.3. Turn off lights, fans, air-conditioning units, and other appliances when not in use.
5.4. Avoid excessive noise, loud music, shouting, and disturbances.
5.5. Respect fellow occupants, neighbors, staff, and the Landlord.
5.6. Refrain from unlawful activities, violence, harassment, and conduct that threatens the safety of other occupants.
5.7. Avoid damaging, removing, or misusing the Landlord’s property, facilities, and equipment.
5.8. The Landlord or an authorized representative may inspect the rented space at a reasonable time after reasonable notice, except in emergencies or other circumstances permitted by law.
6. Visitors and Guest Policy
6.1. Visitors must comply with the property’s security procedures and house rules.
6.2. Visitors staying beyond two (2) hours may incur a fee of ₱100.00 per visitor per day or night, provided that the fee has been disclosed to and agreed upon by the Renter.
6.3. Overnight visitors require prior approval from the Landlord.
6.4. The Renter shall be responsible for the conduct of their visitors and for any damage caused by them.
6.5. Repeated or serious violations of the visitor policy may be grounds for termination, subject to applicable notice requirements and Philippine law.
7. Breach, Termination, and Recovery of Possession
7.1. Grounds for taking action under this Agreement may include:
- Unpaid rental payments or valid charges
- Repeated late payments
- Serious or repeated violations of house rules
- Unauthorized occupants or subletting
- Property damage
- Unlawful activities
- False material information provided by the Renter
- Conduct that threatens the safety, security, or peaceful enjoyment of the premises
7.2. Where appropriate, the Landlord may issue written notice describing the violation and allowing a reasonable opportunity to correct it.
7.3. Termination and recovery of possession shall follow applicable Philippine law, including any required notices and legal procedures.
7.4. Nothing in this Agreement authorizes unlawful lockouts, forced removal, or unauthorized disposal of the Renter’s personal belongings.
7.5. Upon termination, the Renter must remove personal belongings and return all keys. Items left behind shall be handled in accordance with applicable law.
8. Liability and Damages
8.1. The Renter is responsible for taking reasonable care of personal belongings. Any limitation of the Landlord’s liability shall apply only to the extent permitted by law.
8.2. The Renter shall reimburse reasonable and documented repair costs for damage caused by the Renter or the Renter’s visitors, excluding ordinary wear and tear.
8.3. Nothing in this Agreement excludes liability that cannot legally be excluded under Philippine law.
9. Landlord and Renter Responsibilities
9.1. The Landlord shall manage the premises and communicate reasonable house rules and applicable charges.
9.2. Material changes to rental fees, recurring charges, or essential terms must be communicated in writing and implemented in accordance with the agreed rental terms and applicable law.
9.3. The Renter shall maintain accurate contact information and promptly report maintenance, safety, or security concerns.
10. Governing Law and Disputes
10.1. This Agreement shall be governed by the laws of the Republic of the Philippines.
10.2. The Landlord and Renter shall first attempt to resolve disputes amicably.
10.3. If an amicable resolution cannot be reached, either party may pursue the remedies available under Philippine law.
11. Entire Agreement and Acknowledgment
11.1. This Agreement and any written, signed addenda constitute the agreement between the Landlord and Renter concerning the rental.
11.2. Any amendments to the rental terms should be made in writing and acknowledged by both parties.
11.3. By signing or electronically accepting this Agreement, the Renter confirms that they have read or had the terms explained to them, understand the conditions, and voluntarily agree to comply with them.
Renter Acknowledgment
I acknowledge that I have read and understood the Rental Agreement Terms and Conditions of Olympuz Rental Rooms, Transient & Bedspacer, including the 10% penalty on overdue rental payments. I agree to comply with the rental payment terms, security deposit provisions, utility charges, house rules, visitor policy, and other applicable conditions of occupancy.