Tenancy or lease renewal in Vietnam
Renewing a tenancy or lease agreement in Vietnam generally involves reviewing the existing terms, negotiating new conditions with the landlord or tenant, and drafting or signing a new agreement or an addendum. The process is primarily a private contractual matter between the parties involved.
It is advisable for parties to initiate discussions about lease renewal several months before the current agreement's expiration date. This allows sufficient time for negotiation of new terms, agreement on any rent adjustments, and the drafting of a new contract or an extension addendum. Early communication helps avoid last-minute disruptions and ensures a smooth transition.
Start 90 days ahead
This lead time allows adequate opportunity for negotiation of new terms, agreement on rent, and preparation of a new contract or addendum, preventing any lapse in agreement.
The process
- 1Review the terms and conditions of the current tenancy or lease agreement, including the expiration date and any clauses related to renewal.
- 2Initiate communication with the other party (landlord or tenant) to express interest in renewal and discuss potential new terms, such as rent adjustments, lease duration, or other conditions.
- 3Negotiate and agree upon the new terms for the extended tenancy, which may involve discussions about rent, maintenance responsibilities, or specific clauses.
- 4Draft a new tenancy agreement or an addendum to the existing contract, incorporating all agreed-upon new terms and specifying the new lease duration.
- 5Carefully review the new document to ensure all agreed terms are accurately reflected and understood by both parties.
- 6Sign the new tenancy agreement or addendum, with all parties retaining a copy. This may require notarization or witness signatures, depending on the agreement's nature and parties' preferences.
What to bring
- Original current tenancy or lease agreement
- Identification documents of all parties (e.g., identity cards or passports)
- Proof of ownership (for landlord, if applicable)
Who handles it
Landlord and Tenant (Chủ nhà và Người thuê nhà)
The cost for renewing a tenancy agreement is typically limited to any legal fees if a lawyer is engaged to draft or review the new contract, or notarization fees if the document is notarized. There is no standard government fee for the renewal itself.
What commonly goes wrong
- Ensure all new terms, especially rent and lease duration, are clearly specified and mutually agreed upon to avoid future disputes.
- Verify the identity and legal capacity of all parties involved in signing the new agreement.
- Consider having the new agreement or addendum reviewed by a legal professional, particularly for commercial leases or agreements involving significant value.
- Clarify any changes in responsibilities for maintenance, utilities, or other obligations to prevent misunderstandings during the new lease term.
Sources
- Law on Housing No. 65/2014/QH13 (English Translation) globalpropertyguide.com
- Civil Code 2015 thuvienphapluat.vn
Other documents in Vietnam
Tenancy or lease renewal in other countries
Often renewed together
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