How to Draft a Lease Agreement in Colombia

A well-drafted lease agreement protects both the landlord and the tenant. These are the key elements.

Essential Elements

1. Identification of the parties

• Full names and ID documents
• Address of the parties

2. Property description

• Full address
• Real estate registration number
• Area and boundaries

3. Lease term

• Start and end date
• The minimum legal term is 1 year (Law 820 of 2003)

4. Rent amount

• Monthly value in Colombian pesos
• Payment date (day of the month)
• Payment method

5. Annual increases

• Cannot exceed the previous year's CPI
• The calculation formula must be specified

Protective Clauses

For the landlord:

• Guarantee (surety or deposit)
• No subletting without authorization
• Liability for damages

For the tenant:

• Right to quiet enjoyment
• Landlord's obligation to make repairs
• Notice period for eviction

Need help with your contract?

At AJIN we review and draft lease agreements to protect your interests. Contact us.