Lease of Real Property, Buildings, Equipment and other Personal Property

E.1  Lease of buildings/spaces, equipment and other personal property with UP Manila as lessee is covered by RA 9184 Section 53.1011, while existing University Rules on Lease shall be observed in cases where UP Manila as lessor.

E.1.1   The Chancellor is authorized to approve and sign contracts of lease, with the University as lessee, of equipment or any other personal property where the monthly rental does not exceed One Hundred Thousand Pesos (P100,000.00); provided, that no lease shall last for more than two (2) years; provided, further, that any such lease shall be reported to the President.

E.1.2   The Chancellor is authorized to approve and sign contracts of lease, with the University as lessee, of real property where the monthly rental does not exceed Twenty Five Thousand Pesos (P25,000.00) and the lease is for a period of not more than two (2) years, subject to reporting to the President and confirmation by the Board within thirty (30) days from the signing thereof.

E.1.3   The Chancellor is authorized to approve and sign contracts of lease, with the University as lessee, of buildings, room and similar facilities, for a period not exceeding one (1) year and the monthly rental does not exceed Fifty Thousand Pesos (P50,000.00).