Pre-Lease Promise Agreement Chile (Promesa de Arrendamiento)

Pre-Lease Promise Agreement Chile (Promesa de Arrendamiento) is a bilateral, preparatory contract governed by Código Civil de Chile (CC) Article 1554, by which a promitente arrendador (prospective landlord) and a promitente arrendatario (prospective tenant) solemnly commit to execute a definitive lease contract (contrato de arrendamiento) on the terms and conditions stipulated in the promise itself. Article 1554 of the Código Civil establishes four cumulative requirements for a valid promise contract in Chile: the promise must be in writing (constar por escrito); the contract being promised must not be prohibited by law; the promise must contain a specific term or condition (plazo o condición) fixing the epoch at which the principal contract will be concluded; and the promise must specify the principal contract with sufficient precision that only acts of execution (actos de ejecución) will be required to give it full effect.

Under CC Article 1554 N°4, the Promesa de Arrendamiento must identify the immovable property (bien raíz) with sufficient cadastral detail — commune (comuna), street address, and Rol de Avalúo Tributario (SII property tax roll number) — together with the agreed monthly rental (canon de arrendamiento), the currency (Chilean pesos or UF — Unidad de Fomento indexed to CPI by the Banco Central de Chile), the rental period, and all essential terms of the future lease. The Superintendencia de Notariado y Conservaduría (SNC), which oversees Chile's 650+ Notarías Públicas, requires promises over real property to be executed as escritura pública (public deed) or, at minimum, as instrumento privado con firmas autorizadas (private instrument with notarially authenticated signatures) to have evidentiary force against third parties.

The Ley 18.101 de 1982 (Ley de Arrendamiento de Predios Urbanos), as amended by Ley 19.866 of 2003, governs residential urban leases and sets mandatory rules that apply to the definitive contract being promised. Any Promesa de Arrendamiento for a dwelling subject to Ley 18.101 must respect the prohibition on advance rent exceeding one month, the 30-day minimum notice period for termination, and the mandatory restitution of the garantía (security deposit) within 30 days of restitution of the property. Parties frequently include an arras (earnest money) clause whereby the promitente arrendatario delivers a sum equivalent to one or two months' rent as guarantee of the obligation to execute the definitive lease; under CC Article 1803 and 1805, arras may be configured as penitencia (allowing withdrawal upon forfeiture) or confirmatorias (constituting partial payment).

A cláusula penal (penalty clause) under CC Articles 1535–1544 is standard in Chilean promesas de arrendamiento, specifying a monetary penalty if either party fails to execute the definitive lease on the agreed date. The Juzgados de Letras en lo Civil, under the rules of the Código de Procedimiento Civil (CPC), have jurisdiction to enforce the promise through the acción de cumplimiento forzado (compulsory performance action) or to award indemnización de perjuicios (damages). The Corte de Apelaciones and Corte Suprema have confirmed that Article 1554 promises are independently enforceable contracts, not merely unilateral offers (see SCS Rol N°5.872-2019).

Commercial property promises — for oficinas, locales comerciales, bodegas, or industrial premises — fall outside Ley 18.101 and are governed entirely by CC general contract rules and Ley 19.799 on electronic documents for digital signatures. The promitente arrendador must ensure the property is free of encumbrances (hipotecas, servidumbres, prohibiciones) that would prevent delivery in the condition stipulated, verifiable through a Certificado de Gravámenes issued by the Conservador de Bienes Raíces (CBR) of the corresponding commune.

The promesa de arrendamiento also plays a critical role in Chile's secondary rental market, particularly in Santiago's comunas of Providencia, Las Condes, Vitacura, and Nunoa, where high-demand rental properties are committed months in advance. Developers of mixed-use projects (proyectos de uso mixto) authorised by the Direccion de Obras Municipales under Decreto Supremo N.61/2012 frequently use promesas to secure anchor tenants for commercial floors while residential floors remain under construction. Under CC Article 1545, a validly executed promesa constitutes law for the contracting parties (la ley del contrato) and may only be rescinded by mutual consent or by causes legally recognised. The promitente arrendatario acquires a personal right (derecho personal) enforceable against the promitente arrendador and may seek specific performance (cumplimiento forzado) under CC Article 1553, which explicitly authorises the court to compel execution of the promised act, fix a daily penalty for each day of delay, or award full damages. The Corte de Apelaciones de Santiago has consistently upheld Promesas de Arrendamiento as independently enforceable instruments under Article 1554, even where minor formal irregularities exist, provided the essential terms are ascertainable from the document itself (CA Santiago Rol N.2.341-2021). The Superintendencia de Notariado y Conservaduria (SNC), operating under the Ministerio de Justicia y Derechos Humanos, issues directives to Notarios Publicos clarifying the minimum content requirements for a valid promesa, particularly the plazo or condicion element under CC Article 1554 N.3. Without a sufficiently precise plazo or condicion, the SNC-supervised Notarios Publicos may decline to authorise the promise, protecting parties from entering a legally void commitment. The Registro Civil e Identificacion provides the RUT and civil status certificates that Notarios Publicos require to verify party identity before executing the promesa.

A Promesa de Arrendamiento is needed in Chile whenever a landlord and tenant agree on the essential terms of a future lease but are not yet ready to execute the definitive contract immediately. The most frequent situations include: a newly constructed residential or commercial property not yet available for occupancy, where the promitente arrendador commits to deliver the unit on a future completion date; a property currently occupied by an existing tenant whose lease expires in two to four months, making immediate delivery impossible; a corporate tenant requiring board approval, SII RUT registration, or finalization of a trade permit (patente municipal) from the Municipalidad before signing the operative lease; and a foreign individual or company awaiting a residency permit (permiso de residencia) from the Departamento de Extranjería y Migración.

Promesas are also used when parties negotiate a rent-free period, fit-out contribution (aporte de habilitación), or phased rent schedule that requires careful drafting before the definitive lease is executed. Investors acquiring a property through a compraventa and simultaneously negotiating a lease-back with the seller use a Promesa de Arrendamiento to secure the lease terms while the compraventa is being inscribed in the Conservador de Bienes Raíces. Real estate developers (inmobiliarias) offering units pre-delivery routinely use promesas to lock in tenants for new apartment buildings (edificios de departamentos) approved by the Dirección de Obras Municipales (DOM) under the Ley General de Urbanismo y Construcciones (LGUC).

In the commercial sector, franchisees and retail chains entering new markets in Chile require board and brand-approval timelines that make the Promesa the appropriate instrument to secure premises while internal processes are completed. The arras mechanism within the promesa provides both parties with skin-in-the-game during the gap period, deterring opportunistic renegotiation by either the promitente arrendador (who might receive a higher offer) or the promitente arrendatario (who might find cheaper premises). Forms-legal.com provides a fully customizable template that complies with CC Article 1554 and Ley 18.101 requirements.

Another important scenario involves the residential rental market in Chilean university cities including Santiago, Valparaiso, Concepcion, Temuco, and La Serena, where students and academic staff secure housing for the academic year beginning in March, often committing in November or December of the prior year. The Promesa de Arrendamiento provides the legal framework for this advance commitment, protecting both the promitente arrendador (who can plan renovation works) and the promitente arrendatario (who secures preferred accommodation). Property management companies (administradoras de propiedades) operating in Santiago's rental market routinely use standardised Promesas de Arrendamiento aligned with Ley 18.101 requirements. The Servicio de Impuestos Internos (SII) classifies rental income under the segunda categoria of the Ley de Impuesto a la Renta, and both arrendador and arrendatario benefit from having a written promesa as documentary evidence for income declaration purposes. Legal entities operating in Chile under the Ley 21.210 tax modernisation framework must document advance rental commitments as Promesas de Arrendamiento to correctly classify the associated liabilities in their financial statements under IFRS 16 (International Financial Reporting Standards on leases), adopted in Chile through the Comision para el Mercado Financiero accounting norms for publicly listed entities. Additionally, foreign investors acquiring Chilean real estate for rental purposes through a sociedad por acciones (SpA) or sociedad anonima (SA) registered with the SII must document all pre-lease commitments as Promesas de Arrendamiento to comply with the transfer pricing and related party transaction disclosure rules under LIR Article 41 E.

A properly drafted Promesa de Arrendamiento for Chile under CC Article 1554 must contain the following key elements to be legally enforceable and compliant with Ley 18.101:

**1. Identification of the Parties.** Full legal name, RUT (Rol Único Tributario — SII tax identification number), nationality, civil status (estado civil), and domicile of both the promitente arrendador and the promitente arrendatario. For legal entities, the RUT, corporate name (razón social), and representation authority (poder de representación) must be stated. The notario público will verify identity against the Registro Civil e Identificación.

**2. Property Description.** Complete identification of the inmueble: street address, number, apartment or office number, commune (comuna), región, SII Rol de Avalúo, total area in square metres (metros cuadrados útiles), and a description of any parking spaces (estacionamientos) or storage units (bodegas) included. For commercial premises, the specific use permitted under the patente municipal should be noted.

**3. Term or Condition (Plazo o Condición).** As required by CC Article 1554 N°3, the promesa must specify the date or condition on which the definitive lease will be executed — for example, "within five business days of the delivery certificate (acta de entrega) issued by the Dirección de Obras Municipales" or "on [date], provided the current tenant has vacated."

**4. Essential Terms of the Future Lease (Especificación del Contrato Prometido).** CC Article 1554 N°4 demands that all essential elements of the definitive lease be fixed: monthly rent (canon de arrendamiento) in pesos or UF; adjustment formula (reajustabilidad) — typically CPI (IPC) per the Instituto Nacional de Estadísticas (INE) or UF variation; lease term (plazo); renewal conditions; garantía amount and restitution rules under Ley 18.101 Article 46; and permitted use of the property.

**5. Arras (Earnest Money).** Amount, form of payment (transferencia bancaria, cheque certificado), and whether the arras are penitenciales or confirmatorias under CC Articles 1803–1805. The promitente arrendatario typically pays arras of one to two months' canon upon signing the promesa.

**6. Cláusula Penal.** Specific monetary penalty under CC Articles 1535–1544 payable by the party that fails to execute the definitive lease on the agreed date. Chilean courts (Juzgados de Letras en lo Civil) routinely enforce these clauses; the Corte Suprema has held that penalty clauses do not require proof of actual damages (SCS Rol N°7.341-2018).

**7. State of the Property and Delivery Conditions.** Description of the condition in which the property will be delivered (estado de conservación), inventory of fixtures and fittings (inventario de enseres), and any obligations to carry out repairs or fit-out works (obras de habilitación) prior to delivery.

**8. Notarial Execution.** Signature before a Notario Público of the corresponding commune, with firma autorizada (authenticated signature) at minimum, or escritura pública for greater security. The Superintendencia de Notariado y Conservaduría (SNC) maintains the registry of all active notarías in Chile.

**9. Encumbrance-Free Guarantee.** A clause requiring the promitente arrendador to deliver a Certificado de Gravámenes y Prohibiciones (CBR) showing the property is free of liens, attachments (embargos), or usufruct rights that would prevent quiet enjoyment.

**10. Governing Law and Jurisdiction.** Explicit submission to Chilean law, Ley 18.101, and the jurisdiction of the Juzgados de Letras en lo Civil of the corresponding commune for dispute resolution.

Forms-legal.com provides a complete, customizable Promesa de Arrendamiento template that includes all elements required by CC Article 1554, Ley 18.101, and Chilean notarial practice, ensuring parties can proceed to the definitive lease with full legal certainty.

**11. Dispute Resolution and Applicable Law.** Chilean promesas de arrendamiento should specify whether disputes will be resolved by the Juzgados de Letras en lo Civil, by an arbitro arbitrador (equitable arbitrator), or by an arbitro de derecho (legal arbitrator) under the Ley de Arbitraje Comercial Internacional (Ley 19.971) if international parties are involved. The Corporacion de Arbitraje y Mediacion de Chile (CAM Santiago) provides institutional arbitration services and is frequently chosen for high-value commercial lease promises. Under CPC Articles 222-243, parties may submit disputes to arbitration in the promesa itself (clausula compromisoria).

**12. Anti-Money Laundering Compliance.** For promesas involving rental values above UF 500 per month or properties in high-value comunas, the parties should ensure compliance with Ley 19.913 (Unidad de Analisis Financiero - UAF) anti-money laundering obligations applicable to real estate operations, and the Notario Publico obligations to report suspicious transactions under the SNC and UAF joint circular.

**13. Electronic Execution.** Under Ley 19.799 on electronic documents and digital signatures, a Promesa de Arrendamiento may be executed electronically with advanced electronic signatures (firma electronica avanzada) certified by an accredited provider registered with the Ministerio de Economia, Fomento y Turismo. The SNC has issued guidance on notarial electronic execution that allows Notarios Publicos to authenticate digital signatures, granting them the same legal effect as physically signed private instruments with notarially authorised signatures. The Conservador de Bienes Raices processes the prohibition inscription within two to five business days and issues a Certificado de Inscripcion confirming the Foja, Numero, and Anno of the registered prohibition, which the promitente arrendatario should retain as evidence of protection against third-party purchasers throughout the promise period. The Ministerio de Justicia y Derechos Humanos sets the CBR arancel for prohibition inscriptions, which is a minor cost relative to the protection obtained. Los usuarios de forms-legal.com pueden descargar este documento de forma gratuita en formato PDF o DOCX, completar los campos del formulario guiado y obtener un documento listo para firma.