The rental agreement is the agreement, in which one party (“the owner/landlord”) agrees to provide the enjoyment of an item of property, such as real estate property to another party (“the renter/tenant/hirer”) for a fixed price and period of time. The general conditions with respect to the rental agreement are codified in the Suriname Civil Code. More specific legislation with respect to rental agreements is codified in the Suriname Civil Code [article 1571 et seq. article 1612], the Tenant Protection Act and the Rental Value Tax Act.
On the basis of the rental agreement the owner is obligated (i) to deliver the property, (ii) maintain the property in the manner that ensures that the property can serve the purpose of the property as stipulated in the rental agreement and (iii) to provide the enjoyment of the property for the duration stipulated in the rental agreement. In return, the renter is obligated (i) to maintain the property with due care and to use the property in accordance with the rental agreement, and (ii) to meet the financial requirements on the set dates, in particular payment of the rental price. The Surinamese legal system itself does not regulate/codify lease as in the Common Law systems, although parties may choose for lease contracts based on foreign law.