Rent Agreement along with Model Format

Rent Agreement along with Model Format

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Rent Agreement along with Model Format
Rent Agreement along with Model Format

Rent Agreement

A rent agreement provides tenancy for a short period, which is later renewed after the completion of the period. A Rent Agreement protects the interests of both the landlord and the tenant. All the terms and conditions are mentioned in the agreement according to both the parties. In most of the Indian cities, rental agreement last for only 11 months to protect against rental control laws. Agreement which is having a longer term needs to be registered.

Feature of rent agreement:-

  1. Duly stamped & registered: It is essential that the rental agreement be registered. To register, you will have to pay stamp duty and registration fee. Also a rental agreement should be duly signed by both tenant and landlord, and mention the date. This should be done in the presence of two witnesses.
  2. Name and period of tenancy: Rent agreement must have mentioned the legal names of both the parties that are the landlord and the tenant. The start and end date of the tenancy agreement must be mentioned in the agreement.
  3. Rent: The amount of rent paid per month and the date on which it should be redeemed should be mentioned in the agreement. Conditions related to the increase in rent must be categorically specified.
  4. Payment of utility charges: Rent agreement specifies that the whether the amount of rent includes bills like electricity, water and gas. It is also showed that whether amount of rent includes charges like garbage collection fee, maintenance charges and parking charges etc.
  5. Security deposit: It is mandatory to show how much security deposit has been made by the tenant and how it is going to set off against the damages. In other word, amount of security deposit can be deducted by landlord in equivalent to damages done by the tenant.
  6. Eviction: Those conditions must be specified under the agreement that can lead to eviction. Generally, it may include disturbing neighbors, causing damage to the building, failure in making rent payments.

ADVANTAGE:-

  1. Rights and liabilities of both landlord and tenant are categorically mentioned in the agreement
  2. Save yourself from the unnecessary litigation.
  3. Secures from unpredictable expenses

FAQ

  1. What is a Rent Agreement?

A Rent Agreement is an agreement between the landlord and the tenant whereby the landlord gave the tenant the right to occupy the property for a specific period.

  1. Do rental agreements have to be in writing?

A Rental Agreement can be written, oral or implied. Since the rental agreement is the most important part of a landlord-tenant relationship, it must be in writing. The advantage of having a written agreement is that it outlines the terms and conditions agreed to by the parties. Once the parties have agreed to their terms and conditions in the contract it cannot be changed unless both the parties agree.

  1. Can a rental agreement be for a fixed period of time or it can be on monthly basis?

A Rental Agreement can be either for a fixed period of time or for a month to month period or for week to week period etc. It is wholly depend upon the intention of the parties.

  1. I want to avail this service, what should I do?

Don’t worry, just fill the above mentioned details & contact the professionals of Aapkaconsultant.com and we will guide you with the complete process.

To get your Rent Agreement drafted, kindly contact here

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