If you are planning to rent a house, you must know about the house rental agreement. The agreement says how long the renter can stay, how much money they have to pay for rent. It’s like a rulebook that both the renter and the owner agree to follow.
A rental agreement contains basic details of the property owner, tenant, term/ duration of the rental period, and the amount of the rent for the said term.
What is a Rental Agreement?
A lease agreement sets clear terms for a rental arrangement between a landlord and tenant. The format requires parties to include full names, addresses, and contact information, and to clearly state the rent, security deposit, and lease duration. The rent agreement should be protect the both the parties and the document should serve as a collaborative evidence in case of a dispute.
Why is a Lease Agreement necessary?
Spoken promises are difficult to prove and put you in a “your word against the tenant’s” situation. Now that you know why you need a written agreement, let’s learn how to make one.
What Does A Valid Rent Agreement Should Cover?
- Rent and Deposit
- Maintenance, Electricity and Water Charges
- Damages, Repairs and Alterations
- Tenant’s Responsibilities
- Owner’s Responsibilities
- Lease Termination & Extension
- Miscellaneous Clauses
Rental AgreemenLease Agreements By Typet Sample
Rent Agreement
A residence located in a multi-family building/structure. Unless the apartment is located on the first (1st) floor, there are no requirements for the tenant to maintain the premises. It is governed by the State’s Rent Control Laws.
Lease Agreement
The rental of a single-family dwelling that is not part of a larger project. Standard formats include party details (names, addresses, contacts), property description (address, type, furnishings), lease term (start/end dates, often 11 months).
Commercial Lease Agreement
Commercial leases are for renting spaces like offices, shops, and factories. They have more detailed terms and conditions to make sure everything is covered legally. In India, these leases have to be registered because they last longer than 11 month.
Documents Required for Registration of Rental Agreement
The general documents that must be submitted by the landlord, tenant and witnesses for registration of the rental agreement are as follows:
- Proof or evidence of ownership of the rented property
- Property documents such as tax receipt of the property to be rented out
- Passport-sized photographs of each of the parties and the witnesses
- Address proof of both parties and witnesses
- Route map of the property to be rented out, if required
- Any other document specified by the Sub-Registrar’s office
A rental agreement protects the interests of both landlord and tenant. It offers protection against disputes over rent, usage, or maintenance of the property.
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