A rent agreement protects the interests of both the landlord and the tenant. It is a legal Documents which is prepared by the landlord in the name of 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 with a longer term need to be registered.
Fosters Good Relations a comprehensive agreement, protecting the rights of both landlord and tenant, is essential to a good business relationship between the two parties.
Why its need?
Legal Protection When a deal involves such a large asset, you need a document in place that offers legal protection in case any action of the opposing party contradicts its terms.
Is rental agreement necessary?
A rental agreement can be written, verbal or implied since the rental agreement is the most important part of a landlord and tenant agree to the terms and conditions of their contract it cannot be changed unless both parties agree.
Drafting of Agreement.
Payment of stamp duty.
Print the agreement on stamp paper.
Signing the agreement by tenant and Landlord in the presence of two witnesses.
Registered with sub-Registrar office by paying the appropriate registration fees.