How to Make Rent Agreement In India

Rent is a good and better means of income in today's time. Today, where the owner of a property like a house can increase his income by renting his vacant property, on the other hand, rented houses are a boon for those who are unable to make their home due to lack of money. But the most important thing when renting or giving such a property on rent is a rent agreement.

A rent agreement is one that is prepared by the agreement of the tenant and the landlord before renting to any property. In this rent agreement, all the terms and conditions of the landlord are in writing, which are signed only after the consent of the landlord and tenant. Rent agreement proves beneficial for future. If any change is proposed to be proposed by the landlord or tenant, then notice is given 30 days in advance.

In the rent agreement, it is necessary to keep many such things in mind, which are necessary for both the landlord and the tenant. Those things are as follows:

1- Rent agreement is always made on stamp paper. On this, both the landlord and the tenant are required to sign.

2- In the rent agreement, the name of the tenant and the landlord should be written clearly. Also, the full address of the place to be rented should also be given.

3- The rent agreement requires the correct information of the rent, along with the date of the time period for which the rent should be given and the day from which the late fee will be levied, it should also be clearly written.

4. To be deposited by the tenant in the rent agreement

5- How long the date and day the property is being rented, it is also very important to be written.

6- What facilities are being provided by the landlord should also be known in the rent agreement and any other material along with the property, such as fan, geyser, light fitting etc. should also be written.

7- A month's notice is required before the tenant leaves the house or the landlord rescues the house.

8- Talk to any lawyer to get a landlord rent agreement.

9 - The names of all married and unmarried members above the age of 18 years who live and use in the house of the Rant are written in the Rant Agreement, from which everyone is responsible for the maintenance of the property and the rent amount. Can also be taken from any one.

10- The landlord can inquire about the tenant, so that he can know the antisocial activities and criminal background related to him.

What documents are required for rental agreement? 1.Original ownership documents (sale deed / conveyance deed etc). 2.Original Aadhar Card of Lessor. 3.Original picture ID of Lessor ( Driving Licence / Passport).

What should be the value of stamp paper for rent agreement?: The renting should be for either residential or commercial purpose. There should be a written agreement between the owner and tenant. The agreement should be printed on a Stamp paper of minimum value of Rs.100 or 200/-. Stamp duty is 1% of the total rent plus deposit paid annually or Rs. 500/- whichever is lower.

Is it mandatory to register a lease deed?: In the event of an unregistered lease deed / rent agreement that requires mandatory registration, the courts have termed the tenancy to be a month tenancy, terminable on a 15 days notice, by either of the parties. This means that lessee cannot enforce the agreed lease period on the lessor.

Is a notarized document a legal document?: A document that two or more people sign and notarize is legally binding and is one form of agreement that can be upheld in a court of law. In fact, any agreement between two parties can be enforced legally, whether the contract made was verbal or written.

Why rent agreement is only for 11 months?: Everybody is aware about the rental agreement made for 11 months. The main reason behind the 11 month agreement is to skip the registration process. According to the clause (d) sub section (1) of the Registration Act, 1908, registration of the property that is on lease for a year or more is compulsory.

Is it compulsory to get rent agreement registered?: The section 17 of Registration Act provises leases of immovable property from year to year, or for any term exceeding one year, or reserving a yearly rent; months requires compulsory Registration. However a lease agreement of 11 months does not require compulsory Registration.