Why Rent Agreement Is Required

A rental agreement includes the conditions under which the property is granted for rent. The contract contains the name of the tenant as well as the name and address of the owner of the property indicated for rent. A common mistake we usually make is not reading the contract before signing. Get a copy of the lease and make sure you pass everything in front of signing it. The lease agreement is also known as a lease agreement and is a written contract between the owner of a property (the owner) and the tenant who accepts it as a rental. The agreement defines the conditions on which the property is leased, for example.B.: description of the property (address, type and size), monthly rent, deposit, purpose for which the property can be used (residential or commercial building), and duration of the contract. Its terms and conditions can be negotiated, but once signed, it is mandatory for both the lessor and the tenant. It also sets out the conditions under which the agreement can be terminated. The rental contract could also include additional monthly fees, such as the association`s living expenses, the electricity bill, the water bill that must be paid by the tenant.

The rental agreement may also include facilities such as parking in the accommodation. These additional fees should be clearly mentioned in the rental agreement with the person who must pay them. Most of you must have lived in a rented home while training or working. While some may have put a property on rent. In both cases, you must have signed a lease. Have you ever wondered why most of these leases are only valid for 11 months? Most of the time, neither the landlord nor the tenants and the real estate agents know the reason. If you want to know why, keep reading this blog. Many people doubt whether an 11-month lease is valid or not. There is no doubt that your document is legal and valid. It is also accepted in the eyes of the law and can therefore be used as evidence.

The majority of leases in India are developed for an 11-month period to avoid the wrath of registration by both parties. „Despite the absence of registration, an 11-month lease is valid and allowed in court in the event of a dispute between the tenant and the landlord. It is precisely for this reason that most lease agreements are concluded in this way and are regularly reviewed or not, as both parties consider appropriate,“ says Brajesh Mishra, a Gurugram-based lawyer specializing in real estate law. A tenancy agreement includes the amount of rent paid and the rent for which the lease is concluded. The duration of a lease is usually 11 months. Similarly, the conditions under which the agreement can be renewed after the expiry of the agreement should be clearly mentioned from the outset. If the lease is more than one year old, it is mandatory for the landlord to register the lease by paying the necessary stamp duty. In Anthony v. KC Ittoop and Sons, the Supreme Court ordered that a lessor not be able to dismiss a tenant for at least five years if the tenant paid the rent on a regular basis in accordance with the agreement between the two parties.

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