Rent Agreement

All you need to know about the Rent Agreement Services

India, being a country with vast population and limited resources, can prove to be an expensive place to live in. For common people, it is much like an impossible task to own a property until and unless they have actually saved for more than their lifetimes.

Why should I prefer renting a property?

The gradual development and thus, expensive properties, has intensified the need for renting services. It is one of the best options available, especially for the people with definite salaries or continuous migration.

Furthermore it is also one of the best sources of income if you decide to rent your own property. Similarly, you may also save a good amount of your income while you live in a rented house in big cities.

What is a rent agreement?

The constant increase in renting services has also levelled up the need for rent agreement in India. It not only reduces the risks of probable frauds during the renting process but also pre-decides the terms related to security deposits, property details and rent along with other necessary terms.

Moreover, a legal contract between the landlord and tenant for a fixed duration of time is called as a rent agreement. It may or may not be renewed every 11 months, depending upon the time period pre-decided in the contract.

The rent agreement consists of numerous important details, including the terms and conditions, security deposits, property details like the size, type and address. It also includes the time duration for which the rent agreement is valid before renewal.

After expiration the rent agreement in India holds no importance and thus its renewal, if needed, is a must.

Why are rent agreement services important?

Even though renting a property is one of the common things in India, these days, it can easily cause a lot of trouble resulting from disagreements and disputes.

The probable friction or disharmo in the landlord-tenant relationship may cause issues that can be smoothly resolved by the rent agreement services. It acts as a safety to both, the landlord and tenant in an endless number of ways.

Important points in a rent agreement in India

Despite the possibility that you might be new to the city or renting a property for the first time, you must be aware of the basic terms and conditions included in rent agreement in India.

It comprises various clauses and other information that both the landlord and tenant have to adhere to, and the violation of which can cause legal discomfort. The following mentioned and explained points are few of those included in a legal rent agreement.

1. The information of the tenants or occupants in the property must be included in the rent agreement. It avoids any possible chance of identity fraud and brings clarity about the individuals occupying the place.
2. The time duration of the occupancy to avoid any forceful stay after the decided time. With this, the owner of the property stays at the safer side while the tenant can also not be forcefully asked to vacate before the decided time duration.
3. The agreement precisely mentions the renting amount or the instalment that is to be paid by the tenant during the stay. Furthermore it lists the possible consequences if the rent is paid at a later time than mentioned in the contract.
4. In case of any maintenance required, the agreement also states the person responsible. Either tenant or the landlord will be liable to pay maintenance costs, if any. It may vary according to the property and decided terms.
5. The rent agreement in India precisely details the terms and conditions relating to the property. It also includes the rules that include the preservation and management of the property during the time of stay.
6. If the tenant stays for a longer period of time than decided in the rent agreement, it must be renewed and re-signed by both the parties. However, the date of renewal of the contract is precisely mentioned in the agreement itself.
7. The services provided to the tenant are explained in the contact along with their existing conditions and repairs, if any.
8. In case the tenant wishes to vacate the property prior to the time decided, he/she must do it according to the ‘exit clause’ mentioned in the agreement. The conditions relating to the exit of the tenant must be followed in the right manner.
9. Finally, both the landlord and tenant need to sign the rent agreement stating that both the parties agree to the terms and conditions written in the contract. However, the violation of any, may cause the unwanted legal consequences.

Free legal advice on property matters in India

All of this becomes a time-consuming process when done in the offline mode. However, you may save the time of travelling and your overall efforts by executing the process in the online mode.

Presently, the rent agreement in India has grown convenient and hassle free due to the online rent agreement services. You may easily connect with a lawyer for free legal advice in Delhi about the necessary details that you require before signing the agreement. You may also look for the ‘best property legal advisor near me’ service for better convenience.

Registration for rent agreement

In case the rent agreement is drafted for a period of 12 months or more, it must be registered legally. For the same you may visit the registrar office of the city and pay the registration fee according to the requirement.

Furthermore, the stamp duty cost differs according to the duration of renting.