The Rent Agreement is a very important document which gives a lot of liberties to both the parties owner’s property is secured and the tenant gets to have an address proof.
The tenant and a landlord must put the details of their verbal agreement in writing and have the document registered to give it legal validity in order to formalize the house rental process.
Additionally, if the rent agreement is not signed and properly recorded, neither the tenant nor the landlord will be able to seek redress from any legal authority in the event of any subsequent issues between the two parties. The leasing agreement must contain strong clauses and measures that safeguard the rights of both parties.
To know “How to make rent agreement online“, you can go through our detailed guide on making rent agreement online.
IMPORTANT CLAUSES BEFORE DRAFTING THE RENTAL AGREEMENT
- The agreement should include specific details regarding your tenure of stay (tenancy period),
- The frequency and date of rent payments
- The time of your lease renewal,
- And the provisions for repairs and maintenance.
- Security deposit is the amount paid as the booking money or security deposit and as the advance should be stated in the rental agreement properly. The rent agreement should expressly state the sum and the deadline by which it shall be returned to the renter.
- It’s also crucial to include in the rental agreement the costs associated with maintenance, electricity, water, and other services, as well as any separate utility connections, the basis on which the tenant is responsible for paying the connection fee, and whether a set monthly payment is required.
- Check any Lock-in Period the locking period prescribes the time period within which any of the parties cannot terminate the contract before the sending of the lock-in period, if the party does so then he has to pay the rent for the remaining lock-in period.
- Check the previous House Bills, if any pending then convey this to the Landlord on immediate basis.
- Any clause related to Rent Increment which the Landlord should clarify and the Tenant too should ask before signing the Agreement.
- The Model Tenancy Law gives landlords the authority to ask the rent court to evict tenants who don’t pay the rent for two consecutive months and/or as mentioned under the Rental Agreement.
Why are Rent Agreements usually 11 months?
Landlords usually avoid making the Rent Agreement of 12 months as after that the Rental Control Act is applied which requires Registration of documents and comes with Hefty charges.
Be sure to keep a notice of the clause before signing the tenancy agreement as the agreement can have some missing terms and conditions which will become a problem for both the parties because the rental agreement that the two parties signed will be referenced in order to resolve any disputes that may arise between them and to avoid such mistakes get your Rental Agreement made here.