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Have you ever thought that Why we make Rental Agreement for 11 months?
Why Tenant gets to occupy the property for 11 months?
Today in our this Blog we will discuss the reason about it.
Before proceeding Let’s have a quick Introduction of What is Rental Agreement-
Rental Agreement is an agreement between Owner and Tenant in which they mutually agrees for the Rental of the property and other terms and conditions. Terms and Conditions can be like Clause for Water and Electricity and many more.
Ok let’s go in a depth of the topic of our Blog that is Why we make Rental Agreement for 11 months?
Rental Agreement for 11 months is made to avoid the Strict Rental Law which apply for the Lease upto 12 months that is why the One Month in the count of 12 months is consider as the month of Notice Period Serving by the Owner and after the expiration they also gets the option to renew the Rental Agreement by making the new Rental Agreement and by giving the Stamp Duty again for the Instrument to the Government.
While making the Rental Agreement for 11 months both Owner as well as Tenant enjoy the benefits like-
- Tenant can opt for leaving the Rented property anytime before the termination of the Agreement.
- Owner revise the Rent for the Rental Property by 10% periodically after the completion of duration of 11 months at the time of Renewal of Rental Agreement.
“So it is beneficial for both the parties in different aspects”
Also its not important to enter to the Rented property for 11 months, its the complete choice of Owner and Tenant and can mutually act as a decision maker keeping in mind about their losses and benefits that for how much period the premises will be on lease.
And yes, the Tenant can also set the Rules and regulations while furnishing the Rental Agreement, So it is always recommended to furnish the Rental Agreement wisely.
Get Rental Agreement Online
We provide the fully drafted rental agreement including the important terms and also customer can freely ask us to modify the terms. We provide service at the doorstep in which simply what you have to do is Provide us your details by filling up the form(designed securely to capture your data),place the order and we will quickly draft your Rental Agreement along with prescribed e-stamp paper and deliver it to you at your choice of delivery address.
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