All you need to know about rent agreements

We look at the process of drafting and flat for rent in Kharghar registering an ideal rent agreement online or offline

Because homeownership can be inconvenient or inexpensive at times, Flats on rent in Kharghar a majority of the migrant working population in India’s major cities live in rented homes. The occupant signs a tenancy agreement with the landlord for this, which contains the terms and conditions that will be binding on both sides.

All you need to know about rent agreements

The government has formulated a draft policy to promote rental housing in India to make the transaction beneficial to both landlords & tenants. The provisions laid down in this model policy should be the guiding principles when a rent agreement is drafted.

Full value of rent contract

It has no legal validity until a lease agreement is registered with the sub-registrar ‘s office. It is in the interests of both parties to draft and register an agreement with specific terms and conditions. Rent a house in Kharghar once the tenant or the landlord sign the documents in the presence of two witnesses, after paying the required fee, they should register it at the sub-registrar ‘s office.

Documents needed for rent agreement registration

 Landlord

  1. Two passport-sized photos.
  2. Aadhaar card.
  3. Identity proof (driving licence, voter card or passport).

Tenant

  1. Two passport-sized photos.
  2. Aadhaar card.
  3. Voter ID card.
  4. Passport for people from outside India.

Details to be included in the tender

Main aspects of a standard rent agreement include:

  1. Tenant and landlord names and addresses.
  2. Tenant and landlord signatures.
  3. Amount leased monthly.
  4. Deposit Security.
  5. Fees for repairs.
  6. Stay Time.
  7. Landlord’s Responsibilities / Rights.
  8. Tenant’s Responsibilities / Rights.

Stamping tariff on rent agreement

When registering the rent agreement, you have to pay a stamp duty which will vary depending on the city where it is registered. 1 bhk flat on rent in Kharghar that money is paid out by purchasing the interest stamp paper you owe the government. In Delhi, the stamp duty is payable at 2 percent of the annual average rent, in the case of lease agreements for a maximum period of five years. In Noida, one has to pay as a stamp duty 2 percent of the annual rent, for rent agreements of up to 11 months.

E-stamping of rent contract

In some states, where the rental agreement e-stamping facility is available, you don’t need to physically purchase the stamp paper. You can log in to the website of Stock Holding Corporation of India Ltd (SHCIL) and check if this facility is offered by the state where you reside. 2 bhk flat for rent in Kharghar actually, Assam, Gujarat, Himachal Pradesh, Karnataka , Maharashtra, Delhi-NCR, Tamil Nadu, Uttarakhand and Uttar Pradesh, allow rent agreements to be stamped on electronically.

rent agreements

Mietvertrag: Important terms and conditions

For Tenants

Security deposit and token amount: When you leave the premises, the agreement must clearly state the security deposit and what happens to it. This should also state the token sum you’ve earned from the landlord.

Number of occupants: If your family members join you in future, the agreement will specify what happens.

Repairs: The agreement must state who will bear the wear and tear related costs.

Maintenance: The agreement will specifically state who will be responsible for paying the monthly maintenance fees.

Visitors: The agreement needs to include a clause about who should meet you and when.

Pet policy: Check if your home owner will allow you to keep your pets, if you are going to adopt one.

For Homeowners

Requirements to vacate your property.

Check-in hours.

Land claims and their effects on tenant.

Subletting Law.

Is registration of a rent agreement mandatory?

Note here that notarized rent agreements are not equivalent to legal records. The court does not accept a notarized document as evidence in the case of a dispute between the landlord and the tenant. Hence, it is important to properly register the rent agreement.

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Disclaimer: The views of this expressed above are for informational purposes only based on the industry reports & related news stories. Navimumbaihouses.com does not guarantee the accuracy of this article, completeness, or reliability of the information & shall not be held responsible for any action taken based on the published information.
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