Renting has developed into the finest alternative in a world where purchasing real estate is no longer an option unless you have saved for more than your lifetime. For those trying to rent their properties, those considering renting a property, and of course those seeking a means of habitation in a large metropolis, a rental agreement is essential. Now, what exactly is a rent agreement?
What is a rent agreement?
A rent agreement is a legal document that a landlord and tenant sign to start and control a tenancy. The terms and circumstances of the tenancy as well as every aspect of the two parties, the landlord and the renter, are included in the rent agreements. The rules outlined in the rental agreement must be adhered to by both parties. The tenant is required to sign a rent agreement when engaging into a renting arrangement with a landlord in accordance with the proposed Model Tenancy Act of the union government (all states must base their draught rental legislation on this Act). The terms and conditions that will be binding on both parties must be included in the rental agreement.
What Does A Valid Rent Agreement Should Cover?
The following are key details that should be included in a rental agreement:
- Deposit and Rent
- Charges for maintenance, electricity, and water
- Damages, fixes, and modifications
- Tenant’s Obligations
- Responsibilities of the owner
- Termination & Extension of Lease
- Optional Clauses
11-month rent agreement
In India, the majority of rental agreements are made for an 11-month span in order to avoid the burden of registration on the parts of both parties. “An 11-month lease is legally binding and admissible in court in the event of a tenant-landlord dispute, notwithstanding the lack of registration. In fact, this is the main reason why rental agreements are typically written in this way and then periodically modified or not as both parties see fit.
Is an online rent agreement valid?
Yes. If the following criteria are met, an online lease is legitimate and lawful.
- Both the tenant and the landlord have agreed to the agreement’s draught.
- Both parties have digitally signed it, or it has been printed and signed.
- It has an e-stamp at the start or is printed on stamp paper with the necessary value.
While an online lease is valid, it must be registered with the relevant Sub-Registrar of Assurances office in order to be backed by law. For instance, even if a rent agreement is unregistered and its duration is less than 11 months, the court may not accept it as evidence in the event of a disagreement.
Can a landlord evict a tenant?
If a landlord wishes to evict a tenant, he must have a good reason. The Rent Control Act and Indian law violations, such as terrorism or crimes against the state, may be to blame.
Registered Rent Agreement
This is a signed rental agreement that has been registered with the government’s registrar’s office after being scanned by both parties. This procedure is carried out and completed by the Sub Registrar’s office for the relevant area. The paper must be executed in the presence of both the landlord and the tenant. The agreement subsequently becomes available for viewing during any legal proceedings as a public document.
Notarized Agreement
A public notary public has testified to this contract. The notary’s sole duty is to confirm the legitimacy of the Licensor and Licensee who are signing the contract. Later, she or he stamps the document with the words “Signed Before Me.” Nothing else in the contract is examined by the notary. The notary’s stamp, seal, and signature appear on the rental agreement’s final page when it has been notarized.
How to create a rental agreement online?
Now you can create your rental agreement online with FlatMate.in. FlatMate.in provides pre-written, usable rental agreements that have been reviewed by lawyers. Simply enter your information, and we’ll take care of the rest.
Click the link and get your rental agreement delivered to your door:
https://www.flatmate.in/rent-agreement
There are several other platforms also that offers the service of creating rental agreement online.
