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Rental Agreement

Rental Agreement

A well-drafted rent agreement is important to protect your rights as a tenant or a landlord. Get it drafted right away using our ready-to-customize agreement template. What’s more? Our service partner will also get your agreement stamped and delivered to your doorstep.

In order to make a rent agreement and get it registered, you need to have a copy of the address proof of both tenant and owner along with the witnesses. You may show any of these proofs listed here: Bank Passbook, Aadhar Card, Passport, Ration Card and Driving License as address proof.

There are mainly two types of rent agreements available in India: 1. Lease Agreement: A lease agreement is an agreement that gives the tenant an exclusive possession of the property for a pre-defined time period. This type of agreement also gives the power to the tenant to make changes to the property unless specified. 2. Leave and License Agreement: Under this type of agreement, the possession of the property and the legal ownership remains with the licensor. In other words, with this type of agreement, a tenant doesn’t have much control over the property.

As stated in the Registration Act, 1908 it is mandatory to register a rental or lease agreement which is made for the period of 12 months or more.Ideally, for a registered agreement, the cost of registration for rent agreement is borne by both the parties in equal halves. In order to save on the stamp duty and registration charges, some owners make the agreement for the tenure of 11 months. However, it remains valid in the eye of law and can be presented in the court as an evidence.

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