The rent agreement should include the names and addresses of the landlord and tenant, terms of the tenancy, period of tenancy, rent, and security deposit amount, restrictions on both parties, conditions for termination of the agreement, conditions for renewal, and details of who should bear other charges such as maintenance charges, repairs, etc.
FAQ Category: Rent Agreement
Why is the rental agreement for 11 months?
To avoid registration of the rent agreement to save money because Registration Act 1908 makes it compulsory for a rent agreement to be registered if the property rental period is more than 11 months.
What is a Lease Agreement?
A lease agreement is for a longer duration than a rent agreement. It is an agreement or contract between the landlord and the tenant for more than twelve months.
What is a rent agreement?
A rental agreement is one of the most important legal documents both parties must sign, i.e., the landlord and the tenant, to regulate the tenancy. It contains details about the parties and the terms and conditions of the tenancy of the property.