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Rent Deed Drafting

A rental agreement is a legal document that lays down the prescribed terms and conditions under which a rental property is leased to be followed between the landlord and the tenant.

Although the relationship between landlord and tenant is usually amicable, it is best to have a written tenancy agreement in case the relationship turns sour or is full of complaints and misunderstandings. Rental housing has become huge in a developing country like India.

So, after the Union Cabinet approved the Model Tenancy Act, of 2019, several states in India are currently busy drafting the details of future aligned tenancy policies to boost this housing segment in the country.

According to the central government's draft model tenancy law (all states should base their draft tenancy laws on this law), a tenant must sign a tenancy agreement with the landlord when arranging a tenancy. A rental agreement must contain terms and conditions that are binding on both parties.

Execution of Rental Deed

This rent agreement or lease deed format can be used by a lessor or lessee of a residential property. Signed by the lessor and lessee to indicate agreement to the terms set by the lessor. It is a legal document that has the force of law that can be referred to by the courts in case of disputes.

The rental agreement must be printed on non-judicial stamp paper of the value of 100/- or above. A rental agreement is usually signed between the landlord and tenant upon payment of a deposit for the rental property. Two copies of the document are usually executed, each party retaining one of the originals.

Contents of a Rental Agreement

An ordinary rental agreement contains the following points;

  • Names of tenants, landlords, and their representatives
  • Details about the property
  • Rent amounts, payment deadlines, grace periods, and late fees are all listed
  • Mode of payment of rent
  • Procedures for termination before the expiration date of the Agreement as well as any applicable fees
  • Security deposit amount and account information
  • Utilities provided by the landlord and how the rent will be calculated if the landlord charges for these utilities
  • On-site amenities that the tenant is permitted to use, such as pools and security measures
  • Rules and guidelines such as animals, noise, and the consequences of breaking them
  • Identification of available parking spaces, including any designated spaces, if any, and
  • Tips for handling tenant repair concerns, including those that require immediate attention.

Terms are usually Included in the Rental Agreement

Duration : The period during which the lease is in force. Rent is a payment made by the tenant to the landlord in exchange for the use of the leased property.

Deposits : The amount of any required deposits, the nature of each deposit, and the terms governing its return or change during the rental period.

Condition of Use : The intended use of the property as well as governing the use of its rules and regulations.

Utilities : What the tenant pays and what is included in the rent.

Insurance : This refers to whether the tenant is responsible for property insurance; It is used in business rental agreements.

Repairs and Maintenance : The landlord or tenant is responsible for maintenance and repairs


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Understanding Security Deposits

In India, the tenant also pays a security deposit or advance to the landlord, which must be returned upon termination of the lease. Generally, it ranges from 2 or 3 months to 10 months of rent.

A contract is signed with a security deposit. A portion of the security deposit may be used by the landlord to cover damage to the property by the tenant, including electrical systems, furnishings, and appliances.

At the moment of termination of the contract, the landlord must restore the remaining security deposit to the tenant after deducting the damage amount.

Execution of Valid Rental Agreement

The Registration Act, of 1908 states that a tenancy agreement must be registered in India if it is for more than 12 months. If the term of the rental arrangement is less than 12 or 11 months, there is no need to register the agreement.

In this case, drawing and signing the agreement on stamp paper will be legally valid. If the term of the agreement is less than one year, it must be printed on paper with the stamp of the sub-office registrar of the municipality.

Documents Required for Registration of Rental Agreement

The following documents must be provided by the landlord, tenant, and witnesses to register the tenancy agreement

  • ownership Proof of rental property
  • Property records, such as tax receipts for rental properties
  • Witness and passport-size photograph of each party
  • Witnesses and evidence of both parties like Aadhaar, Passport, etc
  • Route diagram for rental property.

Certain Clauses Found in Rental Agreements

Following are some clauses that are used in the agreement;

Duration : The period during which the lease is in force

Rent : Rent is the payment made to the landlord for the use of the rented property

Deposits : The amount of any required deposits, the nature of each, and the conditions governing returns or changes after the rental period.

Condition of Use : The intended use of the property as well as the governing the use of its rules and regulations.

Utilities : What the tenant pays and what is part of the rent

Insurance : This refers to whether the tenant is responsible for property insurance: This is frequently used in business rental agreements

Repairs and Maintenance : The landlord or tenant is responsible for keeping the property in good condition.

E-Stamping of Rent Agreement

Nowadays electronic stamp rental agreements are accessible in so many states. Parties are not required to purchase a stamp sheet from the Sub-registrar's office to print the agreement when e-stamping is an option.

They can verify their state offers this service by logging into the website of SHCIL. The parties must print the lease agreement on an e-stamp sheet, be present at the sub-office, sign the registrar's signature, and be registered to be legally and legally binding when the term of the lease agreement exceeds 12 months.

Types of Rental Agreements That are Frequently Used

One of the most popular rental agreements in the country is the tenancy agreement for 11 months. This type of contract can be extended after the expiry of its 11-month period. Such contracts do not require registration due to their short length.

Long-Term Rentals

Which are usually signed for residential purposes and show a lump sum deposit rather than the payment of rental income, are properly recorded and notarized.

Lease of Business Property

Agreements between a business and a landlord or two companies are known as commercial leases or agreements.

Frequently Asked Questions

What is the difference between a rent agreement and a rent deed?
In a home rental agreement or a commercial property rental agreement, the terms and conditions are included. A tenancy agreement has legal validity only after registration with the Sub-Registrar. The lease charges stamp duty. The amount of stamp duty is different from state to state.
How do I write a simple rent agreement?

An ideal tenancy agreement should include the following clauses;
● Length of the rental period.
● Monthly rent.
● Security Deposit.
● Penalty for late payment of rent.
● Additional charges like maintenance, society, water, gas, etc borne by any of the tenants or landlords.
● Provision of parking, if applicable.
● Any damage or repair charges.
Why is the lease deed important?
This agreement is an important document establishing the tenancy as the owner of the property as well as determining the rights and obligations of the parties and is necessary to establish the legality of the lease between the two parties. The law in case of dispute
What happens if the lease is not registered?
The lease deed/rental agreement may be confiscated and a penalty of 10 times the unpaid minimum stamp duty may be levied by the stamp collector. An unregistered and/or poorly stamped lease deed / rental agreement is not admissible as evidence in a court of law.
Is the lease valid if not registered?
Even if a lease is not registered, it is still legally binding in most places. But registering a lease can give you more legal protections and may be necessary in some situations, like when a property is sold or given to a new owner.
Who prepares the lease deed?
Most of the time, the landlord or the landlord's legal representative, like a lawyer or real estate agent, writes up the lease deed. But in some cases, the renter may also write the lease or have a say in how it is written before it is finalized.
What is the maximum lease period in India?
This lease is usually drawn up by the landlord's solicitor, usually on an ADLS Deed of Lease. The deed of the lease will contain all the terms negotiated in the lease agreement and provide additional terms that will go over the day-to-day operation of the lease and the obligations of the parties.

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