Rental agreement

You may get the format of rent agreement on the web, but can not make an agreement itself online. Rent Agreement needs to be clearly drafted on stamp paper and should either get registered at the Registrar office Or else it should be duly attested by the the Notary Public .

1. SWARIT ADVISORS
Rental
Agreement
A Guide on Residential Agreement
Format

2. OVERVIEW
In this fast paced world, gaining and
retaining trust is a tough task.
Therefore, it is necessary to secure
your property with aRental
Agreement. Further, the purpose of
drafting this document is to safeguard
and protect the interest of both
parties. In today’s blog, we will talk
about theconcept of Residential
Agreement Format.

3. Arental agreement is a legal documentbetween
the landlord (owner) and tenant for a fixed
period of time. Through this document, a tenant
acquires temporary possession in the property. All
the terms and conditions of the tenancy are
decided by both parties. However, the renewal of
theresidential agreementdepends on the wish
and will of the owner of the property.
CONCEPT
-An Insight

4. CONCEPT OF RENTAL
AGREEMENT
Further, thiswritten agreementis also
known as theRental Contract, and the
parties need to draft it on a stamp
paper. A rent deed that is not duly
registered or notorised will have no
legal binding force. Thus, a tenant
mustpay stamp dutyas well as
registry charges on theresidential
agreement.

5. MEANING OF
LANDLORD
WHAT YOU NEED TO KNOW
In simple terms, theowner of the
property is known as the Landlord. A
landlord or any person acting on
behalf of him/her is entitled to
receive a rental amount for the
premises. The term “acting on behalf”
includes a guardian, trustee, or
receiver.

6. MEANING OF TENANT
Any person who pays the rent for a premise
is known as the tenant of the property. A
tenant occupies possession on the
permission of the landlord. Further, the
term “tenant” includes subtenant as well.

7. CONTENTS OF RENT AGREEMENT
FORMAT
•Name of the Landlord (Owner);
•Name of the tenant;
•Details of the Property;
•Amount of rent together with the Due Date of Payment and Grace
Period;
•Term of the Residential Agreement;
•Mode of Paying the Monthly Rent;
•Charges of Water, Electricity, and Maintenance;
•Situations of Contract Termination prior to the Expiration Period;
•Amount of Security Deposit;
•Process for Handling Emergency Requests;
•Any other Rules and Regulations.

8. •Lease Agreement
•License
Agreement
Types of Residential
Agreement Format

9. STANDARD
TERMS IN A
RENT DEED
•Names
•Amount of Rent
•Duration of Agreement
•Security Deposits
•Terms and Conditions
•Utilities
•Insurance Clause
•Maintenance and Repairs

10. STEPS TO CHECK THE LEGAL
VALIDITY
OF THE RESIDENTIAL AGREEMENT FORMAT
Step 1
Rent Deed is
drafted on aStamp
Paper
Step 2
Both Parties, i.e.,
tenant and landlord
must have signed at
the bottom of each
page
Step 3
Both Parties must
have signed at the
last page of the
agreement
Step 4
Rental Agreement
Formatmust
include name,
address,

11. RENTAL AGREEMENT
A Rent Deed is a month to month agreement.
In a rent deed, the landlord can amend the rules and
regulations, amount of rent, and terms of the rent.
However, the same is possible only after giving proper
notice to the tenant.
LEASE AGREEMENT
A Lease Deed is made for a specific time period.
In a lease deed, the Lessor does not have the right to
modify any rules or regulations or lease terms. A
Lessor can make changes only after the expiration of
the Lease Deed.

12. TENURE OF RESIDENTIAL
AGREEMENT FORMAT
Arental agreementmust specify
the period of the agreement.
Normally, a period of 11 months is
considered as the standard time of
the rent deed. That means the
parties need toget the deed
registeredand notorised after the
expiry of 11 months.
NOTORISATION OF THE RENTAL
AGREEMENT FORMAT
The owner of the property
needs to notarize therent
agreementfor renting out an
immovable property. The term
“Notorisation” denotes that all
the documents are correct, and
signs are accurate.

13. Stamp Duty on
Rent Deed
If a Rent Deed is for more than 11 months, then
the parties to the Rental Contract needs toget
the Rent Deed stamped. TheStamp Dutyand
Registration Charges vary from one state to
another.

14. MANDATORY CLAUSES OF A RESIDENTIAL AGREEMENT FORMAT
Amount of Rent;
Security Deposit and other payments;
Duration of Rent Agreement;
Terms for the Renewal of Agreement;
List of Fitting and Fixtures;
Registration of Agreement;
Any other Restrictions imposed by Landlord.

15. CONCLUSION
After discussing thoroughly, it can
be summarised that arent
deedplays a significant role in
safeguarding the rights of both
landlord and tenant. Further, both
parties must carefully read all the
terms and conditions of the before
signing.
Reach out toSwarit Advisorsto
obtain an end to end assistance and
legal advice on theresidential
agreement. Our experts rank high in
drafting legal documents.

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Source -https://swaritadvisors.com/learning/rental-agreement-a-guide-on-residential-agreement-format/