Who Should Keep The Original Rental Agreement In India

A lease provides for a tenancy for a short period of time, which is renewed later after the end of the period. Typically, a landlord and tenant make a lease for a period of 11 months with the option of regular renewal. Since the current Rent Brake Act is largely tenant-friendly, but only applies to leases of at least 12 months, establishing an 11-month pact helps landlords take preventative measures to evict. Due to the archaic nature of this law, the new Model Rental Act 2019 was recommended. To register a rental agreement, you will have to pay fees such as stamp duty and registration fees. The costs are usually shared between tenants and landlords, but mention this in the agreement. There should also be clarity on who pays the fees such as legal fees, if any, or the intermediary to the agents.

Please follow and like us:
Wordpress Social Share Plugin powered by Ultimatelysocial