What are some points to remember while drafting a rental agreement ?

Here are the few points to remember while drafting a rental agreement.

  1. Rental agreement made and execution date
  2. Landlord’s name, age, residential address and pan number
  3. Tenant’s name, age, permanent residential and pan number
  4. Complete address of rental premise address
  5. Rental duration or rental cycle
  6. Year on year rent appreciation value or percentage
  7. Rent commencement date
  8. Monthly rent
  9. Monthly maintenance cost
  10. Refundable security deposit
  11. Any other additional cost like electricity, water, gas, parking charge etc..
  12. Bank account to transfer monthly rent
  13. Date of rent payment
  14. Is sub-letting or re-letting allowed or only for said tenant possession
  15. Purpose of accommodation (Residental or commercial)
  16. Renovation cost (Painting & cleaning)
  17. Responsibility for damages & repairs
  18. Rules & regulation of owner’s association, society or maintenance office
  19. Details of periodic property inspection
  20. What if rent is not paid on time? Maybe penalty or late payment fee?
  21. Taxation
  22. Notice period
  23. Complete schedule of the property with fixtures, fittings and furniture details with brand name & quantity
  24. Section or space for signature of landlord, tenant, and witness

Below we attached the image of mock draft for your consideration.

        Please write to us if you looking for mock agreement in word format. We share draft at no cost.

In Karnataka, we provide rental agreement service with notary and home delivery. To opt for our service, please Whatsapp to 9 7 4 2 4 7 9 0 2 0.

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