Answered on August 16,2021
Terms & conditions in rent and lease agreement are same but the main difference is payment terms & duration of agreement.
At below, we listed the difference between Rent and Lease agreement with mock agreement images for your consideration.
Rent is a recurring payment of tenancy.
Generally, rent is paid on a monthly or quarterly basis.
Generally, duration of rent could be 1 to 11 months. Post 11 months, rent agreement is renewed with the mutual concern of landlord and tenant.
The below image is the mock format of rent agreement.
Lease is a one-time hefty payment by tenant to landlord, This payment is refunded at the end of tenancy
No monthly or quarterly recurring payment is applicable.
Generally, the duration of lease could be up to 3 years for residential and up to 10 years for commercial accommodation.
Below is the mock image of “Lease agreement”.
We provide rent and lease consultation.
We provide agreement service in Karnataka, including Bangalore. Our service includes drafting + execution + notary + home delivery in 2 working days.
To opt for our service, please WhatsApp to 9 7 4 2 4 7 9 0 2 0.
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- I have to present an application for passport at the passport office. I just have a Notorised House rent aggrement, along with old passport, adhar card, pan card , electricity bill. Will these be sufficient for the passport submission?
- Can I use a notary rent agreement as a proof of address document to apply for a passport?
- Can GST registration be done with rent agreement ? My CA told me for gst registration shop electricity bill is mandatory.
- I have taken a space for rent and have submitted rent agreement for gstin but they are asking for municipal tax receipt/bill. But the tenant's municipal tax is due but i have submitted that.Will they accept it?
- Is it necessary to Notarized Rent Agreements in India?
- Is it mandatory to notarize a rent agreement ?
- I am a dropshipper. How can I get a gstin no if i don't have any property but my father has? How can I make a rent agreement with my father?
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