The rental agreement should contain the names and addresses of the lessor and tenant, the terms of the lease, the duration of the lease, the rent and the amount of the deposit, the restrictions for both parties, the conditions for termination of the contract, the conditions for renewal and details of who should bear other costs such as maintenance costs, repairs, etc. The Registration Act of 1908 makes it compulsory to register a lease if the duration of the tenancy is longer than 11 months. Click here to check the format of a lease in English. See also: Arbitration clause in rental agreements and how it can help landlords and tenants From a horde of MNCs to ancient temples, Chennai has it all. It is therefore not surprising that a good number of educated people move to cities like Chennai and Coimbatore, mainly for jobs, which in turn has increased the demand for rental property. After the rental agreement has been established, the owner must print it on stamp paper. Once the tenant and landlord have signed the documents in the presence of two witnesses, they must declare them to the sub-regulator after payment of the required fee. In case of disagreement in the future, the lease will be one of the priorities of the dispute. However, there are other factors that, if overlooked, can cause bigger problems. Here are a few things you need to keep in mind – the bill also states that tenants who extend their stay in rented accommodation as mentioned in the agreement are required to pay double the tenancy for the first two months and four times the rent in the following months.
Repairs: the agreement must mention who bears the costs related to wear and tear. The omission of certain important clauses in your rental agreement leads to unpleasant disputes in case of disagreement between the tenant and the lessor. Even if the two parties know each other, the ideal is to make a comprehensive agreement to cover your back. See also: Main clauses for each visiting tenant: the contract must contain a clause on who can visit you and at what time. Note that notarized leases are not identical to registered documents. In the event of a dispute between the lessor and the tenant, the court will not allow as evidence a notarized agreement. . .