In a tenancy agreement, the following clauses must be clearly stated: the bill also stipulates that tenants who renew their stay in a rented apartment as mentioned in the contract must pay double the rent in the first two months and four times the rent in the first two months. Under the provisions of the 2019 Standard Rent Bill, landlords cannot apply a pre-fixed rent increase for the entire period for which a tenancy agreement was signed. For example, when the lease expires after 11 months, the lessor cannot increase the monthly rent during that period. It is only at the expiry of this period and the date of registration of the new lease that the lessor is legally entitled to proceed with an increase in the rate that does not generally exceed 10% of the existing amount. In addition, the landlord must give the tenant three months` notice before increasing the rent under the bill. Number of occupants: The agreement must indicate what happens if your family members come to see you in the future. Establishing a written lease is a work of the past. With increasing technology, some companies have the facility to create an online agreement for you. These companies will help you save time by reducing the above procedures and also by making the contracting process easy. One such company is Feelium E-Contracts, where you get models for your various contractual needs. You can not only pay and download the rental agreement, but also modify the model according to your wishes. So use this digital way of creating a lease if you own a property and rent it out to an individual or business.
Note here that notarized certified rentals are not identical to registered documents. In the event of a dispute between the landlord and the tenant, the court will not accept a notarized agreement as proof. It is therefore important to register the rental agreement correctly. In some countries where electronic stamping is available for leases, you don`t need to physically purchase stamp paper. You can register on the website of the Holding Company of India (SHCIL) and verify that the state in which you reside offers this establishment. Currently, Assam, Gujarat, Himachal Pradesh, Karnataka, Maharashtra, NCR Delhi, Tamil Nadu, Uttarakhand and Uttar Pradesh allow electronic signing of leases. Under Section 49 of the Registration Act, all leases must be registered with the sub-registry office for a period of 11 months. On the other hand, it is not mandatory to register a rental contract of less than 11 months.