In order to safeguard the rights of both tenants/licensee and landlords/licensor, you must ensure that you have a written rent agreement. While finalising this agreement, it is very important to read all the terms mentioned in it.
These terms not only decide your rent amount and security deposit but also covers many other important aspects such as maintenance of the house/property you are leasing, payment of relevant bills, notice period of leaving, etc.
Names of Tenant/Licensee and Landlord/Licensor
Purpose of Agreement
Duration of Agreement
Date of Payment of Rent
Security Deposit Amount
Assignment of Responsibility of Repairs
List of Furniture/Fittings/Other items
Notice for Termination of Agreement
Notice for Landlord’s Entry into Premises
Declaration to Abide by All Bye-laws of the Society/RWA
Declaration to Not do Illegal Activities
Declaration to Sub-let Only With the Permission of the Landlord/Licensor
Courts to Approach for Dispute Resolution
Rate of Increment of Rent After a Certain Period, if any.
Signatures of Landlord/Licensor or Tenant/Licensee
Signatures of Two Witnesses2