Rental Agreement Online – Format & Templates
Rental Agreement Online – Format & Templates
A rental or tenancy agreement is a legal document that lays out the prescribed terms and conditions under which the rented property is leased out, which are to be followed by the landlord and the tenant. Though the relationship between the landlord and the tenant is cordial most of the time, it is good to have a written rental document in place if the relationship turns sour or becomes fraught with complaints and misunderstandings. You can prepare it yourself using the right rental agreement format. This article helps you to learn about this legal document and download a rental agreement word format as well as PDF format.
Download Rent Agreement format PDF and Word
You can download the Rent Agreement format PDF and Word,
Executing an Tenancy Agreement
The lease deed can be used by the lessor or lessee of a residential property. It is signed by the lessee and lessor to indicate agreement to the conditions placed by the lessor. It is a legal document with the force of law that courts may reference in a disagreement. It must be printed on a Non-Judicial Stamp Paper valued at Rs.100/- or more. And it is usually signed on payment of a deposit for the rental property between the lessor and the lessee. Two copies of the document are usually executed, with each party retaining one of the original copies. Ensure our rental agreement format to complete your legal document.
Terms of Agreement
One of the most common features when entering into a property rental transaction in India is the prevalence of the 11-month agreement period. A period of 11 months is preferred by most landlords while entering into property rentals because there are two types of agreements that deal with property rental in India: lease agreement and leave & license agreement.
Lease Agreement
Lease agreements that are over 12 months have to abide by strict rent control laws that are mostly favourable to the tenants. Rental control laws currently prevent landlords from overcharging tenants and protect them from sudden or unfair evictions. Also, the right to ownership of the property gets transferred from the landlords to the tenants in case of a lease agreement, making it harder for the landlord to vacate a tenant. Hence, Landlords do not prefer to enter into this type of rental agreement form that is over 12 months.
License Agreement
License agreements, on the other hand, are entered into for 11 months, with an option to renew the agreement at the expiration of the agreement. It is 11 months long is just a license for the tenant to occupy the premises for a short duration. Hence, rent control laws do not apply in most states. Further, rental documents that are 11 months long allow the landlord more measures to take in case of eviction of a tenant from the property. Hence, most landlords prefer to enter into an agreement that is 11 months long, with an option to renew at the end of the rental agreement form period.
Prepare your document easily with our rental agreement format.
Read more about tenancy agreement vs lease deed.
