Things That Are Essentially Included In The Rent Agreement
If you have ever get to live in rented accommodation; then you may have come across the rent agreement; the only legal proof of you living in any property. Quite a few people know about it carefully while others still struggle to understand the concept of the rent agreement, thus, face problems in the future. If you are planning to shift into another accommodation, then pay heed to a few points related to rent agreement that can help you out. Here are a few of them-
Why It Is Prepared:
The first valid question that pops up in everyone’s mind is why the rent agreement is prepared at all. The answer to this question is to avoid any misunderstanding or conflict of interest at a future date. It includes all the important terms and conditions, violations, details of furniture, accessories, duration of the agreement, agreed upon date of rent payment, yearly increment in the rent and other important points. Both the parties can live peacefully and behave professionally if they have a rental agreement prepared with them.
Details of Points That Are Included:
The rent agreement format consists of minimum 3-5 pages on which all the points are mentioned in detail. A Rs. 100 stamp is attached to the agreement and is signed upon by both the parties. The first page of stamp states the details of tenant and landlords including the signature, detailed address and contact details.
The second page of the agreement consists of all the details concerning the purposes of rent, total rent, advances (if any), the mode of payment, etc. Some people prefer to pay the rent through cash mode while others make cheque payments. Whatever may be the case, the tenant will have to mention in the agreement as which mode of payment he will opt for.
All these details are put on the second page of the agreement. Once they are stated, the landlord puts down all the conditions that one will have to follow while living in his property. These conditions may include about coming late, drinking outside the property, loud music, and other related things. The conditions can be finished in one page or can go on for 3-4 pages. They cover the maximum part of the agreement. After them, both the parties sign on the last page and give their approval.
So, keep these points in mind when you sign a rent agreement next time.