On the other hand, lease or license agreements are concluded for a period of 11 months, with the possibility of renewing the contract at the end of the contract. As an 11-month lease, only one license for the tenant is to occupy the premises for a short period. As a result, rent control laws do not apply in most countries. In addition, 11-month lease agreements allow the landlord to take more action in case of eviction of the tenant from the property. Therefore, most landlords prefer to enter into an 11-month lease agreement with the option to renew at the end of the contract term. Number of residents: The agreement must indicate what will happen if your family members come to see you in the future. To promote rental housing in India, the government has formulated a draft directive, the Model Tenancy Act, 2020, to make the transaction beneficial for both landlords and tenants. 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. ______ Even if the two parties know each other, the ideal is to make a comprehensive agreement to cover your back.
A rental contract is a legal document defining the previously discussed conditions in which the rented property is rented to be respected between the lessor and the tenant. In India, the 11-month rental term is preferred by most owners when renting real estate….