What are some points to remember while drafting a rental agreement ?

Answered on November 03,2020

Here are the few points to remember while drafting a rental agreement.

Rental agreement made and execution date
Landlord’s name, age, residential address and pan number
Tenant’s name, age, permanent residential and pan number
Complete address of rental premise address
Rental duration or rental cycle
Year on year rent appreciation value or percentage
Rent commencement date
Monthly rent
Monthly maintenance cost
Refundable security deposit
Any other additional cost like electricity, water, gas, parking charge etc..
Bank account to transfer monthly rent
Date of rent payment
Is sub-letting or re-letting allowed or only for said tenant possession
Purpose of accommodation (Residental or commercial)
Renovation cost (Painting & cleaning)
Responsibility for damages & repairs
Rules & regulation of owner’s association, society or maintenance office
Details of periodic property inspection
What if rent is not paid on time? Maybe penalty or late payment fee?
Taxation
Notice period
Complete schedule of the property with fixtures, fittings and furniture details with brand name & quantity
Section or space for signature of landlord, tenant, and witness

Below we attached the image of mock draft for your consideration.

Please write to us if you looking for mock agreement in word format. We share draft at no cost.

In Karnataka, we provide rental agreement service with notary and home delivery. To opt for our service, please Whatsapp to 9 7 4 2 4 7 9 0 2 0.

Thank you for reading…

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