Aspire Innove - Buy Sell Rent Properties

All you need to know about Rent Agreement

Rent agreement that is equal to or more than 12 months has to be registered as a mandatory requirement.

The original document of ownership required.
The detailed rental agreement should be printed on a stamp paper duly signed by the tenant and landlord/owner of the property.
Two witnesses’ signatures are required. The witnesses shouldn’t be related to either of the parties.
The tenant, landlord, and two witnesses should also submit their passport size photographs along with valid ID proofs for further validation.
The completed document is then submitted in-person to the Sub Registrar office.
On the payment of stamp duty and registration charges, your agreement becomes a registered deed.

An ideal rental agreement should cover the following clauses:

Duration of the rent period
Monthly rent
Security deposit
Penalty for late payment of rent
Provision of parking, if applicable
Any damage or repair charges
Rights of tenant
Rights of landlord
Additional charges like maintenance, society, water, gas, etc to be borne by the tenant or landlord