A Rental Agreement is an agreement between the owner of a property and a renter who wish to have temporary possession of the property. This agreement contains the identification of parties, the property and the amount of rent. The owner of the property may be referred to as the owner and the renter as the tenant.
Types of Rent Agreement:
1)Online Rent Agreement: In Online Rent Agreement, the required information is provided and photographs are uploaded with valid address proof and identity proof.. (depending upon the stamp duty charges and Registration charges)and it takes around two to three working days
2)NotarisedRent Agreement: Notarized Rent Agreement can be made by purchasing stamp paper and filling contents of the agreement. This agreement is validated once it is signed by both the parties owner as well as tenant .it take approximate 2 to 3 hours if the stamp is available.
It is important to remember the following.
1) A person may give his residence space to anyone on rent for a specific time period on a live license basis.
2)After completion of a specific time period, the owner of the premises can occupy their place With the help of the competent authorities.
3)In exchange for using this space, he can take a fixed amount every month.
4)The owner can also take a deposit from the person.
5)On a Leave License basis, a tenant does not get the protection of Mumbai Rent Control Act but the owner can get the benefit.
6)After the expiry of the term, the owner of the space can force the tenant to leave the space with the help of competent authorities.
A rent agreement must mention the following clauses clearly:
●Duration of the tenancy
●Security deposit and monthly rental to be paid
●Penalty for late payment
●Usage charges like electricity, water, cooking gas, telephone, internet and cleaning charges to be borne by the tenant as usual
●Any additional charges like maintenance charges, clubhouse fee, power back-up charges, etc. to be borne by landlord or tenant as applicable
●Provision of parking at a designated space
●Inventory of materials being provided on the premises. This includes all electrical fittings, fans, geysers, furniture and fixtures
●Provisions on the whitewash, maintenance and repairs
●Prohibition on making any structural changes in the premises and undertaking any construction resulting in permanent structures
●Safety and security norms
●General up-keeping and peaceful possession of the premises without causing any disturbances or nuisances
●Lock-in period, if any
●Provisions regarding keeping pets, especially dogs and cats
●Sub-letting, which is generally prohibited by the landlord
●The notice period for vacating the premises
●Conditions for renewal of the agreement
Rental Agreement for 11 months is made to avoid the Strict Rental Law which apply for the 12 months, that is why also the One Month in the count of 12 months is considered as the month of Notice Period Serving by the Owner.
It is a new facility introduced by the Maharashtra government that enables you to register your Leave and License (Rent) Agreement online without visiting the sub-registrar office. Signatures are captured using a biometric device and user details are verified using the Aadhaar system.
It's mandatory to register to Leave and License in Maharashtra and Tenants not registering their Leave and License may not get Police Clearance now on. As per directives issued by the department of registration and stamps, Police Clearances certificates will not be issued to unregistered agreements.
Yes. POA holder can be the licensor of the property. The registered rent agreement will have POA’s name as the licensor and not Owners name. In case you are out of India, you can try our Remote Rent Agreement E-registration.
Yes. You can register any type of property with us provided it should be a legal entity.
The procedure of making “Online Rent Rent Agreement” has more value for money as it saves the effort of going to the Sub-Registrar office and is more economical than the manual procedure. However, sometimes due to server maintenance the Agreement may take more time than normal.
The following are the basic differences between Online Rent Agreement and and Notarized Rent Agreement
●Registered Rent Agreement/Leave and License Agreement is accepted by the Court of Law, however Notarised Rent Agreement has no Legal Significance
●Registered Rent Agreement has to be registered by the Sub-registrar office and so registration fee is charged. However, Notarized agreement is only notarized
No Hard copy of the agreement is provided for Online Registered Rent Agreement. Only Soft copies of the approved Registered Rent Agreement (By the sub-registrar officer) is sent through email. The print out can be taken and used as Hard copy. For more details read the blog on Authenticity of Online Registered Rent Agreement.
The responsibility of registering Leave and License Agreement lies with the licensor and in absence of it, the licensor may face conviction with imprisonment which may extend to three months or with fine not exceeding rupees five thousand or with both.
●Proof of ownership of property, in original Like Index-II, Property Tax or Electricity Bill
●Aadhar card, Pan Card
●Another government ID proof: driving license, voter ID card or passport for Notarized document.
●2 passport size photos for Notarized document.
●Government ID proofs mentioning the permanent address. For example, driving license and voter ID card. The PAN card can be used as photo ID proof, but as it does not mention the address, a tenant still requires to submit a copy of the aforementioned documents
●2 passport size photographs
Note : Here is the List of Police Stations for Police Verification In Pune
Click Here to Check