In the state of Madhya Pradesh, stamp duty on rental documents is calculated at 8% of the total deposit rent. If there are legal disputes between tenants and landlords, it is above all the tenancy agreement that is important. If this agreement is vague or poorly worded, Lord will assist the parties concerned. Here are some things that should be checked before you design the lease. A lease is at the heart of the entire lease transaction. If well developed, the whole experiment would be smooth, otherwise there could be a lot of friction between the parties involved. Here are some clauses that should never be omitted from your lease, even if the parties involved are big friends. Caution: This is a lump sum paid before the tenant moves in. This is very similar to the caution guarantee and is collected in advance as a precaution against harmful incidents. If the tenant causes damage to the property or jumps rent, the damage resulting from this amount will be compensated.
This amount is refunded according to the valid deductions. 11-month lease: This is India`s most used format for the lease. As the name suggests, this agreement is signed for an 11-month period, with the possibility of extending at the end of the period. A rent of a few months is cashed in the form of a deposit, but apart from that, there is no other lump sum payment involved. Although this is the most common method, some people may not have the time or money to go to the lawyers to do the development. In addition, there is some question as to the lawyer`s ability to develop a comprehensive agreement covering all contingencies. That`s why our prefabricated, ready-to-use leasing model verified by legal experts is a safer option. The registration fee in the state of Madhya Pradesh is 1% of the total down payment rent.
Rental, maintenance and deposit fees – Monthly rent, maintenance fees and prepayment must be discussed and agreed in advance. If it is not written in words, the owner could change his word and quote another amount, and there will be nothing that can be done. We are currently live in Karnataka – Delhi, and 200s of customers each month have fallen and use our idea. But with the growth of the company also increases the number of ideas, officers, technology and partners. Contact us for Business@RentalAgreement.in, or Career@RentalAgreement.in penalty for late deposit – If the tenant refuses to pay the rent within the agreed time frame, the penalty should be clearly stipulated in the contract.