Details
Generally, long term
more than 11 months is termed as a lease agreement. The lease agreement is
executed one stamp paper between the first party, owner of the property, who is
letting out the house, flat, or room and second party, the tenant (individual)
who agrees to take on rent. It is a good practice to mention specifically all
the terms and conditions, generally like tenant is not allowed to sublease, has
to bear all the damages if any, and painting at the termination of the
agreement and if it mutually agreed to extend, there will usually be a 5% to
10% increase in the rent after the lease term. Often the cost of documentation
will be borne by 50% both by the owner and the tenant (individual) and
depending on the total amount, total rent per annum plus advance together sets
the value of e stamp paper required.
information will be provided on demand
Terms and Condition
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