The rental agreement should contain the names and addresses of the lessor and tenant, the terms of the lease, the duration of the lease, the rent and the amount of the deposit, the restrictions for both parties, the conditions for termination of the contract, the conditions for renewal and details of who should bear other costs such as maintenance costs, repairs, etc. Maintenance: The agreement must clearly specify who is to pay the monthly maintenance fee. It may seem like a big effort, but now you can use online rental services. LegalDesk offers ready-to-use online rental agreements certified by a lawyer. You can use it to create an agreement in minutes. The bill also provides that tenants who extend their stay in rented accommodation, as mentioned in the agreement, are required to pay double the amount of rent for the first two months and four times the rent in the following months. See also: Arbitration clause in rental agreements and how it can help landlords and tenants Number of residents: The contract must state what will happen if your family members come to you in the future. Under the new law, anyone can apply for registration of the lease. The landowner, the tenant or even the manager.
This ensures that at least some of these three people will be held liable if no application for registration has been requested. In order to facilitate the process of registering a lease, the Government of Tamil Nadu has opened a new web portal where rental contracts can be submitted for registration. Any extension of the rental agreement is also treated as a new application and must be registered on the online portal. The Registration Act of 1908 makes it compulsory to register a lease if the duration of the tenancy is longer than 11 months. Note that notarized leases are not identical to registered documents. In the event of a dispute between the lessor and the tenant, the court will not allow a notarized agreement as evidence. It is therefore important to have the lease properly registered. A lease is a legal and binding document that is established when a person lends their house or dwelling to another person for residential purposes. The lease is a very important document since it fixes the amount of the rent, the terms and conditions of the contract. The lease also serves as proof of address for the person in the rented apartment. Stamp duty is essentially a form of tax levied on legal documents in order to make it legally enforceable. In Tamil Nadu, the stamp duty paid for rental contracts is usually equal to 1% of the amount of rent + deposit, regardless of the duration of the rental.
It is very important to have a lease since the government of Tamil Nadu has made it mandatory from February 22, 2019. . .