How to Create Rent Agreement Online?

A rent agreement is a contract document which is officially done between a tenant and a property owner. This rent Agreement is required when you are staying in a house on rent or when you need a property rent. This rent agreement is entered between the owner of the property and the tenant. Tenant is someone who wants to temporarily stay and take possession (temporary) of the property of the owner by paying a certain amount as rent. A tenant can stay at the property for the time period that is mentioned in the rent agreement.

A rent agreement is also addressed as a rent deed or a lease deed and contains all the basic information like the details of the property, the property owner, the tenant, the tenure of rental and the rent specified for the decided time period.

Since a rent agreement is a ;legal document related to property, it is usually drafted on stamp paper. These are two types of rent agreements or contracts in India:

• A Lease Agreement:  This type of rent agreement lasts for a minimum time period of 12 months and is governed by the Rent Control Laws that are issued and enforced by the State Government.
• A Lease and Licence Agreement: This rent agreement lasts for a time period of 11 months and these are neither monitored nor enforced by the Rent Control Laws.

What does a rent agreement contain?

The constituents of a rent agreement vary from place to place. Some of the main and usual constituents of a rent agreement are listed as follows:

• The names of the property owner an the tenant and their agents
• Details of the property
• The decided rent, due dates of payments, late charges and the grace period
• Mode for the payment of rent
• Ways of terminating the rent agreement before the expiration date and its charges if there are any
• The amount of security deposit and its details
• Basic utilities availed by the landlord and their charges if any
• Facilities that are allowed for use to the tenant like pool, security system etc.
• Any sort of rules and regulations set by the landlord regarding pets, noise, etc.
• Details of Parking Spaces, if provided
• The process of emergency requests and the handling of tenant repair requests

Execution of a Valid Rent Agreement

The Registration Act, 1908 mandates the registration of rent agreement if the duration of the rent agreement is more than 12 months. But, if the duration is less than 12 months or 11 months, no such registration of rent agreement is required. In this case, drafting and signing the rent agreement on a stamp paper will be considered valid by the law.

If the duration of the rent agreement is within 12 months, a stamp paper needs to be acquired for the printing of the rent agreement from the office of the Sub-Registrar of the place where the property is situated. Once the rent agreement is on a stamp paper, every single page of the stamp paper needs to be signed by both the tenant and the owner at the bottom. Along with this, the signs of two witnesses and their names and addresses should also be mentioned in the rent agreement to make it valid.

However, if the rent agreement needs to be drafted for more than 12 months, the rent agreement will be printed on a stamp paper and will have to be registered with the Sub- Registrar’s office of the area to which the property belongs. Both the owner of the property and the tenant should be present in the Office of the Sub-Registrar to execute the rent agreement. They should sign on every page at the very bottom of the stamp paper. Also, the registration fees should be paid and the signs of any two witnesses should be acquired on the stamp paper.

Documents you need for Rent Agreement

The documents that need to be submitted by the property owner, tenant and their witnesses at the time of rent agreement registration are listed as follows:

• Proof of Ownership of the rented property like title deeds of the rented property that contains the name of the property owner
• Property documents of the property to be rented
• Passport-sized photos of the owner, tenant and the witnesses
• Address Proof of both of the parties like Aadhar cards, passports, bank passbooks, ration cards or driving license etc.
• Route map of the property that is going to be rented out