Draft Rent Agreement

Rent Agreement is a legal document outlining the terms and conditions mutually agreed upon by the Owner and the Tenant for leasing a specified property. It serves to safeguard the interests of both parties by clearly defining their rights and responsibilities during the rental period. The agreement covers crucial aspects such as rent payment, security deposit, utility charges, permitted use of the property, maintenance responsibilities, termination clauses, and dispute resolution. It is intended to ensure transparency and avoid conflicts by providing a comprehensive framework for the tenancy. By entering into this agreement, both parties consent to abide by the terms laid out and acknowledge their obligations as stipulated.

RENT AGREEMENT

This Rent Agreement is made & executed at ___________ on this _____ day of _____, 202_ by Mr. XXXX S/o Sh. XXXX (Aadhar No: XXXX) R/o XXXXXX, hereinafter referred to “THE OWNER/FIRST PARTY” which expression shall unless repugnant to the context include the said Owner, his heirs, successors, executers, administrators, legal representatives, nominee(s) and assigns of the one part:

AND

Mr. XXXX S/o Sh. XXXX (Prop. of M/s ABC ), (Aadhar- XXXX & PAN- XXXX) R/o XXXXX, hereinafter referred to as “THE TENANT/SECOND PARTY” of the other parts:

Whereas the first party is the absolute owner and in possession of PROPERTY at (RENTED PLACE), (hereinafter referred to as the said property).

whereas the tenant has approached to the owner and requested to grant this rent and owner has accepted his request and has /have agreed to let (RENTED PLACE), to the tenant and the tenant has agreed to take the same on the following agreed terms and conditions: –

NOW THIS AGREEMENT WITNESSESS AS UNDER:-

1. That the Tenant shall pay a sum of Rs. XXX/- (Rs. XXXX) per month as rent to owner always in advance on or before the 7^th each English Calendar month.

2. That the Tenant has paid to the owner a sum of Rs. 0/- (Rs. Nill) as an interest free security, equivalent one month rent which will be refundable at the time of handing over the peaceful vacant possession of the said premises to the tenant, after deducting expenses towards damages, wear and tear, if any.

3. That the tenant shall pay Electricity & water charges as per meter reading/bill to the owner /authorities concerned.

4. That this rent is a granted for a period of eleven months (11) only commencing w.e.f. ____st day of 202_.

5. That the tenant shall not sublet the whole or any part of said rented premises to anyone else in any case at any circumstances without obtaining prior written permission from the owner.

6. That the tenant shall not make any additions or alterations in the rented premises, without obtaining prior written permission from the owner.

7. That the Tenant shall permit the owner or his /her authorized agent to enter into the said rented premises for inspection/general checking or to carry out the repair work, at any reasonable time.

8. That the Tenant shall use the said rented premises for COMMERCIAL/ RESIDECIAL (as required) purpose only.

9. That the Tenant shall be responsible to attend all the minor day to day repair such as fuses of bulbs and tubes, leakages replacement of water taps, etc. at his/her own cost but the major repairs in the said rented premises shall be attended to by the owner at his/her own cost.

10. That this rent can be terminated even before the expiry of the leased period, by the either parties giving one month written notice from both sides.

11. That the Tenant shall not store any inflammable material or explosive in the said rented premises or do or omit to do any act which causes nuisance or annoyance and or violation of any applicable rules and law of civil/concerned/local society authority, including laws framed protection of fire.

12. That the Tenant shall abide by all the bye-laws rules and equal actions of the civil /concerned/local/society authority in respect of the said rented premises.

13. That after the expiry of this agreement it may be renewed with mutual consent and the tenant has agreed to increase 5% rent on its renewal by mutual consent of both the parties.

14. That if the tenant fails to pay the monthly rent to the owner as hereby agreed upon in time, this rent will be terminated /cancelled automatically and the Tenant have no right/claim for the rent and the owner can have the possession of the said premises in his /her/there control without any process of law and the Tenant shall have no objection to the same nor have any claim over its goods lying in the said premises at the such time.

15. That in case of any dispute that may arise between both the parties in that case the dispute /case will be handed over to the concerned court of law of (District/ State Name) and the case will be handed over to the jurisdiction of (District/ State Name).

IN WITNESS WHEREOF the parties here to have signed this Rent Agreement on the day year first above written in the presence of the following witnesses.

WITNESSES:-