A rental contract is a legal binding between the property owner and the renter in which the owner aggress to rent his/ her property to the second party and fix an amount for monthly or annual rental as per the suitability.  This contract is a written commitment which is signed in the presence of the witness.

Types of Rental contract: property rental contract, shop rental contract and house rental contract are the three main categories for which this contract is widely used. The terms entered into this contract are mutually agreed by both the parties. Any change happens to the mentioned covenant & conditions are being informed by the property owner to the tenant through a legitimate circular.

A rental contract is based on the following factors:

(a)Contract number and date on which contract is commencing and terminating.

(b)Contact details of both the parties, including permanent address, phone number and e-mail id, etc.

(c) Details of the agent, if there is any.

(d)Specified information of the property rented by the renter.

(e)Provisions including furniture, water facility, electricity and others facilities offered by the property owner.

(f)  Duties for the renter and conditions to utilize the offered facilities.

(g) Signature of both the parties to accept the contract.

(h)If there is any involvement of the Solicitor, signature & address of the lawyer firm.

(i)  Signatures of the witness in order to validate the contract.

(j)  Place and date of renter contract registration.

Both the parties can keep a copy of the renter contract, whereas the original copy is kept by the lawyer or by the property owner.

Leave a Reply

Your email address will not be published. Required fields are marked *