Rent & Lease agreement

Rental and Lease Agreements are important legal documents that confirm the deal between the landlord and the tenant based on mutual understanding. Usually, these agreements registered after the deal finalized between landlord and tenant, and it ensures both the parties protected under the Indian constitutional law.
It doesn’t matter if the landlords opt to rent or lease the property, there’s always a format to follow. We AKT associates strictly follow the rules set by Indian constitutional law when it comes to rent/lease agreement and makes sure both parties (Landlords and Tenants) understand the agreement fully along with the conditions mentioned in those agreements.

What is a Rental Agreement?

The rental agreement is a kind of contract written in-between the property owner and the renter who about to gain temporary ownership of the particular property. Rental agreements are short-term contracts mostly occurs on a monthly basis and get renewed often based upon the mutual understanding of both parties.
Rental Agreement mainly focuses on outline payment that the renter needs to pay the property owner on a monthly basis. In addition, the agreement will include a lot of terms and condition and the terms can alter by either party on every renewal.

What is Lease Agreement?

Unlike the rental agreement, the lease agreement is a long-term contract made in-between landlord and the tenant. The lease agreement will be effective until the specific time mentioned in the agreement beyond that the agreement considered as ended.
Lease agreement focuses not only on the payment instead it does focus how long the tenant intended to use the property/space. If both parties willing to continue the agreement after the agreement period, the new lease agreement needs to register.

Difference between Rental and Lease Agreement

When looked generally, both rental and lease agreements might be similar but both differ slightly. Rental and lease agreements have their own advantages and disadvantages. Below listed table illustrate the difference in-between those two agreements.

Terms and Conditions for Both Agreements

It doesn’t matter whether you are about to rent or lease property; there are certain terms and conditions to include. AKT associates mention them with the acronym WWWH (Who, What, When and How much).

• Who: Under this term details of the parties involved in particular contract get identified. Here the parties refer to the landlord/lessor and the renter/tenant/lessee.
• What: Under this term details of the particular premises that landlord/lessor agrees to rent/lease. It also includes conditions like how the premises should be handled by the renter/tenant/lessee during the rental/lease period.
• When: This term pinpoints the time duration of the rental/lease period for which renter/tenant/lessee can own temporary rights of the premises under specified conditions.
• How much: This term will elaborate the pay rates for premises rented/leased.

Things You Need to Look Before Signing Rental/Lease Agreement

• Both parties should cross-check whether they are engaging or transacting with actual owner/renter.
• Before signing lease/rental agreement, one should check with the sale deed, share certificate of the property along with the NOC (No-Objection Certificate) from the local area housing society.
• Make sure that your rental/lease agreement includes a clause on the sales of the house. So, that you can enjoy the legal protection for a certain period for searching for new accommodation if the owner decides to sell the property during your tenure period.

How AKT Associates can help you?

When it comes to rental/lessee agreement getting help from professional help would be a wise decision. In the digital era, seeking a legal documents portal is quite welcome. However, you may get baffled after witnessing several such online portals.
Are you confused and strongly decided to approach a legitimate and trustworthy site? Then it’s time to pick AKT Associates as your legal document assistant.

• Established with the motto of assisting modern-day people to avail their legal documents online.
• Get Your Rental/Lessee Agreement for affordable and competitive rate only from AKT associates
• Talk to our customer care support team for clearing your doubts