Secure Your Space: Defining rent agreement and sample formats
Whether you are a tenant or a landlord reading all the terms and conditions of a rental agreement would have a major say. The rent agreement could vary depending upon the purpose for which you have decided to rent out a space or get one for yourself. Sometimes, some landlords prefer to skip this formality when renting you an office space. However, make sure you don’t agree to this as it could mean trouble afterward. Therefore, in this article, we have tried to explain the process behind rent agreement and the complexities surrounding it.
What do you mean by a rent agreement?
A rent agreement defines multiple terms and conditions subject to a legally binding contract between a tenant and landlord. The importance of a rent agreement is huge in preventing quarrels or disputes between parties involved in it. It also defines a framework for resolving any disputes between the parties in utmost legal manner.
List of terms and conditions included in the rental agreement
Here is a comprehensive outlook of terms and conditions that are added to a rental agreement in office space for rent.
• Description of parties in rental agreement
Talking about rental agreements must have full details of the parties involved alongside their names, addresses, and functional contact numbers.
• Details of property given out in rent
The rental agreement should contain the details of the property that has been rented to the tenant. From its address, features, furniture, and type of property i.e., residential or commercial included in the agreement.
• Duration of lease agreement
When agreeing to a rental agreement, you must check the start and end date mentioned in the lease. This lease period could vary depending upon the purpose for which a certain space is rented.
• Details of rent
Within the details of rent, the monthly rent should be specified the date on which it needs to be paid, and the mode of payment followed for completing the payment.
• Security deposit
The amount that is paid by a tenant when signing up for a rental agreement is defined as the security deposit. Remember, the tenant must pay it in full for commencing the period of rent.
• Maintenance charges
The office space for rent in Dehradun should specify the charges for maintenance so that the tenants can pay the due amount in the required time.
• Special clauses
Some rental agreements are said to have some special clauses included in them that you must check out before agreeing into one. For instance, find out about the pet’s policy to understand whether there are any specific restrictions in place against certain pet animals.
At the same time, you should also look out for a guest policy from where you can check how many guests are allowed and the period for which they are allowed to stay with additional charges.
• Resolution of disputes
Clearly defined procedure of resolving disputes between the parties in rental agreement through arbitration.
• Obligations of landlord and tenant
Each party involved in the rental agreement is specifically obliged to follow certain responsibilities towards their office space for rent.
• Signatures
Ensure everyone signs the rental agreement for legally binding it between both parties. Moreover, it should also be stamped by legal authorities to make it enforceable.
Documents required for completing the rental agreement
Proper documents need to be presented by each party for completing the rental agreement without any faults. By checking out our website wfecity, you find out in detail about the documents required to complete the rent agreement. Or, you can also go through the points below to save some time and effort that goes into researching.
• Original rent agreement papers
Ensure the rent agreement papers are original and mutually agreed upon by the two parties.
• Passport-size photos
Each party should bring their passport-size photo for sticking onto the rent agreement. This would help in identifying the individuals involved in your agreement.
• Identification proof
Remember, to be present with your identification proof which could be a PAN card, Aadhaar card, driving license, Voter ID, or passport. Either of them could work as per the requirements defined in the rental agreement in office space for rent.
• Address proof
Alongside your identification proof, you should also carry valid address proof like utility bills, tax receipts, and other documents that validate the ownership of your rented space.
• Bringing witnesses
When signing the rental agreement, there must be two witnesses present on the scene. Additionally, bring the documents necessary as per the rental agreement between both parties.
• Paying stamp duty and registration charges
Finally, you need to pay the stamp duty and registration charges as required to complete the rental agreement.
Conclusion
Both parties need to comprehensively understand the rental agreement format. Hopefully, this small guide has provided you with the details related to drafting your own rental agreement.
Or, ensure certain terms and conditions are defined in the agreement to avoid disputes and misunderstanding. For more information, you can check out wfecity which specializes in explaining rental agreement formats related to renting office space for rent in Dehradun.
