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Lease, Tenancy and House Rent Agreements

What are lease, tenancy and house rent agreements and how to negotiate them. Transfer of the right to use the property. For a specified period/for perpetuity Can’t evict the leaseholder while the lease is in existence unless termination provision. Find out who is the actual owner It is crucial that a leave or license or lease agreement is signed only with the real owner of the house.

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Lease, Tenancy and House Rent Agreements

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  1. What are lease, tenancy and house rent agreements and how to negotiate them Pranav Pandya, Franchise Development Manager, RE/MAX Gujarat

  2. Lease • Transfer of the right to use the property. • For a specified period/for perpetuity • Can’t evict the leaseholder while the lease is in existence unless termination provision.

  3. What if a lease leads to a tenancy?

  4. Leave and License

  5. Advantage of leave and licence

  6. How to ensure an effective lease deed or leave and license agreement? • Find out who is the actual owner • It is crucial that a leave or license or lease agreement is signed only with the real owner of the house. • It is more difficult to trace ownership of agricultural land • If the person leasing the property is not the owner of the land, find out if he has the authority to lease it.

  7. Renting out mortgaged property • Term of the agreement

  8. Termination clause and notice period • Most property related disputes between landlord and occupant usually take place over termination and eviction. • long notice periods and lock in periods • One month and three month notice period are most common in India

  9. Important Clauses • Lock in clause • Sub-letting clause • Payment clause • Increase in rent clause • Guarantor Clause • Maintenance/association charges clause

  10. Important Clauses • Wear and tear clause • Clause for furniture and fixtures • Clause on associated facilities and amenities • Security deposit clause • Repair works during occupancy

  11. Important Clauses • Wear and tear clause • Clause for furniture and fixtures • Clause on associated facilities and amenities • Security deposit clause • Repair works during occupancy

  12. Important Clauses • Clause for tax liability • Dispute resolution clause • General nuisance clause • General points of concern regarding leasing or renting of any nature

  13. Thank You

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