It is worth mentioning when and how the contract can be renewed, what the rent will be at the time of renewal, whether there are provisions for renegotiated rents and so on. Even in cities like Mumbai, in the initial agreement, real estate agents put in clauses regarding the payment of brokers at the time of renewal. Discuss this clause and find out in advance how much of the brokerage will be for the extension and who will pay for it. Also clarify the prohibition period during which neither the tenant nor the landlord can terminate the contract and make sure it is also mentioned in the contract. «The agreement should clearly mention the consequences of the termination by one of the parties before the end of the lockout period,» said Rajat Malhotra, a partner at Laware Associates, a Delhi-based law firm. As a general rule, if the tenant has to evacuate the house before the end of the prohibition period, the deposit is cancelled by the landlord. If the landlord wishes to evacuate the house before the expiration of the prohibition period, he must compensate the tenant in addition to the actual repayment of the deposit by paying an amount equal to the deposit. To register a rental agreement, you would have to pay a fee such as stamp duty and registration fees. The fees are usually shared by tenants and landlords, but mention this in the agreement.
In addition, people who have fees, such as legal fees or brokers, should be clear. Owners usually keep the original copy of the lease, but you still need to keep a copy. More than 300 partners use Digital Renting to register their client`s rental contracts on their doorstep! We are the backbone of your practice. Digital Renting is a software service provider. This is a salary that you use model with a monthly subscription. We combine technology, the latest government e-initiatives and gateway services to provide a problem-free experience. We make regular compliance as extremely simple and convenient lease registration. What`s great is that your customers receive these services at low and transparent fees at your doorstep. Customers can serve their customers with digital renting as a backbone.
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