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New Delhi: Whenever a landlord gives his house or room on rent, he has to enter into a rental agreement. A rental agreement is an agreement between a landlord and a tenant.
It is a type of agreement in which rules are mentioned for both the parties. Both sides follow these rules. Today in this article we will tell you what things both the parties should keep in mind while making the rental agreement.
What Is A Rental Agreement?
Tenancy agreement is a type of agreement which has to be followed by both the landlord and the tenant. This agreement includes the terms of payment of house rent. Apart from monthly rent, security deposit, there are many other conditions in the rental agreement like the duration of the agreement.
Many tenants find the rent agreement a hassle, so let us tell you that if there is no rent agreement then the landlord can suddenly increase the rent or even ask to vacate the house. Also, he cannot do such arbitrariness in the rental agreement.
Also, if there is no rent agreement, the benefit of house rent allowance is not available. Yes, if you go to claim HRA you will need the rental agreement.
What should be in the rental agreement?
The rental agreement should have a fixed date for payment of rent. If the rent is paid late, the penalty amount to be charged should also be mentioned in the contract.
The rental agreement should specify when and by how much the rent will be increased.
Information about how much maintenance charges will be charged to keep the house in good condition and who will pay the water and electricity bills should be included in the rental agreement.
There should also be information about when the agreement will end.
If the tenant or the landlord has any objection to any of the terms of the tenancy agreement, he can get it corrected ahead of time. Additionally, both parties should read the rental agreement carefully before signing it.
What should be kept in mind?
Sometimes a landlord is worried that tenants may be taking over the house. Therefore, it is very important for the rental agreement to be registered. Unregistered rental agreements can also be misused. If the agreement is not registered then the tenant may refuse to vacate the house.
Similarly, if the tenant wants to add something to the agreement, he can talk to the landlord and add it to the agreement.