The tenancy agreement should include the name and address of the landlord and tenant, the terms of the tenancy, the duration of the lease, the rent and the amount of the deposit, the restrictions imposed on both parties, the terms of termination of the contract, the terms of renewal and the indication of other costs, such as maintenance costs, repairs, etc. The bill also stipulates that tenants staying in a rental unit, as mentioned in the agreement, will be required to pay double the rent for the first two months and four times the rent in the following months. Until a lease is registered at the shelter, it has no validity. It is in favour of both parties to draw up an agreement with certain conditions and to register it. After the lease is written, the owner should print it on stamp paper. As soon as the tenant and landlord sign the documents in the presence of two witnesses, they must report them to the sub-registry service after payment of the necessary fees. Note here that notarized certified rentals are not identical to registered documents. In the event of a dispute between the landlord and the tenant, the court will not accept a notarized agreement as proof. It is therefore important to register the rental agreement correctly. See also: Compromise clause in leases and how it can help landlords and tenants to carry out repairs: the contract must mention who bears the costs associated with wear. Visitors: The agreement must contain a clause on who can visit you and when. Number of occupants: The agreement must indicate what happens if your family members come to see you in the future. In order to reduce costs, tenants and landlords sometimes agree orally on the lease and avoid the execution of a tenancy agreement.
At one point, they also document the agreement and set the terms of the lease, but decide not to register the document. This is due to the fact that both parties must pay a registration fee when a lease is entered into and registered. The lessor is also required to declare his rental income as soon as the lease is final. However, entering into a non-registration lease is illegal and could be a risky transaction for both parties, particularly in the event of future litigation. Information on lease provisions The Registration Act, 1908, requires the registration of a lease if the lease period is more than 11 months. Caution and amount of chips: The contract must clearly state the deposit and what happens to it when you leave the premises.