An island of coral atolls, the smallest Union Territory of India, the Lakshadweep has a unique charm in itself. This isolated group of islands is perfect for a relaxing vacation. There are islands exclusively dedicated to diving and water sports. You could be an adventurer or a Navy man planning to settle in the Lakshadweep islands but finding it hard to come up with a Rental Agreement in an unknown land. Yet the happy news is that we offer you an easy way!

What Is A Rental Agreement?

A Rental Agreement is a legal document that is signed by the tenant and landlord putting down the essential clauses for tenancy. It ensures that there are no confusions arising between the two parties in future. It has to be drafted precisely with the details that are discussed between the two. Both the parties should make sure their interests are protected. If you are a tenant or a landlord trying to rent or lease a property, we recommend you go through the right procedure to avoid any trouble in future.

Procedure To Be Followed For A Rent Agreement In Lakshadweep

You can use our easy 4-step way to make a Rental Agreement in Lakshadweep.

• First step is the discussion between the Landlord and Tenant on various items to be included in the Rent Agreement.
• Second step has to be the drafting of all the discussed points on a Stamp paper.
• The third step has to be the signing of the Rent Agreement by two parties in the presence of two witnesses.
• The fourth and final step is the registration of the document in a Sub-Registrar office.

What Should Be Discussed Before Signing A Rent Agreement?

Whether you are a tenant or a landlord, it is crucial that you secure your interests. Here are some things you need to keep in mind while the deliberations are on. Later, these items are to be added in the Rent Agreement as a proof.

• Rent amount: The most important thing in the list is the Amount of Rent that has to be paid by the tenant to the landlord. Apart from that, the due date of Rent Payment as well as the amount of fine for late payment has to be mentioned by the landlord and duly agreed by the tenant while discussing.
• Duration of Tenancy: There are different types of Rental Agreements which are practiced across India. The tenant and the Landlord must choose the preferred Rent duration and draft an agreement accordingly. Often called as the lock-in period, there should be a clause which mentions about the minimum time before which neither parties can terminate the agreement.
• Security Deposit: Commonly called as the advance amount, it is an amount paid by the tenant to the landlord initially before occupying the property. This is a precautionary amount collected by the landlord if in case there are any damages caused by the tenant to his property.  This should be thoroughly discussed between the two parties.
• Preferences of the Landlord: There are certain conditions the landlord may put forward to the tenant before renting his/her space. For eg: the landlord may not be comfortable with the tenant using non-vegetarian food or there can also be a limit to the guests the tenant can host at his property. Such clauses have to be clearly mentioned in a Rent Agreement and accordingly agreed by the tenant.
• Pets: Some landlords may not permit pets in their renting premises. In that case, landlord needs to convey this to the tenant and make sure he agrees while this clause goes into the Rent Agreement.

Stamp Paper In Lakshadweep

All the above mentioned clauses have to be printed on a stamp paper authorised by the Lakshadweep Island administration. Since Lakshadweep is not a well developed Union territory compared to other ones, it still follows the traditional stamp paper system rather than the electronic stamping.

Stamp Duty In Lakshadweep

To make a document valid, a stamp duty is levied on it by the government. A stamp paper of that recommended value has to be bought and the Rent Agreement has to be imprinted on it and thereby making it legal.

Governing Law In Lakshadweep

There are no specific Rent Control Acts as per the Lakshadweep Administration. It is because there are a very few housing difficulties and island migration is slender.

Make Rental Agreement Online For Lakshadweep Rentals

We at LegalDesk provide our users with a pre-drafted, legally verified, Rent Agreement for Lakshadweep. We take the responsibility of running your errand related to Rent Agreement. We guarantee you a hassle-free and simple Rental procedure. Click on the button below to access our pre-drafted Rent agreements and fill in your details. You also have the option of customising it according to your needs and we deliver it at your preferred address. We also offer many other business and personal documents and name change package as well! We wish you a happy stay in the lovely islands of Lakshadweep!