Arunachal Pradesh is one among the fastly growing states in the country. The Gross State Domestic Product rate of the state is considerably high. The economy of the country is primarily agricultural driven with favorable geographic and climatic conditions aiding it. If you are one of the migrants of the state and is looking for a peaceful place to reside in, you’d want to set up a rental agreement. It is much simpler with the assistance of LegalDesk.com.
Given below are certain guidelines that you’d want to follow while drafting your contract
What Is A Rental Agreement?
A lease agreement is a contract signed between the owner and the tenant whereby the landlord gives his consent to the tenant to reside in his property. There are three types of rental agreements. They are as follows-
- 11-month agreement: An 11-month agreement is a short-term contract which expires after the given term. The agreement can be extended if the landlord and the tenant wish to do so.
- Long-term rental agreement: This kind of rental agreements have the validity of a very extended period as specified in the drafted document. A long-term lease agreement is usually for residential purposes.
- Commercial rent agreement: This is mainly used for business purposes, and the agreement can be personalised by adding relevant clauses as per the requirement of the firm. This deal is set up by paying a lump sum amount of cash in the beginning.
Essential Clauses One Ought To Remember While Creating A Rental Agreement
The rental agreement once signed cannot be changed unless it is followed by a correction deed. Hence, it is necessary to see that the agreement has covered all the areas of concerns and interests of both the landlord and the tenant. It is crucial to mention all the areas of interests so as to prevent any dispute that might arise in the future. A few important clauses to include in a rental agreement are mentioned below.
- Accurate details: The information given by the landlord and the tenant should be best to the knowledge of both the landlord and the tenant.
- Lock in period: It is the minimum time limit before which neither the landlord, not the tenant are allowed to withdraw the contract.
- Security deposit: This is the amount that is paid by the tenant to the landlord at the beginning of the agreement. The security deposit serves to protect the landlord if the tenant breaks or violates the terms of the lease agreement. It may be used to cover the damage to the property, cleaning, key replacement or back rent.
- Penalty charges: The landlord is allowed to impose a small amount as a penalty if the tenant does not pay the rent within the stipulated time.
- Maintenance charges: The landlord is accountable for the payment of all maintenance charges unless specified otherwise in the agreement.
- Rent payment: The landlord can mention a specific date within which the rent has to be paid every month.
- Pets: The landlord can mention if he permits pets inside the premises.
- Parking facility: The agreement can specify if the landlord provides the tenant with parking facility.
Laws Governing The Rental Agreement In Arunachal Pradesh
The Arunachal Pradesh Public Premises (Eviction of Unauthorised occupants) Act, 2003, is the main law governing the setting up of a lease agreement in Arunachal Pradesh.
Procedure For Setting Up A Rental Agreement In Arunachal Pradesh
Creating a lease agreement is very simple. Keep the following rental agreement procedures in mind while doing so.
- Draft an agreement with accurate details of the landlord, the tenant and the property to be rented.
- Personalise the agreement by adding necessary clauses.
- Print out the agreement on a stamp paper of the recommended value.
- The document is to be signed by the landlord, the tenant, and two witnesses.
- Take the agreement to a sub-registrar office and get it registered.
Registration Of Your Rental Agreement
Registering the lease agreement is always better because while doing so, the details given are enquired and validated. This ensures that the document is forge free and also helps in case a dispute arises. Anyhow, 11 months rental agreements are preferred more over the long term rental agreement because, in that case, registration is not mandatory.
Stamp Duty For Rental Agreement In Arunachal Pradesh
It is the tax that is levied on legal documents usually in the transfer of assets or properties. This is done in order to make the document legally valid. The text is printed on a stamp paper of the recommended value.
E-stamping is a method introduced by the government to ensure the prevention of fake and duplicate stamp paper. This system has been introduced in many states. But, unfortunately, e-stamping is not available in Arunachal Pradesh.
Is Notarization A Necessity?
Notarization is not mandatory in India. Notarization does not make the document legally valid, but instead it just provides an extra verification of the details given in the contract.
How To Make A Rental Agreement Online
Creating a lease agreement is a tiresome and tedious process. Now, you can make a rental agreement online in the flick of a second with the help of LegalDesk. Follow the given steps given below.
- Visit LegalDesk.com and view our ready to customise, lawyer verified rental agreement online.
- Fill in the details of the landlord, the tenant and the property to be rented.
- Personalise the document by adding necessary clauses.
- Print the document on a stamp paper of the recommended value or allow us to do so and send it to you at your address.
We also provide assistance with several other legal documents. If you have any queries, please do visit our page and mail us at firstname.lastname@example.org.