How To Create Rental Agreement In Daman And Diu?<!- author name and link for post -->
Daman and Diu is a union territory on the western coast of India. It has been one of the famous tourist destinations in India due to its rich history, pleasant climate and beaches. With tourists blooming in both the districts, the territory formerly colonized by Portuguese has been a land of opportunity and tourism. It is also a popular residential destination for people of Portuguese origin and others drawing more number of foreigners and nationals in need of renting property. To fulfill the need, LegalDesk.com has a platform where you can create Rental Agreement anytime from the comforts of your home.
Why Rental Agreement?
To those of you who are new to it, Rental Agreement is a pact adopted by the landlord and the tenant in which the terms and conditions of the use and occupancy of the premises are embodied. The old way of Rental Agreement was tedious and complicated as it took a lawyer to explain the terms of it to the people who were not aware. The pact is made for permanent and temporary settlers as a proof of the agreement between the two parties (tenant and owner). Nowadays, with LegalDesk.com’s aid, creating a rent agreement is much easier and less time-consuming.
Procedure To Create Rental Agreement In Daman And Diu
The procedure for creating a Rental Agreement is as given below-
- Fill in the details of the landlord, tenant and property in the rent agreement form and download it.
- Pay the stamp duty levied on the agreement through buying a stamp paper.
- Print the draft of the agreement on the stamp paper.
- Get it signed by the owner, the tenant and two witnesses.
- Register the agreement in the local Sub-Registrar office.
Stamp Duty And Registration
You need to pay tax to the government in order to make your Rental Agreement legal. You can pay the tax here by purchasing stamps. You also need to register your Rental Agreement in the Sub-Registrar office that is also charged by the government.
Stamp papers were used before but e-stamping was made mandatory in Daman and Diu districts since 2012.
The fees for stamp duty and registration in Daman and Diu are given below.
|Stamp Duty||3.5% of the total worth|
|Registration||1% on the amount of rent of which stamp duty has been assessed|
Also, one should not forget to get the rent agreement registered as unregistered documents might not be accepted as primary legal evidence.
What Should You Include In Your Rental Agreement?
- Name And Limits Of The Occupants – The names of the occupants who have signed the agreement should be clearly specified. It is the right of the owner to determine who and how many of them live in the property.
- Rent And Deposit Fees – Include the rent and the total deposit fees paid. The landlord charges deposit fees for security and various purpose. It is to make sure that he can take care of the damage inside his property and security.
- Rental term – The tenure of tenancy is a major requirement of keeping the agreement to an effect as the tenure of agreements might vary depending upon the type of rent. Know that some landlords often opt for an 11-month residential agreement to avoid rental control laws. So before accepting the term study the agreement paper carefully.
Regulations And Restrictions
- Pets – As some of the landlords might not allow owning pets, it is necessary to include pets too in the Rental Agreement. The landlord must be clear in the agreement whether he would allow pets or not.
- Regulations – The tenant and the owner can agree on certain regulations that would be applied. The landlord can charge the tenant if he delays in payment or if he stays more than the date up to which the tenant has been granted permission.
- Restrictions – An owner is free enough to avoid trouble in his property. He can restrict the tenant from excessive noise and other illegal activities and also limit business and other activities that a tenant wants to.
After the agreement is drawn between both the parties, each party is responsible for the task they are held responsible for like the tenant maintaining his environment clean. The owner should be responsible for any damage that not of the tenant and the tenant should be responsible for the property damage done by him. The tenant is also supposed to strictly follow every rules and regulation included in the Rental Agreement.
Types Of Rental Agreements
- 11-Month Agreement – It is the most common type of rental agreement usually done for residential purposes. The agreement can be renewed at the end of the term or after 11 months of the actual agreement by both tenant and landlord if they want to.
- Commercial Lease – It is a contract signed between a landlord and business or among business enterprises for renting a property. Due to the involvement of business and large sums of money, it is different than residential agreements and requires less capital according to the norms and laws of the agreement.
- Long Term Lease – A lease for a period longer than 5 years is a long term lease. A long-term lease involves payment of an equivalent amount of money worth the property in advance which a tenant receives back after the end of the term.
Read the agreement carefully and understand it before you sign because your rights usually depend on what is written in the Rental Agreement.
Creating Your Documents Online
Like many online legal documents, Rental Agreement can also be made online and is being used more these days because of its simplicity and user-convenience. Creating a rental agreement online is quiet easy and relatively inexpensive. Traditional methods require lawyers who might charge you more than usual. This is not the only problem, you might have to redo the entire document (hard copy) if there is a slight mistake. But, when you apply online you can add or edit the clauses that you want to without any difficulty.
So, why not get a rental agreement online? At LegalDesk.com, you can draft your own Rental Agreement from the comforts of your home and also include clauses you want to. You need not go through the tedious traditional process of making a rent agreement. You can start with the making of rental agreement by filling in the details in the customisable form that opens once you click this button.