The second least populated state in India with 91% forest area, Mizoram is a transit point of trade with Myanmar and Bangladesh. It is also a hub of horticulture and floriculture. You could be a florist, horticulturist or a trader who has found a Rented house in Mizoram, we assist you with drafting a personalised Rental Agreement.
What Is A Rental Agreement?
A legally binding settlement which is drafted during renting a house is a Rental Agreement. If in case of any dispute arises, a Rent Agreement with the consent of both the landlord and tenant will help in solving it with less chaos.
Categories Of Rent Agreements
Commercial Rent Agreements: When a businessman is in need of renting a space for his business purposes, an Agreement borne out of such a situation is a Commercial Rent Agreement. Usually, these agreements are long-term Rent Agreements with customised clauses.
Long-term Rent Agreements: A Rental Agreement usually for residential purposes for a long span of years; 1-5 years, 5-10 years or 10-15 years and so on. In these Rental Agreements a huge sum of money is paid initially, thus there is no month-to-month payment.
11-month Rent Agreements: These Rental Agreements are often taken up by students who wish to stay for a lesser time and hence prefers to not register it. If the landlord and tenant wishes to renew it, they can do it after the end of eleven months for an extended time.
Essential Steps For Finalizing A Rent Agreement
There is a specific way of setting up a Rental Agreement between the two parties. That involves the following procedure;
- A document between the tenant and the landlord has to be drafted with all necessary details of the same.
- An elaborative discussion on the clauses has to be done between the tenant and the landlord before printing it in a stamp paper.
- The Agreement has to be printed on a stamp paper after personalization of clauses.
- The Rent Agreement is then signed by both the parties in the presence of two witnesses.
- The two witnesses should also sign the document before taking it to the Sub-Registrar.
- The finalised Rent Agreement is then presented to the Sub-Registrar and registered.
Stamp Duty In Mizoram
A Stamp Duty is a the tax levied on a document for making it legally viable. This is done by buying stamp papers of value set judicially and imprinting the legal document on it.
Stamp Paper In Mizoram
Unlike many other states in India, Mizoram has not yet adopted e-stamping procedures. Hence, the traditional Stamp Papers are used widely in all agreements.
The Law that Governs all about the Rental Procedures in Mizoram is The Mizoram Urban Areas Rent Control Act, 1974.
Critical Details For The Rental Agreement For Mizoram
There are certain details in the Rental Agreements that should be included before finalising it, which are;
- Names of Tenants: When in case of many people living under the same roof, it is mandatory to mention all the names of tenants in Rent Agreement so that all of them are responsible to the Rent Agreement. It should also specify on certain terms such as movement of relatives or friends into the house.
- Rent Payments: A specified amount of rent that has to be paid should be mentioned in the Rent Agreement. Moreover, the method of payment, amount to be paid for late payment or if any grace period exists should also be included.
- Lock-in Period: There should also be a mention on the minimum months of occupancy before which neither the parties can cease the agreement.
- Restrictions on Illegal and Disruptive behaviour: The landlord and tenant has to clearly discuss what constitutes as a disruptive behavior in their settlement. If the Landlord does not entertain on loud noises or many people visiting the house, or dealing with drugs he has to clearly mention it in the Rental Agreement to reduce the possibility of a clash in future.
- Deposit Fees: The deposit you pay for security and other purposes is also to be included in the Rent Agreement.
- Pets: Some landlords do not allow for the entry of pets in the house. In that case, such a clause has to be mentioned in the Rent Agreement.
- Maintenance charges: The maintenance of the Rented Property has to be borne by the Landlord. But instead, several other payments such as the Electricity, water and other taxes has to be paid by the tenant. These terms and conditions have to be included in the Agreement to avoid confusions.
- Miscellaneous conditions: Details have to be prescribed regarding the usage of the parking area, common areas or whether the tenant can run a business in the rented property.
Create A Rent Agreement In Mizoram With Ease
We at LegalDesk.com provide you with Legally verified, personalized Rental Agreements for Mizoram. Just click the button below and fill in the details of the tenant and the landlord to start with your Rent Agreement. You can also customize the clauses according to your preferences. For further convenience we also offer you with the option of delivering it to your preferred address.