Rental / lease agreements drafting
A clear, legally binding rental/lease agreement is the basis of a happy relationship with your tenant. This needs to be executed with foresight and care.
- Before a tenant moves in, a tenancy agreement needs to be completed, which sets out the key things the property owner and tenant agree to do.
- We will draft the rental agreement, keeping your interests in mind. In case you cannot be present, we will provide the necessary paperwork for a limited/specific power of attorney (to a member of your family), who can sign on your behalf. In such cases, Power of Attorney adjudication and lawyer fees applicable for NRIs, if any, will be billed extra at actuals.
- We will then detail to the tenant the legal issues applicable and his/her responsibilities as a tenant.
- We will execute the rental agreement with the tenant with a very clear understanding of the following points:
- Rental amount and the security deposit.
- Payment date.
- Duration of lease along with escalation clause.
- Proper maintenance of the property and all inventories provided.
- Limitations, restrictions and responsibilities of the tenant.
- Consequences of non-payment of rent on time or extraordinary wear and tear of the property/inventory.
- Member and tenant must sign the agreement, and the member must give the tenant a copy before the tenancy begins.
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