Rent agreement Rules

Rent agreement Rules : A rent agreement is a statement between the landlord and the tenant regarding the rent, the condition of the house or property and the termination of the agreement. If the rent agreement is made for 12 months or more, then this thing often goes in favor of the tenant.

Rent agreement Rules : New Delhi, If you have ever been on rent, then the rent agreement must have been made. Landlords often get rent agreements made for only 11 months. But have you ever wondered why it is not one year old? If not, then we will tell you why the rent agreement is not made for 12 months.

Rent agreement is a written agreement between the tenant and the landlord, in which the concerned house, flat, room, area etc. is given to the tenant for a stipulated period. This agreement contains details of the rent, condition of the house, address and the terms and conditions relating to termination of the rent advance.

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Why only 11 months rate agreement?

This is done because under the Registration Act, if any property is given on rent or lease for a period of 12 months or more, then that rent agreement or lease agreement has to be registered. To avoid the hassle of this paperwork and expenses, the rent agreement is made for only 11 months. It should be noted that in agreement registration, along with the registration fee, stamp duty is also levied. At the same time, there is no such compulsion in the rent agreement of 11 months.

Rent under the purview of Rent Tenancy Act

The rent paid by the tenant to the landlord by making a rent agreement for more than 11 months comes under the Rent Tenancy Act. The tenant can get the far-reaching benefit of this. Actually, after coming under the Rent Tenancy Act, if there is a dispute regarding rent and the matter reaches the court, then the court has the right to fix the rent and then the landlord cannot charge more than that. This often goes in favor of the tenant.

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Stamp duty and other charges

If the lease is for five years of the agreement, then the average amount of rent for the same number of years attracts stamp duty at the rate of 2 per cent. If security deposit is mentioned in the agreement, then Rs 100 more will be charged. At the same time, if the rent agreement is for more than five years and less than 10 years, then 3% stamp duty is levied. Lease agreements of more than 10 years but less than 20 years attract 6% stamp duty. Apart from this, a registration fee of Rs 1,000 is also levied.

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