A written lease is very important in modern times. It serves as protection for both the landlord and the tenant. The agreement is an important proof that establishes the owner as the owner of the property. On the other hand, it offers the tenant protection against illegal financial claims. It also prevents the exclusive possession of the property by the tenant for the duration specified in the contract. In a scenario where the landlord does not take a deposit as an advance, this prevents the tenant from requesting an illegal refund. The agreement must include details of the notice period that must be indicated before the eviction of the property. It should also cover the period during which the tenant must inform the lessor of the renewal of the lease. In this blog post, Haridya Iyenger, a student, Jindal Global Law School, Haryana writes about what a lease is and what the essential terms of a lease are. Decide whether or not to automatically renew the lease. If you decide to automatically renew your lease, you must indicate that you or the tenant must terminate in writing within a certain number of days if the lease is not renewed at the end of the rental period. In this case, the lease would remain in place and would be automatically renewed until one of you submits a notice of termination to prevent the renewal of the lease. If your tenant decides to stay and you want him to stay, nothing should be done because the lease runs until one of you terminates it.
If there are common areas that are located around the rental unit, the lease should describe exactly which areas are considered “common areas” and what responsibility tenants and landlords have for the maintenance of those areas. – The owner may terminate a license at any time. It is automatically terminated after the death of the licensee. If it`s not managed properly, renting a home could become a big deal. This problem can be avoided by leases, which is common in the Western world, but surprisingly still uncommon in India. The lease should include some sort of provision explaining how a tenant can report maintenance issues or repair needs to the landlord. A provision that describes how a tenant must notify the landlord protects not only the landlord but also the tenant. Through a specific system, the landlord can ensure that all repair requests are received on time, leaving little room for doubt as to whether or not a tenant has reported a problem.
Similarly, a system described in the lease can protect a tenant by providing a way to ensure that their problems are received by the landlord, and also provides the tenant with a way to prove that the landlord was informed of the problem should the problem ever be brought before a judge. The lease should specify who is responsible for pest management. In some cases, an infestation of certain pests can pose a risk to the health and safety of tenants. In this case, it is often the landlord`s responsibility to put the rental unit in a safe state. These are the dates for which the rental agreement is valid. You should provide specific dates and avoid terms and conditions, such as . B that the lease is valid for six months or that the lease is valid for one year. As a landlord, it is important that you know your local laws when setting up your lease.
The reason for this is that if you include a clause in your lease that violates the law, it will not hold it in court. Even if you and the tenant have signed it, your lease is not valid unless it complies with the laws of your state, county, and city. This section mentions the amount of maintenance that the tenant pays to the company. The beneficiary of the maintenance amount must be named here. Any additional repairs such as major and minor repairs should also be mentioned here. .