rent agreement is necessary
A rent agreement entails all the terms and conditions under:-
Firstly, It includes the details of all Two parties involved in the transaction.
Secondly,After Carefully reading the agreement tenant Should Sign.
Thirdly, and most importantly, However most tenants do not pay much attention.
Moreover, they are not aware of the legal points that should be incorporated in a rent agreement.
In conclusion, It is this lack of scrutiny that creates legal issues between tenants and landlords.
Landlords will be unable to make deductions from tenancy deposits. … If there is no tenancy agreement therefore, But Tenant must inform 1 month Before they Leave the Premises then there is no authority for the landlord to make any deductions from the tenancy deposit – no matter how dreadful the condition of the property when the tenant moves out but any any Major damages Tenant Bear the Amount.
Rent may be payable monthly, annually, or in advance, or as otherwise agreed. A typical arrangement for tenancy at will is “first and last month’s rent” plus a Security deposit. The “last month’s rent” is rent that has yet to be earned by the landlord.
Most rent agreements are signed for 11 months so that they can avoid stamp duty and other charges. According to the Registration Act, 1908, the registration of a lease agreement is mandatory if the leasing period is more than 12 months.