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Caution and amount of chips: The contract must clearly state the deposit and what happens to it when you leave the premises. It should also mention the symbolic amount that the owner received from you. A commercial tenancy agreement is a formal letter between the owner of the property and the tenant. The landlord is a person who owns the property and tenant is the person who occupies the property on rent for the aforementioned period. All information about the property such as the rental of the property, the description of the property, the duration of the contract is mentioned in this letter. The tenant should read this letter carefully and discuss the issues with the landlord. The commercial lease agreement is concluded by LegalRaasta until a lease is registered, and it has no legal validity. It is in favour of both parties to draw up an agreement with certain conditions and to register it. After the lease is written, the owner should print it on stamp paper. As soon as the tenant and landlord sign the documents in the presence of two witnesses, they must report them to the sub-registry service after payment of the necessary fees.

Repairs: The agreement must mention who bears the costs associated with wear and tear. The rental or rental agreement is written on a stamp paper. There are 2 types of rentals in India, one is a lease that lasts at least 12 months. This is governed by the rent control laws enacted by the state government. The other type is a rental and licensing agreement of up to 11 months, which is not covered by rent control laws. See also: The main clauses of a tenancy agreement According to the provisions of the 2019 Model Rent Bill, landlords cannot apply a pre-fixed rent increase for the entire period for which a tenancy agreement was signed. For example, when the lease expires after 11 months, the lessor cannot increase the monthly rent during that period. It is only at the expiry of this period and the date of registration of the new lease that the lessor is legally entitled to proceed with an increase in the rate that does not generally exceed 10% of the existing amount.

In addition, the landlord must give the tenant three months` notice before increasing the rent under the bill. The bill also stipulates that tenants staying in a rental unit, as mentioned in the agreement, will be required to pay double the rent for the first two months and four times the rent in the following months.

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