Rent agreement: Everything you need to know about it
Renting has developed into the finest alternative in a world where purchasing real estate is no longer an option unless you have saved for more than your lifetime. For those trying to rent their properties, those considering renting a property, and of course those seeking a means of habitation in a large metropolis, a rental agreement is essential. Now, what exactly is a rent agreement?
What is a rent agreement?
A rent agreement is a legal document that a landlord and tenant sign to start and control a tenancy. The terms and circumstances of the tenancy as well as every aspect of the two parties, the landlord and the renter, are included in the rent agreements. The rules outlined in the rental agreement must be adhered to by both parties. The tenant is required to sign a rent agreement when engaging into a renting arrangement with a landlord in accordance with the proposed Model Tenancy Act of the union government (all states must base their draught rental legislation on this Act). The terms and conditions that will be binding on both parties must be included in the rental agreement.
Tags: Rent Agreement, Rental Agreement
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