NRIs or non-residents of India have to spend many months or years abroad without paying a visit to their own property in India. Rental/Lease agreement provides a secure arrangement in case NRI did property investment and lending it to the tenant for a limited period of time. It is a legal document that can be useful tool in litigation.

1. How to Draft Rental/Lease Agreement?

2. What is Lease Agreement?
Rental agreement is a legal document that
binds the landlord and the tenant to comply
with the terms and conditions over which
both are mutually agreed.

3. How Many Types of Lease Agreements Are
There?
Two types of agreement:
 Rental agreement
 Lease agreement

4. What are the Differences Between Rental
and Lease Agreement?
Rental Agreement:
 Works on monthly basis
 No period is fixed.
 Can be canceled at anytime
 No notice is required for its cancellation.
 No need to pay amount of rental in all.

5. What are the Differences Between Rental
and Lease Agreement?
Lease Agreement:
 Works on half or yearly basis.
 A lease period is fixed.
 Tenant can never be evicted anytime.
 Prior notice is mandatory to cancel the agreement.
 Amount of lease is to be paid in lump sum.

6. Whom should we considered for drafting
rental or lease agreement?
 Legal advisor
 Advocate
 Magistrate
 NRI services provider, like S2NRI

7. What should be the content of lease
agreement?
 Name, address and father’s name of the landlord and the
tenant.
 For how long it will last? (Duration) Starting and date of
maturity of the agreement must be clearly stated.
 Specify the mode of payment, i.e. either cheque or cash.
 How much interest to be paid if the payment cheque bounces
or it goes outstanding for many months?
 Inclusion of utility bills, such as electricity bill, water bill,
phone bills etc.

8. Continue….
 Maintenance charges included and the amount for
maintenance.
 Deposit security amount in the beginning month along with
the rental amount or the wholesome payment in case it is
lease agreement.
 Penalties to be imposed if violated the terms of the
agreement.
 Signature of both parties along with the self-attested photos.
 Police verification.

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