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How do I make my house a rental agreement?
Draft a deed and verify its contents.
Prepared document must be then printed on stamp paper of recommended value.
Signatures of the landlord, tenant and witnesses must be placed in appropriate places.
Why rent agreement is for 11 months?
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. The stamp paper can be in the name of the tenant or the landlord.
How do you draw up a rental agreement?
The names and addresses of both parties;
The description of the property;
The rental amount and reasonable escalation;
The frequency of rental payments, i.e. monthly;
The amount of the deposit;
The lease period;
The notice period for termination of contract;