Among India's Top 100 Consulting Firm
Lowest Fees.
4.9 Customer Rating.
Rent Agreement for Commercial purpose or short term or long term rental agreements are used to lay down the terms and conditions before a space is rented out for commercial purposes. Any person who wants to set up a business in a rental property can use a commercial Rent Agreement. According to the Registration Act, 1908, the registration of a lease agreement is mandatory if the leasing period is more than 12 months.
(1) Relationship between parties.
(2) Liquidity.
(3) Legal compliance.
(4) Written
(1) The Commercial Rental Agreement would require to be printed on 'non-judicial stamp paper' or 'e-stamp paper,' which is accessible in each state. The value of the stamp paper would be contingent on the state in which it is implemented and the 'duration' of the Rent.
(2) Both parties should sign the Rental Agreement after printing the document on stamp paper or e-stamp paper, as applicable. Moreover, each party should hold a copy of the Commercial Rental Agreement.
(3) If the rental period is more than 11 months, then the Commercial Rental agreement would require to be registered. Both the lessor and lessee must go to the sub-registrar's office for the objectives of registration.
(1) The original proof/evidence of ownership or title of the property.
(2) Property documents such as Index II or tax receipt of the property to be leased.
(3) Two photographs of each of the parties and one of each of the witnesses.
(4) Copy of the address proof of both the parties and witnesses. Passport, Aadhaar Card, Ration Card, Bank Passbook or Driving License; any of them can be submitted as the address proof.
(5) Route map of the property leased out.
(1) What is Commercial Rental Agreement?
(2) What do you mean by security deposit?
(3) Does the commercial rental agreenent gives legal security?
(4) What is gross rental?
(5) What is net rental?
