Rental agreement

To formalize the home renting process, it is essential for a tenant and a landlord to document their verbal agreement in writing and get it registered to ensure legal validity. This document, known as the rent agreement or rental agreement, is crucial as verbal agreements hold no legal weight. Without a duly executed and registered rent agreement, neither party can seek legal recourse in the event of a dispute. According to the recently passed Model Tenancy Act 2019, states can establish rent authorities in cities, where landlords and tenants must register their rent agreements.

A typical rent agreement outlines the details of the tenancy, including the names and addresses of the tenant and landlord, the duration of the tenancy, the monthly rent, responsibilities for property maintenance, penalties for default, and other relevant terms.