Lease Agreements
A lease agreement defines the terms and conditions between a landlord and tenant for the rental or use of property. It ensures clarity on rent, duration, and responsibilities of both parties, protecting their rights under a legal framework.
Types Of Lease Agreements
Lease agreements are categorized based on the property type and leasing purpose.
Residential Lease Agreement
For rental of homes, apartments, or housing units for personal use.
Commercial Lease Agreement
Covers offices, shops, or industrial spaces leased for business purposes.
Long-term Lease Agreement
Typically extends for 5 years or more with specific renewal clauses.
Short-term Lease Agreement
Used for short occupancy or temporary arrangements.
Sublease Agreement
Allows tenants to rent the property further under defined conditions.
Lease with Option to Buy
Tenant can purchase the property during or after the lease.
Why Lease Agreements Is Important?
Legal Protection
Ensures both landlord and tenant have clear legal rights and duties.
Customized Drafting
Tailored agreements as per property type and duration.
Rental Clause Inclusion
Defines payment schedule, maintenance, and renewal policies.
Registration Assistance
Covers stamp duty calculation and registration with relevant authorities.
FAQs
What is a lease agreement?
It is a contract allowing one party to use another’s property for a defined period under certain conditions.
Is lease registration compulsory?
Yes, for leases exceeding 11 months or as required by local property laws.
What happens if lease terms are violated?
Either party may terminate or seek legal remedy as per agreement terms.
Can a lease be extended?
Yes, through renewal or extension clauses mentioned in the agreement.
What documents are needed for registration?
Property proof, ID verification, and stamp duty payment receipts.