Tenants must keep their copies in a safe place in order to return them, if necessary, throughout the lease. Some managers or landlords may charge the tenant an additional copy of the rental agreement. With the help of real estate management software, copies of a rental agreement can be stored online and shared with tenants to access it at any time on a tenant portal. Delhi has many popular residential areas like Mayur Vihar, Dwarka, Chanakya Puri, Noida, Civil Lines, etc houses are in high demand. When setting up the lease, it is very important to include certain important clauses in the contract. Some important clauses that should be included in the rental or rental file are listed below: To reduce costs, tenants and landlords sometimes verbally agree on the tenancy agreement and avoid the execution of a tenancy agreement. At one point, they also document the agreement and set the terms of the lease, but decide not to register the document. This is due to the fact that both parties must pay a registration fee when a lease is entered into and registered. The lessor is also required to declare his rental income as soon as the lease is final. However, entering into a non-registration lease is illegal and could be a risky transaction for both parties, particularly in the event of future litigation.
While this article explains the gritty nitty of the lease procedure, now you can make your agreement and get it delivered with the stamp paper.