Flat/Apartment Rental Agreement

Renting an apartment has pretty much the same formalities as renting an individual house. But the contract is where all the difference lies. As you may know, a rental agreement or lease is a contracted between the landlord and the tenant through which a landlord grants tenancy to the latter.

Flat rental deeds are not used in the case of individual houses. They are used when someone wishes to rent out a single unit in an apartment complex. Such rental agreements have to be drafted with care, with clauses for access rights to common amenities and the rules of the residents association. Ideally, draft the agreement a few weeks before you move in. That would give both the landlord and the tenant to make changes should they feel so.

Any person who wishes to take part in a rental transaction can use a rental agreement to lay down the rules and duties. As long as you are 18+ years old and of sane mind, you can be either tenant, landlord or witness in a contract.

You may want to take a look at some common terms used in a rental agreement-

Lessor: Often the landlord or the individual who is granting tenancy.
Lessee: The tenant or the person who receives tenancy.

Although rental agreements may be available online, they may not always be expert verified or comprehensive enough to cover all your needs. Hence, we strongly recommend that you use LegalDesk.com or any other professionally prepared document to make your agreement.
How to make it legally valid?

Like every other contract, a flat rental agreement too must have some basic clauses in place and some important entities to make it legally valid.

    Names, signatures and addresses must be mentioned without errors
    The deed must begin with the name and address of the tenant and landlord being stated.
    The address of the apartment that is being rented out too must be mentioned clearly, without mistakes.
    The signatures of the tenant, landlord and two witnesses must be placed clearly on the last page along with their full names.
    To make the document legally valid, it must be printed on stamp paper of recommended value.

If you miss even one of the above, there could be consequences that are unpleasant. Irrespective of whether you are a landlord or a tenant, a good rental agreement is vital to protect both of you should a dispute happen.

We hope you are convinced about the need for a professionally verified rental agreement for a flat. Try to avoid reusing the same deed you prepared for your previous rental home.

Name : MANISH G VARMA

Law Firm Name : MGV & ASSOCIATES

Country : India

City : Mumbai

State : MAHARASHTRA

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