As per the rental act, Its mandatory to have a registered rental agreement. In past notarized agreement was prevalent. But it was not full proof having high chances of manipulation and fraudulent practices. Hence it is important to have a document properly registered with the government authorities to safeguard the interests of both the parties.
We provide a complete rental agreement service and ensure you are compliant as per the law. Even if you are not in the current city, or located outside of India, we have provisions to help you complete the formalities
FAQ on Rental Agreement:
It a formal agreement between owner and tenant that list down the terms and conditions of the tenancy, safeguarding the interest of both parties during the term. It helps in avoiding any misunderstanding and protects the right of both. Its owner’s responsibility to ensure that there is a rental agreement in place.
Yes, it is online. We prepare the standard draft by once we have details of all the parties involved and rental T&C. It requires us to pay stamp duty and registration charges at the draft stage itself. All parties review the draft and provide their biometric authentication. It needs two witnesses and their biometric authentication as well.
The most important thing is you don’t need to visit the sub-registrar office where your property is located. With online registration, once all parties review the agreement, they can sign independently. It is not required for everyone to be present at the same time. This helps in getting the agreement done as per the convenience and even when you are located in a different city.
Yes. Maharashtra govt has provided an online registration facility for the same. It provides a standard template that incorporates around 14 different aspects like all party details, rental period, rent, deposits, maintenance charges, utility bills, property usage, alteration, sub-tenancy, inspection, cancellation, repossession, registration charges.
You can see a draft sample here.
Along with the standard clauses, there is a provision to add a miscellaneous clause that has a system limit of 1000 characters. The list of standard furniture items can also be mentioned as an annexure. All these clauses cover 99% of a standard residential and even commercial rental agreement. If you want to deviate significantly from the standard template, then the only option is to draft your agreement and go for Offline registering.
There are two ways you can handle this. First is, you can give Power of Attorney (POA) to someone who you trust and who is available to sign on your behalf. You need to first prepare POA and provide that document to us to process it further.
The second option is you can buy a biometric device [Secugen Hamster Pro 20]. The website needs this particular device only as the Govt has authorized only this vendor for Aaddhar integration. It is available on amazon. You will also need a windows computer.
Once you have the device, we will help you in setting it up and completing your part by remotely connecting your desktop via any screen sharing software like TeamWeaver, AnyDesk, etc. It takes around 30 mins to complete this step.
As per Maharashtra Rental act 1999 clause 55, its mandatory to register the agreement irrespective of the tenancy duration.
55. Tenancy agreement to be compulsorily registered.
(1) Notwithstanding anything contained in this Act or any other law for the time being in
force, any agreement for leave and licence or letting of any premises, entered into
between the landlord and the tenant or the licensee, as the case may be, after the
commencement of this Act, shall be in writing and shall be registered under the
Registration Act, 1908.
You can give someone the power to sign the property rental agreement (not sale authority) on your behalf. This document simply states that person/s A gives some basic authority to person B like signing the rental agreement. Until recently, a notarized POA was accepted document. Now authorities have started asking for a registered POA document. So you need to prepare this in advance.
The agreement is a registered document, which means once you get it completed you can not change it. There is no provision to edit it. You have to do a new agreement with all the parties. Everyone needs to provide their biometric again. Generally in this case, the person leaving and the replacement person bears the cost of this re-agreement.
You can do a backdated agreement for up to 4 months. But it is always advisable to complete it well within timelines.
Yes, you can do it. The cost of the agreement increases moderately as per the duration. While doing a multi-year contract, you will need to decide rent escalation upfront for each year and need to be sure that you are going to stay for that long. In the case of bachelors sharing the flat, this is not advisable as the chance of someone leaving within the agreement period is high and then it will be the wastage of the money.
Rent agreement charges depend upon rent, deposit, duration, municipal limits of your property, etc. We will let you know the amount once we have all these details.
Once all parties sign the agreement by providing their bio-metric, we will submit it. After submission, it can take from 2 days up to 2 weeks. It depends on the resources available on sub registrar offices. Some time due to technical issues, it can even be longer.