Pranav Pandya, Franchise Development Manager, RE/MAX Gujarat

What are lease, tenancy and house rent agreements and how to negotiate them

RE/MAX Gujarat

Lease

Transfer of the right to use the property.

For a specified period/for perpetuity

Can’t evict the leaseholder while the lease is in existence unless termination provision.

RE/MAX Gujarat

What if a lease leads to a tenancy?

RE/MAX Gujarat

Leave and License

RE/MAX Gujarat

Advantage of leave and licence

RE/MAX Gujarat

How to ensure an effective lease deed or leave and license agreement?

Find out who is the actual ownerIt is crucial that a leave or license or lease agreement is signed only with the real owner of the house.It is more difficult to trace ownership of agricultural landIf the person leasing the property is not the owner of the land, find out if he has the authority to lease it.

RE/MAX Gujarat

Renting out mortgaged property

Term of the agreement

RE/MAX Gujarat

Termination clause and notice periodMost property related disputes between landlord and occupant usually take place over termination and eviction.long notice periods and lock in periodsOne month and three month notice period are most common in India

RE/MAX Gujarat

Important Clauses

Lock in clause

Sub-letting clause

Payment clause

Increase in rent clause

Guarantor Clause

Maintenance/association charges clause

RE/MAX Gujarat

Important Clauses

Wear and tear clause

Clause for furniture and fixtures

Clause on associated facilities and amenities

Security deposit clause

Repair works during occupancy

RE/MAX Gujarat

Important Clauses

Wear and tear clause

Clause for furniture and fixtures

Clause on associated facilities and amenities

Security deposit clause

Repair works during occupancy

RE/MAX Gujarat

Important Clauses

Clause for tax liabilityDispute resolution clauseGeneral nuisance clauseGeneral points of concern regarding leasing or renting of any nature

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