RENTAL AGREEMENT
This Agreement of rent made and executed on the ____________, 2021, by and between
1. Sri, ___________________, S/o. Sri _____________________
Residing at: _______________________________
_________________________________________
____________________________________________ – 560019
Hereinafter referred to as the landlord of the one part,
2. ____________________________________________ Ltd
Represented by its Director, Mr. ___________________, residing at No. _________________________________________________________________________________________________________ – 560019
Hereinafter referred to as the Tenant, which term shall mean and include his successors, an assign in office, of the Second Part, witnesseth as follows:
Whereas the Landlord, referred to in part one, is the absolute owner of the house premises, situated at _________________________________________________________________________________________________________________________ – 560019, which is morefully described the schedule hereto,
Whereas the Scheduled Property is now lying and the Landlord expressed his willingness to let it out on Rent.
Whereas, the Tenant referred to in Second Part above, is in need of premises to carry on its business, and has approached the landlord to let the Schedule Premises on Rent.
Now this deed of rent is executed by the Tenant in favour of the Landlord on the terms and conditions referred to hereinafter:-
1. Monthly Rent: The monthly rent mutually agreed upon for the Schedule Premises shall be Rs. ____________/- (Rupees _____________________ Only) per month and shall be paid by the Tenant to be Landlord on the 5th of the following month without fail.
2. Validity: This rent agreement is made and executed by both the parties for a period of eleven months only. The tenure can be extended for a further period on mutual consent and in such circumstances, the monthly rent will be increased by 5% on the rent prevailing in the previous year.
3. The monthly electricity charges shall be paid by the Tenant as per the HESCOM Bill for the electricity consumed by them.
4. The water consumption charges every month shall be borne by all the tenants on equal sharing basis, as there is only one meter for the entire premises.
5. The Tenant undertakes to keep the schedule premises in good and shall noit cause any damage to the schedule premises during their tenancy. In case of any damage noticed to the scheduled premises the same has to be made good by the Tenant or the cost of such damage will be deducted from the Rent Advance, while vacating the premises.
6. The Tenant shall not sublet the Schedule Premises to any third Party and if found subletting, the rent agreement will be determined immediately without any further notice.
7. A Period of 2 months prior notice period would be sufficient to determine the rent agreement for both the parties.
8. The Schedule Premises has the following fixtures also: _______ceiling fans, _____________ tube lights and five bulbs.
9. The Landlord shall handover the vacant possession of the premises to the Tenant on the receipt of the advance from the Tenant.
SCHEDULE PREMISES
Situated on _________floor of the premises bearing ____________________________________________ – 560019 having a Hall, _______Rooms, ___________Kitchen, Bath/Toilet.
In witness whereof, the parties to this Rent Agreement, have affixed their signatures, hereunto on the date and month hereinabove mentioned.
WITNESSES
|
1. Name
Designation : Address:
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TENANT ________________________________ Ltd Represented by Mr.________________ – Director |
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1. Name
Designation : Address:
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LANDLORD
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