Simple Rental Agreement, Rental Agreement Example
LEAVE & LICENSE AGREEMENT / RENT AGREEMENT
This rental agreement is made on the (Date), (month) (Year) at (District) between Mr. __________ S/O __________, Residing at___________________________, hereinafter called the “OWNER” which term shall mean and include whatever the context so admits and permits their legal successors, legal representative, executors, administrators and assigns of ONE PART
AND
Mr. __________ S/O __________, Residing at___________________________, hereinafter called the “TENANT” which term shall mean and include whatever the context so admits and permits his/her legal heirs, legal representative, executors, administrators and assigns of the OTHER PART.
WHEREAS the OWNER herein is the sole and absolute owner of all that piece and parcel of the Shop premises, (Shop Address) _______________, and WHEREAS THE TENANT has approached the OWNER to demise the SCHEDULE mentioned premises on a monthly rental basis for Office purpose for a period of 11 Month on the terms and conditions hereinafter mentioned and the OWNER has also hereby agreed to demise the schedule mentioned premises to the TENANT on a monthly rental on the following terms and condition.
Terms and Conditions
- The rental agreement shall be initially for a period of 11 Months, commencing for (Date), (Month) (Year), and shall expire upon completion of 11 Months.
- The Tenant will be eligible to use the premises as Office and Stocking of Goods, as Office purpose. The rental agreement is according to the English Calendar Month.
- The TENANT has agreed to pay the Monthly Amenity charges on or before the 10th day of every succeeding month for the demised property more fully described in the
- Rs. 5,000/- Per month (Rupees Five Thousand Only) towards Rent.
- Rs. 15,000/- (Rupees Fifteen Thousand Only), Three months’ rent as a one-time interest-free deposit to be paid by the TENANT at the time of taking possession of the premises and refunded by the OWNER at the time of receiving vacant possession of the premises (Refer Point for details)
- Apart from the monthly rent, the TENANT shall pay Maintenance Charges, Electricity Consumption charges (At actual), and Water Charges if any of the authorities are concerned. The Maintenance of the premises such as maintenance of the common area, electricity, charges relating to a common area, and salaries paid to the servants for the maintenance of the Building.
- That the OWNER shall have full control over the supervision and management in respect of the said flat and the TENANT shall not, in any way, interfere with the owner’s right of maintenance nor the OWNER interfere with the TENANTs rights of quiet & peaceful undisturbed tenancy & occupation.
- The TENANT should keep the demised premises in good and tenantable condition, as any prudent person would do with his/her property.
- The TENANT shall not use the demised premises for any purpose other than for which it was let out, nor shall sub-let or sub –lease the portion let out to him any third party.
- The TENANT shall not commit default in the payment of rents and if the TENANT fails to pay the Monthly rent within the stipulated time for two consecutive months, the agreement shall stand canceled and the TENANT shall vacate the premise forthwith.
- The TENANT covenants to keep the demised premises in good and tenantable condition during the continuance of this agreement and also not make any permanent additions or alterations in the same.
- In case of damage caused by the TENANT to the SAID PREMISES during the period of use, TENANT shall be held accountable for compensation and other charges as the case may be and such charges may be attained from the security deposit amount when the same is refunded upon completion of the licensing agreement tenure (Vacation of flat).
- The TENANT shall handle the fittings and fixtures In the Demised premises and maintain the same properly.
- The TENANT agrees to pay the yearly General Maintenance charges (The same charges as mentioned in point 4) Directly to the shop owner. The TENANT pay in proportion to the charges and expenses incurred for the maintenance of the premises such as maintenance of the common area, electricity, charges relating to common area, and salaries paid to the servants for the maintenance of the Building.
- The Owner shall pay all taxes and Levies due to Municipal Corporation.
- The TENANT shall not create any untoward disturbance or nuisance and shall not allow any anti-social person in the SAID PREMISES.
- The TENANT shall not keep or store any illegal inflammable articles or explosives that endanger life and property.
- Either The Owner or the TENANT may terminate the rent agreement by giving written notice 1 (One) month in advance. However, the TENANT is free to terminate the licensing agreement with a shorter notice period, in which case the monthly rental for the premises & fixtures only for the period of one month, shall be paid as compensation to the Owner.
- That no interest shall be payable on the deposit amount, which would be refunded by the OWNER after deducting the arrears in rent and damages if any at the time of TENANT vacating and handing over the vacant and peaceful possession of the demise premises to OWNER.
- That the said agreement shall stand automatically terminated in case the TENANT fails to comply with the predetermined terms and conditions of this agreement.
- On the Expiry of the Rental Period, this Rent Agreement can be renewed on the 15% increase of rent per annum, after the expiry of the agreement and conditions for a further period as mutually decided by both the parties on the execution of a fresh rent agreement.
IN WITNESS WHEREOF, this agreement upon above-mentioned terms and conditions, both the OWNERS and TENANT hereby are subscribing their respective hands and seals to the day, month, and year first above written.
SIGNED, SEALED, AND DELIVERED IN THE PRESENCE OF WITNESSES:
Owners:—————————————- Passport Size Photo
Tenant:
—————————————- Passport Size Photo
Witness:
- …………………………………..
- ………………………………….
