Frequently Asked Questions
what is rent agreement ?
A rental agreement or a leave and license agreement is a formal legal contract between the owner of a property and the people who want to rent it. The tenants are informed about all the amenities available in the property during the period of tenancy and the amount of rent and deposit, as well as any conditions regarding maintenance and upkeep of the property during that period. The written form of this bond is called a rent agreement.
Is It Compulsory To Get Rent Agreement Registered?
Yes, it is mandatory to get your rent agreement registered. According to the Registrations Act of India, it is compulsory for landlords to get their rent agreements with their tenants registered with the Sub-Registrar’s Office, if the lease is for one year or more. Failure to get it registered within four months of its creation can lead to imprisonment and a fine.
What Are The Steps To Get Your Rent Agreement Registered?
The Maharashtra government has converted its entire process of document registration to an online system. Citizens need no longer stand in long queues at the Sub-Registrar’s Office. They can go online to the government website, or a trusted government-approved service provider to complete the entire process in an easy, hassle-free manner.
What Are The Documents Required For Rent Agreement?
Apart from details like the owner’s and tenant’s names, property location, the period of tenancy, rent amount and deposit amount, you need to keep these documents handy for registering your rental agreement:
- PAN card – for owner only
- Aadhar card – for both owner and tenant.
What Should Be The Value Of Stamp Paper For Rent Agreement?
The stamp paper amount or stamp duty required to register your rent agreement will have to be calculated based on your monthly rent, the period of tenancy mentioned in the agreement and refundable/non-refundable deposit. In Maharashtra, it is 0.25 % – you can read more about how to calculate stamp duty and other registration charges here or just use this handy calculator.
What Is The Format For The Rental Agreement?
The rental agreement is a legal contract, and therefore the government has a set format to be followed. Essentially, it is an agreement on the amount of rent, deposits, terms, and conditions for tenancy that is recognized by the government. However, that need not be a cause of worry. There are thousands of resources available to solve your agreement drafting needs. You can easily draft your rent agreement online here.
Is Notarized Rent Agreement Valid?
No, a notarized rent agreement is not valid in a court of law. Many people opt to get their leave and license agreement notarized because it is a shorter procedure and costs much lesser. However, it is not recognized as a legal document. In case of any legal disputes between the landlord and the tenant, a notarized rental agreement holds no validity, irrespective of whatever conditions might be written down in it. Find out more here.
What Is The Cost Of A Registered Rent Agreement?
To get your rent agreement registered, you need to pay stamp duty, registration charges and fees to your service provider – that amount varies from one service provider to the next. If you choose a trustworthy, government-approved service provider, you can even avail attractive discounts and get value for your money.
Is Police Verification Required For Rent Agreement??
Police verification of tenants is mandatory in Pune city, but it is not a requirement for getting your rental agreement registered. A trusted service provider like Anulom can help you get your tenants information to the local police authorities based on your registration information itself. It’s a hassle-free service that saves you a trip to the police station
How Can I Get The Biometric Verification Done?
When you opt for a doorstep service provider like Us, the biometric scanning device will be brought to your doorstep by a customer service executive, that too at a time and place convenient to you. Extra visits can also be arranged if all involved parties cannot be present together. Property owners who live abroad can also get their biometric scanning done through the Distant Registration Service where the device is shipped to their doorstep.