Create Your Residential Lease Deed Online – EasyDocz

Create Your Residential Lease Deed Online 📝

Ensure a clear and legally binding lease agreement with our Residential Lease Deed templates – Reviewed and customized by legal experts for your peace of mind.

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What is a Residential Lease Deed? 🏠

A Residential Lease Deed is a document that outlines the rights and responsibilities of both the landlord and tenant when a residential property is being rented. Leases can be short-term (a few months) or long-term (a year or more) and are used for various types of rental properties, including homes and apartments.

Difference Between Residential and Commercial Lease Deed 🏢

A Residential Lease Deed is not the same as a Commercial Lease Deed. In a commercial lease deed, the tenant is typically a business entity, and the property is used for business-related activities. The commercial lease deed is more detailed and outlines the responsibilities of each party involved, including taxes, maintenance, and restrictions. Usually, commercial lease deeds are for longer periods.

Is it Mandatory to Have a Residential Lease Deed? ❓

No, it is not mandatory to have a Residential Lease Deed. However, having one helps both parties to have a clear understanding and avoid any disputes in the future.

Essential Clauses in a Residential Lease Deed 📜

A Residential Lease Deed must contain the following clauses:

  • Parties involved: names and details of the landlord and tenant.
  • Property description: detailed description of the rental property.
  • Term of lease: duration of the lease agreement.
  • Rent amount: rent payment intervals, due date, etc.
  • Payment methods: the method of making the rental payment including cash, online payment, etc.
  • Security deposit: the amount of security deposit, method of payment, return terms, etc.
  • Maintenance and repair: defines who is responsible for major or minor repairs of the property.
  • Utilities: includes the details of utilities included and the tenant's responsibility.
  • Use of property: the accepted way of using the property and surrounding facilities.
  • Subletting: rules regarding further renting out the property by the tenant.
  • Termination: conditions under which the lease can be terminated by either party.
  • Renewal options: conditions for renewing the lease at the end of the term.
  • Inspection: The landlord's right to inspect the property with notice.

Frequently Asked Questions (FAQs) ❓

Any individual above the age of 18 years or entities registered in India for utilizing it for employees.

The duration of the Residential Lease Deed varies from one year to several years. It depends on the nature of each transaction. Often, the Residential Lease Deed has a clause for automatic renewal, under which the Residential Lease Deed extends to a further period unless terminated by either party in writing.

Yes, the Residential Lease Deed needs to be registered if the period of the lease is more than one year. For registration, both the lessor and lessee have to go to the concerned office of the sub-registrar where the property is located.
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