LEASE / RENTAL AGREEMENT
1. Parties
This Lease Agreement ("Agreement") is made as of __________________ between __________________, residing at __________________ ("Landlord"), and __________________, residing at __________________ ("Tenant").
2. Demised Property
The Landlord agrees to let out and the Tenant agrees to take on lease the property situated at __________________ (the "Property"), together with fixtures and fittings as listed in the inventory annexed to this Agreement, for use strictly for __________________.
3. Term
This Agreement shall be for a term of __________________ commencing from __________________, and may be renewed thereafter on mutually agreed terms, including any revision to the rent, by way of a fresh agreement or written addendum.
4. Rent
The Tenant shall pay to the Landlord a monthly rent of __________________, payable in advance on or before the __________________ of each calendar month, by bank transfer or such other mode as the Landlord may specify, time being of the essence for such payment.
5. Security Deposit
The Tenant shall pay the Landlord an interest-free refundable security deposit of __________________ prior to taking possession of the Property, which shall be refunded to the Tenant within a period to be mutually agreed after the Tenant vacates the Property, subject to deductions for unpaid dues or damage to the Property beyond normal wear and tear.
6. Maintenance and Repairs
The Landlord shall be responsible for structural repairs and major maintenance of the Property, while the Tenant shall be responsible for day-to-day upkeep, minor repairs, and shall maintain the Property in good and tenantable condition throughout the term of this Agreement.
7. Utilities and Outgoings
The Tenant shall bear all charges for electricity, water, gas, internet, and other utilities consumed at the Property during the term of this Agreement, and the Landlord shall be responsible for property tax and any statutory outgoings applicable to ownership of the Property, unless otherwise agreed.
8. Use of Property
The Tenant shall use the Property strictly for __________________ and shall not use it for any illegal or unauthorised purpose, nor make any structural alteration to the Property without the Landlord's prior written consent.
9. Subletting
The Tenant shall not sublet, assign, or part with possession of the Property, or any part thereof, to any third party without the prior written consent of the Landlord.
10. Landlord's Right of Inspection
The Landlord, or their authorised representative, may inspect the Property at reasonable times upon prior notice to the Tenant, to verify its condition and compliance with the terms of this Agreement.
11. Termination
Either party may terminate this Agreement by giving the other party not less than __________________ prior written notice. The Landlord may also terminate this Agreement with immediate effect on the Tenant's persistent default in payment of rent, or material breach of the terms of this Agreement, after providing a reasonable opportunity to cure such default.
12. Handover on Termination
Upon expiry or termination of this Agreement, the Tenant shall vacate and hand over peaceful possession of the Property to the Landlord in the same condition as at the commencement of the lease, subject to normal wear and tear, and remove all personal belongings from the Property.
13. Dispute Resolution and Governing Law
This Agreement shall be governed by the laws of India and applicable state rent control regulations, if any, in force at __________________, __________________. Any dispute arising out of this Agreement shall be subject to the jurisdiction of the competent courts at __________________.
14. Notices
All notices under this Agreement shall be in writing and delivered by hand, registered post, or email to the addresses of the parties set out above, or as updated by written notice from time to time.
15. Miscellaneous
This Agreement constitutes the entire agreement between the parties regarding the lease of the Property and supersedes all prior discussions. Any amendment must be made in writing and signed by both parties. This Agreement may be executed in counterparts.
Execution / registration notes
- Register this agreement with the Sub-Registrar if the lease term exceeds 11 months, or execute it as an 11-month leave-and-licence/lease agreement, which is common practice to avoid mandatory registration in many states.
- Stamp duty on lease/rental agreements varies by state and is usually based on the average annual rent and security deposit — check your state's Stamp Act before execution.
- Verify whether local rent control legislation applies to this tenancy, as it may override certain contractual terms (e.g., termination and rent revision) in some states.
- Have this draft reviewed to align with any society/RWA no-objection requirements and the specific inventory of fixtures being handed over.
General-reference format provided by PNPC Global. Not legal advice. Laws and stamp-duty requirements vary by state and change over time — have this document vetted by a qualified professional before execution.