Rent / Lease Agreement
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What is Rent / Lease Agreement?
The term landlord refers to a person who owns property and allows another person to use it for a fee. The person using the property is called a tenant. The agreement between a landlord and a tenant is called a lease or rental agreement. The landlord and tenant relationship has its roots in Feudalism, a system of land use and ownership that flourished in Europe between the tenth and thirteenth centuries. Under feudalism land was owned and controlled by a military or political sovereign ruler. This ruler gave portions of land he or she owned to another person, called a lord. The lord, in turn, could allow another person, called a vassal, to use smaller portions of the lord’s land. The vassal pledged allegiance and military or other service to the lord in exchange for the right to live and work on the land.
Deliverables
The tenancy agreements are of 2 major kinds of tenancy agreements, the lease agreements that are governed as per the Rent Control Laws and the license agreement which aren’t. There are several applicable laws to this topic with special importance for local laws. Some of the applicable laws include Maharashtra Rent Act 1999, Delhi Rent Act 1995, Tamil Nadu Buildings (Lease and Rental Control) Act 1960, Transfer of Property Act, Planning and Development (Housing) and Residential Tenancies Act 2016, Landlord and Tenant Acts, etc. A typical tenancy agreement does not include subleasing. Both tenants and the landlord enjoy certain rights. The landlord has the right of temporary recovery of possession, to increase the rent, to evict a tenant, to be advised of necessary repairs and so on. The rights of tenants are primarily spoken of in the Residential Tenancies Act, and the Landlord and Tenant Acts 1967 to 1994.
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