Want to stay peacefully in rented property? You must include these 10 things in your rent agreement

Accurate Rent Amount

The rent amount is the most critical aspect of the agreement. Ensure that the correct rent figure is mentioned. Clarify whether it includes maintenance fees, parking charges, or other amenities to avoid misunderstandings later.

Security Deposit

Landlords take a security deposit to cover any potential damages or unpaid rent. The rent agreement should specify the amount and the conditions for its return. Ensure it mentions that the deposit will be refunded when the tenant vacates the property, deducting any necessary repairs for damages, if applicable.

Lock-in Period and Termination Clause

The notice period for vacating the property should be mutually agreed upon. Some agreements have a lock-in period, which prevents termination before a specific time. Ensure this clause aligns with your requirements. For residential properties, it’s better to avoid a lock-in period unless absolutely necessary.

Normal Wear and Tear

Specify in the agreement that tenants are not responsible for normal wear and tear, such as minor scuffs or paint fading. The tenant should only be liable for major damages, not for the natural deterioration that comes with long-term occupancy.

List of Amenities

Include a detailed list of all the amenities provided by the landlord, from appliances to furniture. This avoids future disputes over what was initially offered and what remains during the tenant’s stay.

No Outstanding Dues

Before signing the agreement, ensure there are no pending bills such as electricity, water, or society maintenance. This prevents any unexpected costs being passed on to you after moving in.

Renewal and Rent Increase

The rent agreement should state the renewal terms, including the percentage increase in rent upon renewal. It’s important to agree on these terms beforehand to avoid disputes when the contract ends.

Agreement Costs

Clarify who will bear the cost of drafting the rent agreement. Typically, the landlord handles this, but in some cases, tenants are asked to contribute. This should be agreed upon upfront.

Purpose of Property Use

Specify how the property can be used. If you plan to use the property for a specific purpose other than residential, make sure this is clearly outlined in the agreement to avoid future issues.

Restrictions and Prohibitions

Ensure the agreement lists any restrictions imposed by the landlord, such as subletting, renovations, or other property modifications. Knowing these in advance can help avoid conflicts.