Limit the rent deed for less that one year.

In case of overstay by tenant after expiry of rent deed, add clause of increase in rent at a rate which is much higher that the expected increase in rent rates after one year. The tenant would be pressed to renew the rent deed.

Take photographs of your property before the rent deed and make them a part of the deed. Add clauses for recoveries in case of damage made to your property by the tenant. Your photographs would serve as proofs of the original property.
Read more
Reply
1 Replies
Sort by :Filter by :
  • Rent Leave and license agreement query

    Hi,

    I have a query reg. Leave and License agreement. I am negotiating with a financial institution in Mumbai for my premises. They have offered a decent mkt rate but the escalation per annum is only 5% and they have the option to renew at the same rate after 5 years (a term of 5 yrs will be defined for Leave and License). Also the right to terminate the agreement exists with them and not with me!

    Are these standard practices? Will appreciate mkt info.

    thanx

    mantis
    CommentQuote