Tenancy agreement is a legal contract between the landlord and the tenant that outlines the terms and conditions of the rental property. This agreement serves as the primary document that governs the landlord-tenant relationship, and it is essential that both parties read and understand the agreement before signing it. In Hindi, a tenancy agreement is commonly called “किराये का अनुबंध” (kiraye ka anubandh).
The tenancy agreement can vary depending on the jurisdiction, but generally, it includes the following details:
1. Names and addresses of the landlord and tenant
2. The rental property`s address and description
3. Rental amount and payment schedule
4. Security deposit details
5. Duration of the tenancy and renewal options
6. Tenant`s obligations and responsibilities, including maintenance and repairs
7. Landlord`s obligations and responsibilities, including necessary repairs and maintenance
8. Restrictions on the use of the rental property
9. Consequences of violating any terms of the agreement, including eviction
10. Signatures of both parties
In India, the tenancy agreement is governed by the Rent Control Act, which varies from state to state. This act provides provisions for both tenants and landlords and sets out the rights and duties of both parties. It is crucial to follow all the legal requirements while drafting a tenancy agreement and get it registered with the local authorities.
A typical tenancy agreement in India is for a minimum duration of 11 months. It is renewable after 11 months, and the rent amount can be revised based on market rates. The agreement usually requires the tenant to pay one to two months` rent as a security deposit, which is refundable after the tenancy period ends.
In conclusion, a tenancy agreement is a crucial document that outlines the terms and conditions of the rental property in Hindi. Both tenants and landlords should familiarize themselves with the agreement`s contents and follow all legal requirements. A well-drafted tenancy agreement can prevent disputes and ensure a smooth rental experience for both parties.