4. There is nothing wrong with pursuing the current L.L. 2 agreement. It is not necessary. The lease may be renewed for a further 11 months. Some landlords prefer cheques after a few months of deferral – or sometimes depending on the length of the lease. The agreement should indicate the amount to be paid and the date of payment. Preferably make all cheque payments, so that transactions are recorded and transparent. In the event of a leave dispute and a licensing agreement, the owner cannot claim non-payment or payment of the delay. The agreement should also mention the penalty to be paid in the event of a late payment.
1) it is certain to extend the agreement at the end of the 33-month period 2. No interringing time is required before the contract is extended. 3. Without seeing the content of the LL agreement, I cannot say whether or not this requires changes. 3. If you want to modify or remove existing content, you may well modify the existing agreement or reach a new agreement with the inclusion of the desired conditions. If the agreement contains a security deposit, add Rs100 and Rs1.100 as a registration fee, bringing the total cost to Rs 6,240. The fees of lawyers or other intermediaries for all documents are not taken into account. The duration is the duration of the license. It is usually 11 months, but can also be increased to five years: there is no time limit.
We can also talk about a period of prohibition. For example, the tenant may be punished – and some or all, withholding their deposit – too early to terminate the agreement (usually six months). The time limits are not applicable in court, but if you sign a contract with a prohibition period, you are obliged to comply. If you have ever rented a property or lived in a rented house, you must have signed a rental agreement. Have you ever wondered why most leases are valid for 11 months? Often, neither landlords nor tenants nor even real estate agents know why. Let`s see. As a general rule, there is a clause in the agreement that the rent is revised upwards each year. A 5%-10% increase is normal, but it depends on the prevailing market price in your city. Withdrawal and licensing agreements have similar elements, but what is important is the wording. There are also some licensing laws that you need to know about. So, don`t just check to see that everything is there, read carefully to check its importance. Here`s what you need to be careful about.
1. When the contract is registered, the tenant is protected by rental rights, regardless of the duration of the tenancy. Most leases are signed for 11 months so they can avoid stamp duty and other fees. Under the Registration Act of 1908, registration of a lease is mandatory if the tenancy period is more than 12 months. If an agreement is registered, stamp duty and registration tax must be paid. For example, in Delhi, for a lease of up to five years, stamp paper costs 2% of the total annual rent of one year. Add a flat fee of Rs100 if a security deposit is part of the agreement. For a lease of more than 5 years but less than 10 years, it represents 3% of the value of the average annual rent for a year.
For 10 years and more, but less than 20 years, it is 6% of the value of the average annual rent of a year. The stamp paper may be in the name of the tenant or landlord. In addition, a flat-rate registration fee of EUR 1,100 million must be paid by the draft application (DD). Tenants cannot make changes to the property: there must be instructions on what can and cannot be done. Structural changes are generally not allowed. Contracts over 11 months or those that are renewed every 11 months could also indicate how often the apartment should be painted. If you or the owner wishes to terminate the contract, one month`s notice must be notified.