LEXIS AND COMPANY | +91-9051112233
What is a Rental/Lease Agreement & Why is It Essential for Property Deals?” ππ π£️ Client Question: "Sir, we’re leasing out a commercial property. Do we need a Rental/Lease Agreement, or can we just shake hands?" ✅ Answer: A handshake is good for friends, but when it comes to leasing property, you need a Rental/Lease Agreement ! π️ It’s your safety net, ensuring all terms are clear and legally enforceable for both landlord and tenant. π’π π What should a Rental/Lease Agreement include? ✔️ Property details (location, size, condition) π ✔️ Rent amount, payment schedule & due dates π° ✔️ Duration of the lease and renewal clauses ⏳ ✔️ Responsibilities for repairs, maintenance & utilities π§ ✔️ Termination terms and security deposit conditions ⚖️ π‘ Benefits of a Rental/Lease Agreement: Ensures clear terms for both landlord and tenant Prevents potential disputes over rent, repairs, or deposits Legally protects both parties in case of breach Prov...
Comments
Post a Comment