icon Electricity

Landlord have 3.5 power load and tenant wants more load i.e. 10 ?What to do?What is the duty of landlord and tenant in this situation?


A. Dear Sir,
It is better to avoid such agreement because you will get great loss in future.
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icon Rent receipts

What is a proper rent receipts?What components will be there at rent receipts?Is there any other receipts the landlord have to provide to tenant other than rent receipts?


A. A rent receipt is a simple bill.

Such bill books are available in the shops also.
Components of such receipt are

1. Details of payments
2. Amount paid
3. Period for which such amount has been paid
4. Date of Payment
5. Stamp/Seal/Signature[of the person receiving such payment] verifying such payment

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Shreyash Mohta

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icon TDS on rent

What is tds on rent? Is it beneficial for landlord or tenant?Is it mandatory to have a clause of tds on rent in the rent agreement?


A. TDS is "tax deduction on source"
Such tax is applicable only if the rent amount is Rs.2,40,000

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icon Rent free period

What is a rent free period? What are its advantage and disadvantages?Is it good for landlord?


A. A rent free period is a period where no rent is given to the landlord. In other words it is free stay without any payment.
The disadvantage here is that the landlord gets no money and the tenant can stay free of cost and enjoy the land and other benefits. However, such a rent free period is given by the landlord to gain a prospective tenant who after such free period will stay in that premise by paying a certain amount of rent to the landlord.
So that now is the advantage.
Thanks
Shreyash Mo ...ReadMore

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icon Authenticity of Notarized agreement

Is it authentic to have your rent agreement notarized by a notary public?How to know my agreement has been notarized by a notary public?is there any government seal?


A. Sir, Notarising your rent agreement will make it authentic. The person doing such notary will provide in with his details with stamps and signatures will be authenticated. However, if the rent agreement is for more than 11 months then it is mandatory to get it registered. It is always better to get your rent agreement notarised.
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Shreyash Mohta

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icon Screening of Tenant

How to screen a new tenant?How to find out the tenants background?


A. Ask him to submit all his ID proof and govt Id's.
Also, ask him to submit proper KYC documents.
Submit this information to the Police and do a verification check.
The cost of such verification shall be born by the tenant.

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Shreyash Mohta

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icon Tenant Bonus Points

Is there any clause where I can help my tenant to have a bonus points or any scheme or any discounts during the tenure of agreement?


A. Yes sir, you can give possible discounts to your tenant.
Say for example

1. 25% discount upon total rent if the tenant pays a years rent in a lump sum
2. One month rent to be discounted in the tenant pays a years rent in lump sum
3. certain discounts if he pays rent in lump sum [6 monthly]
4. Deductions in next year for pre paid rent.

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Shreyash Mohta

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icon New Landlord

What is the basic duty of a landlord if he is the new beginner of providing his space for rent to a tenant?What will be his 1st duty to step into this business?


A. If you are renting part of the landlord’s building such as an office block, you may also have a responsibility to contribute to the upkeep and maintenance of common parts of the whole building such as the roof and structural walls, or other things that are used in common with other occupiers of the landlord’s property, such as lifts or a reception area. This is often referred to as service charge. The tenant will also be responsible for the payment of the insurance premium for the premises ...ReadMore

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icon Delay on rent payment

What clauses do we insert if rent payment is delayed in leave and license agreement of 11 months?


A. Dear Sir,
I have nothing to add after seeing the response of Mr Shreyash Mohta.
I endorse all the points.
Shanti Ranjan Behera
Advocate

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Other Responses
Rameshwar  Dadhe

Rameshwar Dadhe

Shreyash  Mohta

Shreyash Mohta

Rameshwar  Dadhe

Rameshwar Dadhe

icon Lock in period in L and L agreement

Can lock in period clause be used in leave and license agreement?


A. Dear Sir,
The answer is yes.
Shanti Ranjan Behera
Advocate

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