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Lease Deed – Residential Property
A Residential Lease Deed is a rental agreement used to lease or rent out a non-commercial property for residential living. The rental agreement or lease deed is a legal document which lays out the prescribed terms and conditions under which the rented property is leased out between the landlord and the tenant.
Though the relationship between the landlord and the tenant is cordial or friendly, it is good to have a written rental agreement or lease deed in place in case of any disputes or any other reasons in future during the lease term. The rental agreement or lease deed is usually signed on payment of certain deposit for the rental property between the lessor and the lessee.
A Lease deed must contain information about the lessor, lessee, tenure of lease, lease payments payable and other terms to be followed by the lessee and lessor during the lease term. Unlike Commercial Lease Deed, a Residential Lease agreement assumes the property is being used for residential living and not for business purposes.
ComplianceIndia can help you obtain your draft format of Lease Deed for leasing or renting Residential Property quickly and hassle-free.
How to proceed?
We will provide the draft format on request which can be used by the landlord or the tenant to prepare and finalise Lease Deed for use of Residential Property. The lease deed must be printed on a Non-Judicial Stamp Paper with a value of Rs. 100 or more. Two copies of the lease deed are usually executed, with each party retaining one of the original copies.
Let us provide a draft personalized and customized copy of Lease Deed for Residential Property to you based on your needs.