Looking for the steps for a rental agreement for newly rented houses? Or you want to give the post property for rent for more than 12 months? Make sure you have a registered rental agreement. A rental agreement is a legal document signed between both parties. If you are renting for less than 12 months then there is no such requirement of registering a rental agreement, it is mandatory in the case when someone wants to own the property for more than 12 months. Registered Rental agreement gives satisfaction to both tenant and the landlord since no one back steps the other party.
Non-registered rent agreement
It is a piece of paper notarized by the notary. However, even then, it is acceptable as an address proof but may not be sufficient to protect the parties rights. The non-registered renting agreement could be prepared on Rs 50 or Rs 100 stamp paper issued by the state.
Therefore, 11 months rental agreement is not required to be registered.
Rental agreement registration
If you want to rent out a place for more than 12 months then you need to register it. You could register a rental agreement in the registrar’s office in the following city. The registration fee varies and depends upon the state. Basically, it is binding both the parties and is admissible as proof in the court of law.
Basic Procedure of registered rental agreement
Now, we have to understand that a rental agreement of more than 12 months needs to be registered otherwise it is enough to it with the notary public and paying the stamp duty.
Apart from knowing the basics of rental agreement registration and its requirement, it is a must to know the basic steps to make it registered:
- Contact the lawyer and draft a rental agreement.
- Tenants need to get the rental agreement printed on specific stamp paper.
- Both the parties need to sign the designated place on the rental agreement.
- Two witnesses are required who are not related to either party.
- Along with this, both the parties need to physically present at the sub-registrar’s office of the sub-locality.
- Both the parties along with the witnesses need to have their two passport size photograph and ID card for validation and verification.
- As soon as the stamp duty is paid, registration is completed.
Online rental agreement registration
Today, due to the coronavirus pandemic it is all about digital medium whether it is about buying a product or getting any service. So here we are going to discuss online rental agreement registration, although there are few states who allow the online procedure.
The procedure of online rental agreement registration
- Visit the authorized government website.
- Chose the jurisdiction from the given list.
- Provide all the details of both the parties and witnesses required in the form.
- Submit the details
The major document required: PAN card of all the parties (tenant, landlord, witnesses), biometric thumb.
