Comprehensive Rent Agreement Template for Residential Leasing

Rent Agreement

This Rent Agreement is executed at [Place], on this [XX] day of September [XXXX], between:

Mr./Mrs./Ms. [Name of Landlord]
R/o [Residential Address of Landlord]
(hereinafter referred to as "THE LESSOR")

AND

[Name of Designated Partner]
R/o [Residential Address of Designated Partner]
(hereinafter referred to as "THE LESSEE")

The terms "Lessor" and "Lessee" shall encompass their respective heirs, legal representatives, administrators, successors, executors, nominees, and assignees.

WHEREAS, the Lessor is the sole owner of the entire property located at [Address of the Place], hereinafter referred to as "THE SAID PROPERTY."

AND WHEREAS, the Lessee is the proposed director of the company intended to be incorporated under the name “Name of LLP.”

AND WHEREAS, the Lessor has agreed to rent a portion of the aforementioned property to the Lessee at a monthly rent of ₹5,000 (Rupees Five Thousand only), excluding electricity, water, and maintenance charges.

NOW, THIS DEED WITNESSETH AS UNDER:

The Lessor has rented the specified portion of the property to the Lessee at a monthly rent of ₹25,000 (Rupees Twenty-Five Thousand only), excluding electricity, water, and maintenance charges.
The Lessor has provided the Lessee with physical vacant possession of the said portion of the property.
The lease is granted for a period of eleven months, commencing from 19-09-2019 and concluding on 18-09-2020, which serves as the lock-in period.
The Lessee shall remit the monthly rent to the Lessor by the 1st day of each calendar month in advance. If the Lessee fails to pay the rent on time for two consecutive months, they shall vacate the rented portion, and the lease shall be terminated immediately.
The Lessee is responsible for paying electricity consumption charges to the relevant authorities or Lessor, along with water and maintenance charges.
Prior to occupying the rented portion, the Lessee has inspected and confirmed that all sanitary and electrical fittings and fixtures are in working order. Upon vacating, the Lessee shall restore them to the original condition, accounting for normal wear and tear.
The Lessee is prohibited from subletting, assigning, or transferring possession of the rented portion under any circumstances.
The Lessee shall utilize the rented portion in accordance with municipal regulations and shall refrain from engaging in illegal or immoral activities.
The Lessee must comply with all rules and regulations set forth by local authorities.
The Lessee is not permitted to make any alterations or additions to the structure without prior consent.
Routine repairs, such as replacing fuses and light bulbs, shall be the Lessee's responsibility. Major repairs will be undertaken by the Lessor at their own cost.
The Lessee shall allow the Lessor or their representatives to inspect the rented portion and perform any necessary repairs at reasonable times.
The Lessee is required to maintain the property along with all electrical fixtures in good working condition.
Upon lease expiration, the Lessee shall return the vacant possession of the rented portion to the Lessor with all fittings and fixtures intact, normal wear and tear accepted.
The Lessee is satisfied with the Lessor's title to lease the specified portion.
The Lessor is responsible for paying house taxes to the appropriate authority.
Any GST, VAT, copyright, or other taxes mandated by the government or relevant authorities shall be paid by the Lessee upon demand, and the Lessee will indemnify the Lessor for these expenses.
The courts of Delhi shall have exclusive jurisdiction to resolve any disputes arising from this Lease Deed, with costs incurred by the defaulting party.
The Lessor consents to the use of the premises as the registered office of the proposed company "Name of LLP."

In witness whereof, the Lessor and the Lessee have executed this Lease Deed on [Place], [Day], [Month], and [Year] in the presence of the following witnesses.

WITNESSES:

[Name of Landlord]
(LESSOR)
[Name of Partner]
(LESSEE)

Date: —————
Place: —————