RENTAL AGREEMENTS IN INDIA
Indian rental market is unique. Rental agreements in India, are not just shaped by legalities but also by culture and social norms. While a common practice in most of the western world, rental agreements are still not widely used in India. In some Indian metros, people have started to understand the importance of rental agreements however, in most parts of the country; verbal agreements remain the standard procedure. In the good old days, a man’s word was everything and a verbal agreement usually accompanied with a person’s social and moral standing as his witness, was sufficient. However, times have changed. People have migrated thousands of kilometers from their home town. In a new city, where everyone is busy trying to fend for oneself; and, as people have become more self-focused,
COMMON DURATION OF A RENTAL AGREEMENT IN INDIA
Domestic rental agreements usually last for 11 months in India. Landlords usually prefer 11 month duration to avoid rental control laws. Rental control laws were signed by most state
SERVICE LEVEL (APPROX)
Governments in India to protect the tenants from unfair eviction and overcharging by the landlord.
BENEFIT / DESCRIPTION
Safeguards both Tenant and Landlord from unfair demand or behaviour of other party.
Landlord maintains clear ownership of property and may restrict tenant to perform specific activities like using property for illegal purpose.
Tenants get protected from uncertainty of change in rent or not reasonable demand from landlord.
ATTACHMENT REQUIREMENT – Photo ID Proof
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