Rental Agreements continue to be an unresolved pain point, whether you are a tenant or a homeowner. The main trouble with a rental agreement is the learning curve involved in it.
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There is no shortage of rental agreement guide pages on the internet. But the rental agreement is a legal document. Getting the proper information on how rental agreements work and how they are processed would mean doing a lot of research.
If you are a tenant, you might have been troubled by landowners who are reluctant to draft rental documents. But keep in mind – a rental agreement is always beneficial. It will protect your rights as a tenant against unlawful evictions and arbitrary increases in rent and maintenance.
The Two Types of Rental Agreements
Rental agreements are either
- Lease agreements or
- Tenancy agreements.
Tenancy agreements are applicable for rentals which are less than 11 months. Meanwhile, a lease agreement is typically used when the agreement lasts more than a year. You can read more about the differences between various kinds of rental agreements here.
Why you must Draft a Rental Agreement
The rental agreement is the basis of cooperation between the landowner and tenants. Having a drafted rental agreement ensures that the rights of both parties are protected.
More often than not it is the landowner who drafts the terms and conditions of the rental agreement. This agreement is handed over to the tenants who have no choice but to sign—the tenant might have already finalised the apartment by the time the agreement has been handed over.
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Here’s the worst-case scenario, if you are a tenant:
The rental agreement ends up having unfavourable terms and conditions which could affect your relationship with the homeowner.
Sure, the state governments are amending tenancy laws in an attempt to instil trust between landlords and tenants, but it is safer to be diligent as a tenant because your diligence can save you money.
The Indian real estate industry has already started to switch to digital mode.
The tech-savvy homeowner and tenant have ample options to ensure that their mutual expectations are met.
Why you should use NoBroker Rental Agreement?
NoBroker guarantees you the best online rental and leases agreement services in your city. Here’s what makes NoBroker’s Rental Agreement service stand out from the competition.
1. Doorstep Delivery
NoBroker legal Services assures you of quick completion of your rental agreement. Once completed the document will be delivered to your doorstep, saving you any inconvenience. You don’t have to visit any Government office for any of these procedures. All the while you can track your document delivery through the NoBroker app.
2. Lowest Prices in the Market without any Stress
In addition to super-fast doorstep delivery, the NoBroker Rent agreement guarantees the best legal documentation at the lowest-ever market prices. You get genuine documents that are legally valid in a court of law.
3. Quick and Easy Process
Whether you are a tenant or a landowner, you can easily draft a rental agreement using the NoBroker app or via the NoBroker website using a few simple steps.
4. Secure Payment Channel
NoBroker Pay is a secure payment channel that you can use for your rental-related payments. NoBroker Pay, in addition to being a quick and easy way to pay, allows you to earn rewards and cashback on your credit cards every time you use them.
You can access this from within the NoBroker app.
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How to create an E-Stamped Rent Agreement using NoBroker
All you need to do is fill in your details online as per your requirements and submit the draft. The NoBroker Legal Services Team will print out the agreement on stamp paper and have it delivered to you in 3–4 days.
If you want to draft a rental agreement using NoBroker Services you can do that by following these steps–
- Go to the NoBroker home page and click on Rental Agreement from the legal services section.
- On the Nobroker Legal services page, choose your city from the dropdown.
- Scroll down and click on E-Stamped Agreement.
- Choose the Stamp Paper amount as per the Government regulations, select the Agreement Date, and choose whether you are a Tenant or an Owner.
- From Add on Services, you may choose to add
- Notarized agreement–You can add this if you want to get your signatures authenticated by a notary public.
- Personalised assistance– You will get assistance for drafting and preparing the custom clauses for your agreement.
- Doorstep delivery– for a nominal charge you will get your agreement delivered to your doorstep.
- E-sign Agreement – You can get your agreement is-signed if any of the parties involved in the agreement stays in a remote area.
- Click Save and Continue once you have chosen the required services.
- In the pop-up, choose your payment method.
- Enter your property details
- Click on Save and Continue.
- Enter the Landlord details and click Save and Continue.
- Similarly enter the Tenant details and click Save and Continue.
- Fill in your Contract Details such as agreement duration, agreement starting date, rent amount and deposit amount.
- Cross-check the information you entered. Click on Preview to view the final agreement. You can use the Share button to generate a link that you can share with the other parties.
- Select your delivery address and click Pay once you have verified the quotation.
- In the secure checkout, menu choose your payment option and make your payment.
Once you have made the payment, you will receive updates via whatsapp and email. The Rental agreement will be sent to the address in 3-4 working days.
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NoBroker Rental Agreement Cost
The price for drafting a rental agreement varies from access to India. However, the general fees can be around ₹1000–2000.
NoBroker provides you with a pay-per-service charge model. The cost you have to pay for NoBroker rent agreement will depend on the services that you opt-in for. Here’s a quick look at the services available.
NoBroker Rent Agreement Add-on Services
- Notarized Agreement: Have a Notary Public verify the signatures on your agreement.
- Personalized Assistance: Help you prepare the agreement and write the clauses to fit your needs.
- Doorstep Delivery: Courier fees for deliveries outside of Bengaluru.
- E-Sign Agreement: Get the agreement signed electronically if any part of it is in a remote area.
NoBroker rental agreement charges will be a sum of the costs for the services that you opt-in for. The price quotation will be lesser than the market prices.
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The NoBroker Legal Services team can guide you through the process. You can call them on +91 9243012802, to help you draft a NoBroker e-signed rental agreement.
FAQs
1. What are the different types of rental agreements in India?
The most common types of rental agreements include lease, licence and tenancy agreements. You can contact the NoBroker Legal services team to help you create a rental agreement.
2. What can I do if my tenant violates the rental agreement?
If your tenant violates the terms and conditions of your rental agreement, you can ask them to leave. You can seek the assistance of the police to get them evicted.
3. How can I pay for the NoBroker online rental agreement service?
The most secure way to pay for NoBroker services is to use NoBroker Pay, a secure payment gateway. Your confidential information is encrypted and protected by sophisticated security measures.
4. Who should prepare the rental agreement?
The rental agreement may be drafted either by a real estate agent, the landlord, or thetenant. It is advisable to take the help of legal experts to do the same, as the rental agreement is a protection of your legal rights, whether you are a tenant or a landlord.
5. Who should bear the cost of the rental agreement?
There is no rule regarding who should be paying for the rental agreement. Generally, it is the tenant who pays for the rental agreement. A rental agreement is a document that protects your legal rights as a tenant and a landowner, so we recommend that you take the initiative to draught one. If you feel that the cost is too high, you can always share it with the parties involved.
