Most of the investors invest their money in properties to put it on rent and generate monthly income in the form of rent paid by the tenants. Renting is considered as the major source of income in India especially for senior citizens. Putting your properties on rent comes with many responsibilities. From searching for decent tenants on time to preparing rent agreements. People often seem confused between a registered vs notarized rent agreement.
If you find your client through NoBroker, then leave the worries behind on NoBroker. As NoBroker sends the rental agreement to your doorstep by post.
Let us understand the difference between notarized vs registered rent agreement
Notarized rent agreement
Notarization means verification of the document by the legal authority and then providing a seal of authenticity to the document. A Notarized agreement is a stamp paper prepared by the Advocates. On the Notarized stamp paper, advocate/Lawyer will mention the contract details between both the parties ( owner and tenant). In a notarized agreement following things are mentioned:-
- Duration of stay.
- Rent
- What is there in the property, such as lights , fan , table, bed ,chair etc.
- Special conditions: from owner to a tenant, rent hike after a certain period, any other valid condition owner wants to mention.
- Notarized rent agreements are comparatively simpler than registered rental agreements.
- In case of any legal proceedings, a notarized rent agreement is not legal in court.
- The process of a notarized rent agreement is cheaper as compared to a registered rent agreement.
- The cost involved in the process of a notarized rent agreement is 250- 500 INR which is the fee of the Advocate.
- You have to pay stamp duty that depends on the rent agreed and the locality of the property.
- You are required to get the renewal of the rent agreement after 11 months.
- With a registered rent agreement you can claim in court if incase required.
- For HRA tax exemption you might need to show the registered rent agreement.
For better understanding of
difference between a notarized agreement and a registered agreement tap here
To get Rent Agreement at your doorstep, choose NoBroker Rent Agreement Service
Conclusion: As per my suggestion you should get the registered rent agreement done if the tenant will stay in your property for more than six months to avoid any future disagreements. Hope your confusion about “Registered vs notarized rent agreement” is resolved by reading this answer.Your Feedback Matters! How was this Answer?
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What is preferred notarized rent agreement or registered rent agreement?
AvinashK
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5 Year
2020-08-29T11:51:17+00:00 2021-05-12T16:58:39+00:00Comment
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