[PARTY A] may use the bond to settle [PART B`s] default or breach of this Agreement or to cover operating or maintenance costs that [PART B] would otherwise have to pay. To register a rental agreement, you must pay fees such as stamp duty and registration fees. The costs are usually shared by tenants and landlords, but they mention this in the agreement. In addition, it should be specified who pays fees such as lawyers` fees, if any, or placement to agents. Below is an example of a surety clause in a rental agreement. These clauses can be long from a few sentences to a few paragraphs. Landlords usually keep the original copy of the lease, but you should always keep a copy. The agreement should clearly state the amount of rent you must pay each month and the due date on which it must be paid. Attorney`s Commission (Rental Fee): In addition, you should plan to pay an additional 10% contract fee to the landlord`s lawyer who will design the lease. Before you sign anything, be sure to read the agreement carefully and, if possible, hire a professional (i.e. your own lawyer, who should also read it).
In the event of a dispute, unregistered leases are not considered by the court as the main evidence when and how the contract can be renewed, how much the rent will increase at the time of the extension, whether or not there are provisions to renegotiate the rent, etc. Even in cities like Mumbai, real estate agents added clauses in the original agreement regarding the payment of brokers at the time of the extension. Discuss this clause and find out in advance what the brokerage amount will be for the extension and who will pay it. The agreement should also have the description of the house you are renting, such as the floor or apartment number, the surface of the house, the number of bedrooms, bathroom, living room, kitchen and so on. If it is a furnished house, make sure there is a list of all faucets and faucets like beds, sofas, tables, chairs, cabinets, number of fans, air conditioning, lights, etc. Reading your lease, there are things to watch out for. Duration of the lease, agreed amount, which covers the costs of working at home for the duration of the rental, the services covered by the service fee, the amount to be paid as additional costs (deposit, agency and contract fees), the schedule before a possible increase in rent. « Ideally, you have to register the lease, » Malhotra said….