This Rent agreement is made and executed here at New Delhi on this 26th day of March 2018 between First Party Name and complete address, hereinafter called as the FIRST PARTY / Owner of the one part.
Second Party Name R/O …………………., hereinafter called the SECOND PARTY/ TENANT of the other part.
The expression of the term the First party/owner and the second party/ tenant wherever they occur in the body of this Rent Agreement shall mean and include themselves, their legal heirs, successors, executors, administrators, legal representative, nominees etc.
Whereas the fist party is the owner and in possession of the Built up property bearing ……………. R/o H. N. ……………, situated at ………………… and has let out its one room set the second party on monthly rental basis, at a monthly rent of Rs.7 500/- (Rupees Seven Thousand Five hundred only) excluding electricity charges for a period of 11 month, commencing from date 06/12/2017 on the following term and conditions:.
NOW THIS RENT AGREEMENT WITNESEESTH AS FOLLOWS
- That the tenancy has been granted by the First party to the second party for a period of 11 months, commencing from 06/12/2017 and will remain valid up to 06/09/2018 which may be extended for a further period on mutual consent of the parties.
- That the Second party will be liable to pay the monthly rent of Rs 7,500/- (Rupees Seven Thousand Five Hundred only) per month excluding the electricity and maintenance charge payable every month in advance, on or before the 07th day of each English calendar month. This monthly rent will be increased by 10% after the expiry of 11 month, if the tenancy is extended for a further period.
- That the Second party shall also be liable to pay day to day minor repairs, maintenance charges and electricity charge as per consumption shown in the electric meter/ sub meter or bills received from the authority concerned
- That the tenant/second party shall abide by all the bye–laws rules and regulations of the local authorities in respect of the demised premised and shall not do any illegal activities in the said demised premises.
- That the Second party shall not be entitled to make any structural changes in the rented premised except the installation of temporary decoration, wooden partition/cabin, air-conditioners etc. without the prior written permission of the owner/ first party.
- That the tenant/second party will not make any addition/alteration. Construction or renovation etc. In the rented premises under any circumstances, without prior written permission of the first party/owner.
- That the Second party/tenant will not let out, sublet, assign or part with the rented premises to any other person, under any circumstance without prior written permission of the first party/owner.
- That the second party will use the rented premises for Residential purpose only or for that purpose, for which it is degreed by the first party. In case the tenant makes a breach of the agreement, the agreement will automatically be treated as terminated and the Second party shall be required to vacate the premises immediately.
- That the second party shall not cause any damage to the property in anyway, except for the normal wear and tear. The tenant/Second party will be liable to make good any damage which may be caused during the tenancy by negligence of the family members or his servants to the said premises.
- That the Second party, at the time of initial inspections, has seen the fittings and fixtures and found them in good conditions and in perfect working order and nothing is found broken or missing. The Second party shall be responsible for the restoration of any broken or mission fittings and fixtures.
- That this rent agreement may be terminated before the expiry of the tenancy period by serving one month’s prior notice in writing by either party for this intention.
- That the Second party/ tenant will permit/allow the First party/owner or his/her duly authorized representatives to enter upon the rented premises for inspection or to carry on any repair work, at all reasonable hours after prior appointment.
- That the second party does not hand over the peaceful vacant possession of the demised premises on the expiry or earlier termination of the tent agreement, then the First party will be bound to pay penalties for unauthorized occupation of the demised premises as damages until the Second party vacates the demised premises.
- That this rent agreement may be extended for a further period with mutual consent of both the parties and in that case a fresh agreement with terms and conditions will be executed between the parties and in that case the rent will be increased according to market level at that time.
- That that First party has received a sum of Rs. 7,500/- as advance rent and Rs. NIL/- as an interest free security deposit from the second party. The security amount will be refunded to the First party at the time of peaceful vacation of the rented premises after adjusting the dues or demands, if any.
- That the original of this rent agreement shall be retained by the first party and the photocopy of the same will be given to the second party.
- . That the property is located within the jurisdiction of new Delhi/ Delhi as such any dispute between the parties related to this Rent Agreement shall have jurisdiction of New Delhi/Delhi courts only.
In WITNESS WHEREOF the owner/First party and the tenant/Second party have hereunto subscribe their respective hands at New Delhi on the day, month and year firs above written, In the presence of following witnesses.
FIRST PARTY/ OWNER
SECOND PARTY/ TENANT