Rent Agreement

RENT AGREEMENT

THIS RENT AGREEMENT is made and executed at New Delhi on this the _____date_____ BETWEEN ____First Party____ residing at ___________address_________, hereinafter called the “LESSOR” which term shall mean and include whatever the context so admits and permits his legal heirs, legal representative, executors, administrators and assigns of ONE PART

AND

_____Second Party________ residing at / office at __________address________ through it partners/directors (If Corporates) ________________, hereinafter called the “LESSEE” which term shall mean and include whatever the context so admits and permits his legal heirs, legal representative, executors, administrators and assigns of OTHER PART.

WHEREAS the LESSOR herein is the sole and absolute owner of all that piece and parcel of the Property bearing No. _________________Property Address to be let out______ , has agreed to let out the same to the LESSEE on rent and the LESSEE has also agreed to take the same on rent of Rs. _____Amount___ (___amount in words___) per month for a period of Eleven (11) Months, from ____Period of Lease_____ on the terms and conditions as mentioned below:

NOW THIS RENT AGREEMENT WITNESSTH AS FOLLOWS:

1.         The Lease is strictly for the commercial purpose to accommodate the occupier of the LESSEE. The Lease is according to the English Calendar Month.

2.         The LESSEE shall pay the Monthly Rent of Rs. __Amount__ per month in advance on or before 7^th day of each English Calendar Month.

3.         Apart from the monthly rent, the LESSOR shall pay all taxes and Levies due to the Municipal Corporation and to the other concerned authorities for the demised premises.

4.         Apart from the monthly rent, the LESSEE shall pay Maintenance Charges, Electricity Consumption charges and Water Charges if any to the authorities concerned.

5.         That the LESSOR shall have full control over the supervision and management in respect of the demised Premises. The LESSEE shall not, in any way, interfere with the LESSOR’s right of maintenance and shall permit the LESSOR or his authorized agent to enter into the demised premises for inspection or to carry out the repair work at reasonable time.

6.         That the Lessee shall carry on all day to day minor repairs at his own cost.

7.         The LESSEE should keep the demised premises in good and tenable condition, as any prudent person would do with his/her property.

8.         The LESSEE shall not use the demised premises for any purpose other than for which it was let out nor shall sub-let or sub-lease the portion let out to him to any third party.

9.         The LESSEE shall not commit default in the payment of rents and if the LESSEE fails to pay the monthly rent within the stipulated time for two consecutive months, the lease shall stand cancelled and the LESSEE shall vacate the Premises forthwith.

10.     The LESSEE covenants to keep the demised premises in good and tenable condition during the continuance of this Lease and also shall not make any permanent additions or alteration in the same.

11.     That, in case of damage caused by the LESSEE to the DEMISED PREMISES during the period of use, LESSEE shall be held responsible for compensation and other charges as the case may be and such compensation and other charges shall be recovered from the LESSEE.

12.     The LESSEE shall handle the fittings and fixtures in the demised premises and maintain the same properly.

13.     That the LESSEE shall not create any untoward disturbance or nuisance and shall not allow any anti-social person in the DEMISED PREMISES. Lessee shall abide by all the Laws, by-laws, rules & regulations of the local authorities in respect of the demised premises and shall not do any illegal activities in the demised premises.

14.     That the LESSEE shall not keep or store any illegal inflammable article or explosives that endanger life and property.

15.     Either The LESSOR or the LESSEE may terminate the Lease agreement by giving written notice 1 (One) months in advance. However the LESSEE is free to terminate the licensing agreement with a shorter notice period.

16.     That no interest shall be payable on the deposit amount, if any, which would be refunded by the LESSOR after deducting the arrears in rent and damages if any, at the time of LESSEE vacating and handing over the vacant and peaceful possession of the abovementioned premises to LESSOR.

17.     That the demised lease shall stand automatically terminated in case the LESSEE fails to comply with any of the stipulated terms and conditions of this agreement.

18.     On the Expiry of the Lease Period of 11 months, this Lease Agreement can be renewed on the 10% increase of rent after expiry of the agreement and conditions for a further period of 11 months upon execution of a fresh lease agreement.

IN WITNESS WHEREOF this agreement upon above-mentioned terms and conditions both the LESSOR and LESSEE hereby are subscribing their respective hands at NEW DELHI to the day, month and year first above written in presence of the following witnesses.

WITNESSES:
1.	_____________________                             SIGNATURE OF THE LESSOR
2.	_______________________                             SIGNATURE OF THE LESSEE