Sitril Property Management

RENTAL AGREEMENT

PARTIES TO AGREEMENT

First Party
Mr./Ms. [Owner's name], Owner of rental property residing at [Owner's address], referred to henceforth as the “First Party”.

AND

Second Party
Mr./Ms. [Tenant's name] residing at [Tenant's address], referred to henceforth as the “Second Party”.

PRIMARY AGREEMENT

1. The First Party owns a residential house located at [Property address] and agrees to rent the house to the Second Party for a monthly rent of Rs. [Rent amount]/- ([Rent in words] only).

2. The Second Party agrees to pay the stipulated rent and the cost of recurring utility bills pertaining to electricity, water and sewage charges while occupying the said house. Any maintenance payment should be as agreed between the parties.

3. The Second Party shall pay the First Party a sum of Rs. [Deposit amount]/- ([Deposit in words] only) towards a refundable, interest-free security deposit.

4. The Second Party agrees to abide by the terms and conditions enumerated below.

TERMS AND CONDITIONS

The terms and conditions have been framed to ensure that both parties have a clear understanding of their rights and responsibilities and maintain a cordial relationship during the tenancy.

i. The Rental Agreement will come into force from [Start date] and will be valid until [End date].

ii. The Second Party shall pay the rent on or before the 5th day of each calendar month.

iii. The Second Party shall pay all utility bills, including any agreed maintenance, by the due dates. Penalties or arrears resulting from the Second Party's failure to pay shall be borne by the Second Party.

iv. One covered car parking space is allotted, and it must not be sublet to any other party.

v. If the First Party serves a notice to vacate in extraordinary situations, the Second Party shall, subject to applicable law and the agreement, vacate the premises within two months.

vi. If the Second Party wishes to vacate before completion of the 11-month term, they shall give two months' prior written notice. If vacating at shorter notice, compensation equal to two months' rent may apply as agreed by the parties and subject to applicable law. The security deposit shall not be adjusted towards notice-period rent unless mutually agreed in writing.

vii. The Second Party shall bear the cost of replacement or repairs for electric fans, lights, water taps, glass and washbasins where damage is caused by the Second Party, subject to normal wear and tear and applicable law.

viii. If the Second Party wishes to extend the stay beyond 11 months, they shall notify the First Party at least two months in advance. Any renewal should be documented in writing by both parties.

ix. Renewal shall not be assumed unless confirmed in writing by both parties, subject to applicable law and any valid written notice given before expiry.

x. Rent revision shall be 10% over the previous year's rent or as mutually agreed in writing by both parties.

xi. If the Second Party defaults on rent, the First Party may issue notice and take action in accordance with this agreement and applicable law.

xii. The Second Party shall retain bills related to electricity, water and miscellaneous expenses incurred during the tenancy and provide copies when reasonably required for settlement of accounts.

xiii. The First Party shall refund the security deposit within 15 days after the Second Party vacates the property, after deducting outstanding utilities and reasonable, documented repair costs for damage beyond normal wear and tear.

xiv. The Second Party shall not sublet, lease, share or permit an unauthorized third party to occupy the premises, or engage in unlawful, antisocial or nuisance activities that disturb neighbours or the apartment community. Any action, termination or deposit adjustment must be consistent with this agreement and applicable law.

xv. The Second Party shall keep the premises clean and in good condition, causing no damage to the structure or facilities beyond normal wear and tear. On termination or completion of the tenancy, the premises shall be handed back in a clean and reasonably good condition.

xvi. Nailing or extra fittings are not permitted without prior permission. Damage to walls may result in recovery of reasonable repair costs. No additional holes or vents may be made for air conditioners or equipment without the First Party's prior written authorization.

xvii. The First Party may inspect the premises after giving at least one calendar day's notice to the Second Party, at a reasonable time and subject to applicable law.

xviii. The Second Party agrees to reasonably cooperate with the First Party in showing the property to prospective tenants before the tenancy ends, with prior notice.

xix. Maintenance issues related to electricity, plumbing, sewage and other minor complaints may be reported to the First Party or its property manager. Major repair work requires prior assessment and approval from the First Party, except where urgent action is reasonably necessary.

xx. The Second Party shall not install permanent fixtures, fittings or extensions without the landlord's approval. The parties shall agree in writing whether approved fixtures must be removed at the end of the tenancy and who bears the cost.

xxi. If the property remains unoccupied for two successive months and rent remains unpaid, the First Party may pursue remedies available under the agreement and applicable law. Entry, repossession and any deposit deductions must be carried out lawfully.

xxii. Keys will be handed over to the Second Party at the time of occupation. When vacating, the Second Party shall return all property keys to the First Party or its authorized representative.

xxiii. The First Party has appointed and authorized M/s Sitril Property Management to represent them in matters relating to property rent, maintenance and repairs. The Second Party may contact Sitril Property Management for service requests. Charges for services requested by or attributable to the Second Party shall be borne by the Second Party as agreed.

xxiv. Sitril Property Management may inspect the property once every four months during the tenancy after reasonable prior notice and subject to applicable law. Photographs or videos may be taken only as reasonably necessary for property-condition documentation and maintenance, with due regard to privacy. The tenant shall be responsible for damage caused during the tenancy beyond normal wear and tear. The tenant shall hand over the property in a clean and reasonably maintained condition at the end of the tenancy.

We, the undersigned, have read and understood the terms and conditions listed above and agree to abide by them.

Tenant contact: Not provided