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Can a tenant live without an agreement?
Yes, it is legal to stay on a property on rent without actually drafting a written rental agreement. Even though it is recommended to have a rent agreement to safeguard both parties’ interests, the Indian law permits a tenant and a landlord to have a prosperous relationship without a written agreement.
How does a lease benefit both landlord and tenant?
A lease is usually offered to tenants at a lower rent than a month-to-month rental agreement because tenants are committing to a longer tenancy. The longer a tenant stays, the lower the cost of operating the rental property to the landlord.
Can a landlord refuse to give a tenancy agreement?
Can my landlord evict me without written contract/tenancy agreement? In short, yes. Since a verbal contract is legally binding and creates a legitimate tenancy agreement, the statutory rights of both landlord and tenants as per the Housing Act apply, which includes the right for landlords to repossess their property.
What if I never signed a lease?
If there is no lease, either written or oral, a landlord still can evict you. This is because the lack of a lease means that you are in a month-to-month tenancy at will and must pay rent on a monthly basis, or more frequently if you have an agreement to that effect.
Is unsigned contract enforceable?
In many cases, both sides will fulfil their obligations under the contract with no issues. Depending on the circumstances, an unsigned contract may still be binding and enforceable in court.
What if lease agreement is not registered?
Yes, if somehow you do not register the rent agreement with the authorities, you may end up paying 10 times the original amount (plus the outstanding registration charges and stamp duty charges) as a penalty. To register your rent agreement, you require to visit the sub-registrar office in your locality or city.
What are the benefits of a one year lease?
Among the benefits of a year-long lease is the security of having renters in place for the duration of the lease dates. In theory, it means no turnovers for a year. It makes tenants commit to the rental and gives landlords plenty of notice to re-rent it.
Why should a landlord have a lease?
Pros of a Lease: Many landlords prefer leases to rental agreements because they are structured for stable, long-term occupancy. Placing a tenant in a property for at least a year may offer a more predictable rental income stream and cut down on turnover costs.