Sample Template Example of Legal Rent Agreement Between Landlord / Owner & Tenant For Flat / Home / House / Godown / Shop / Office etc. in Word / Doc / Pdf Free Download
Download Rent Agreement Format
Rental Contact Between
Two Parties ( Company & Owner) For Commercial Office Space
RENT
AGREEMENT
THIS RENT AGREEMENT is executed at Pune on 31st day of May 2016, between ************(Owner
Name), a company duly incorporated under the Companies Act,
1956 having its Registered Office at *************** (Owner Address), hereinafter referred to as the "LANDLORD"
which term shall, unless repugnant to the context hereof, mean and include its
successors-in-interest, administrators, executors, permitted assigns etc., the
party of the FIRST PART.
-2-
AND
********************(Tenant Name),
a company duly incorporated under the Companies Act, 1956 having its Registered
Office at ****************(Tenant
Address),
hereinafter referred to as the "TENANT" which term shall, unless
repugnant to the context hereof, mean and include its successors-in-interest,
administrators, executors, permitted assigns etc., the party of the SECOND
PART.
WHEREAS
the LANDLORD is the absolute owner in possession of the entire property
situated at ************************ ( Godown / Shop / Flat Address),
hereinafter referred to as the "said Property" .
AND
WHEREAS the LANDLORD has an area of
approximately 8.55 Bighas which is otherwise vacant and can be
put to commercial use ;
AND
WHEREAS the TENANT is on the look-out
for an area of approximately 1000 sq.ft. of area for the purpose of operating the same as its “Godown cum Office
and in furtherance thereof, has approached the LANDLORD seeking to take on
rent, an area of 1000
sq.ft.of the the said
property.
AND
WHEREAS the LANDLORD is agreeable to give on rent an area of 1000 sq.ft. of the said property (hereinafter referred to as the
"demised property"), as
desired by the TENANT for being used as Godown cum
Office space on the terms and conditions set out more particularly in
this indenture.
NOW
THEREFORE BOTH THE PARTIES AGREE TO BE BOUND BY THE FOLLOWING TERMS AND
CONDITIONS, WHICH HAVE BEEN MUTUALLY DISCUSSED AND SETTLED, INTER-SE BETWEEN
THEMSELVES, AS UNDER :-
1.
RATE OF RENT
1.1.
The LANDLORD has agreed to let-out/give on
rent to the TENANT and the TENANT has agreed to take on rent the demised
property at a monthly rental of Rs. 25000/- (Rupees Twenty Five Thousand only) with effect from 01.06.2016 plus service tax if
applicable.
-3-
1.2. The monthly rental shall be payable by the
TENANT in advance by the 7th day of each English Gregorian Calender
month, by way of a Cheque/Demand Draft favouring the LANDLORD.
1.3. The monthly rental shall be subject to
staturory deductions under the relevant provisions of the various Statutes/laws
@ appropriate rates, as may be applicable, from time to time.
1.4. The
TENANT shall, however, provide the LANDLORD with the details of the deductions
alongwith certificates thereof, in a timely manner.
1.5. The
LANDLORD shall provide the TENANT with a rent-receipt immediately upon receipt
of the monthly rental from the TENANT.
2.
TERM & RENEWAL
2.1
The term of this indenture shall,
unless otherwise renewed, be for a period of 5 (FIVE)
years, commencing from the 1st day of June 2016
and expiring on the 31st day of May 2021
.
2.2 The
term of the instant indenture may be extended for a further term of 5 (FIVE)
years, at the exclusive option of the TENANT, PROVIDED HOWEVER,
that the TENANT exercises such an
option at least 3 months prior to the expiry of the intial term and/or
extended/renewed term of the indenture.
2.3 The
rate of monthly rental during the renewed/extended period shall be minimum 5% over and above the last paid monthly
rental of each extended/renewed term or as mutually
agreed upon between themselves.
2.4 The
parties shall enter into and execute a fresh indenture for each term, duly
incorporating the term and incremental rate of monthly rental as per Clause 2.3
above.
-4-
3.
TERMINATION
3.1 The term of
this indenture shall expire on the 31st day of May 2021 and/or on expiry of
further terms of renewal/period of extension thereof, unless otherwise
renewed /pre-determined.
3.2
The Tenant shall be entitled to terminate/determine the instant indenture or
renewal thereof, by giving
at-least 6 months notice of its intention to terminate/determine this
indenture.
4.
MISCELLANEOUS :
4.1 The
Tenant shall at all times keep the demised property in a good and habitable
condition and shall not make any additions/alterations, structural or
otherwise, nor cause damage to the demised property.
4.2 The
Tenant shall without any default and within the stipulated time, pay to the
concerned authorities the dues towards the charges of consumption of
electricity and water during the period of this indenture or any
extended/renewed period thereof. The Tenant shall forward the copies of the
receipts in respect of the payments of such dues/charges to the Landlord on
demand.
4.3 The
Tenant shall at its costs, take care and attend to all day to day repairs, if
any, to the demised property, provided however, in case of the demised property
requiring any repairs of serious nature the same shall be informed to the
Landlord by the Tenant without any inordinate delay and the Landlord shall take
necessary and appropriate steps/measures to rectify such repairs on priority
basis.
4.4 The
Tenant, shall be entitled to attend to/carry out repairs of serious nature, in
the event of failure on the part of the Landlord to attend to the same and have
the same rectified/repaired, and recover the amounts expended towards the same
from the Landlord from the rent payable by it for the subsequent month.
-5-
4.5 The
Tenant shall not carry-out any illegal-un-authorized activities from the
demised property and/or alienate or part with the whole/any portion of the
demised property to any third party, without prior written permission of the
Landlord.
4.6 The
Tenant shall abide by all the bye-laws, rules & regulations of all
concerned authorities and shall not operate/carry-out activities in derogation
thereof.
4.7 The
landlord shall pay all statutory dues in respect of the subject property and
shall not transfer, convey or sale the demised property in favour of any third
party during the term of this indenture and/or any period of renewal thereof. Provided however, that even in the
event of any such transfer, conveyance or sale of the demised property in
favour of any third
party by the Landlord, the same shall be done with a specific Clause to the
effect that the demised property is being transferred, conveyed or sold with
tenancy of the Tenant, as a "tenanted property" along with the option
of renewal/extension of the terms of tenancy for further period as contained in
this indenture.
5.
NOTICES :
5.1
All
notices shall be sent by Registered A/D or Speed Post at the Registered
Office
and
shall be deemed to have been served after 72 hours from the date of issuance
thereof, if the acknowledgement card is not received back or when sent through
Fascimile Transmission.
6.
ARBITRATION :
6.1 If any dispute or difference, of any kind
whatsoever, arises between the parties, in
7.
connection with
or
arising out of or touching these presents, the same shall be attempted to be settled amicably
inter-se between the parties by mutual negotiations.
-6-
8.
6.2 However,
in the event of the parties failing to reach an amicable settlement, the
same shall be referred to a Sole Arbitrator to be mutually appointed by the
parties, who shall enter upon reference upon receipt of a notice of invocation
of this clause from either of the parties. The arbitral proceedings shall be
held at Pune and the arbitral
award passed by the Sole Arbitrator shall be final & binding on both the
partties. The provisions of the
Arbitration & Conciliation Act, 1996 shall be applicable to the arbitral
proceedings.
7. JURISDICTION :
7.1 The courts at Pune shall have the exclusive jurisdiction over the disputes
arising out of the subject matter arising from
the instant indenture.
9.
IN WITNESS WHEREOF BOTH THE PARTIES HAVE PUT
THEIR RESPECTIVE HANDS ON THE DAY, MONTH
AND YEAR MENTIONED HEREIN BEFORE, IN THE
PRESENCE OF THE FOLLOWING
WITNESSES.
WITNESSES:
1.
LANDLORD
2.
10.
TENANT
Download Rent Agreement Format
0 comments:
Post a Comment