We help you establish a valid lease. All you need to do is register on our website, search for rental agreements and fill out the necessary details. And go for it! You have a lease. Not only that, our services are also sufficient to offer a plethora of legal documents tailored to your needs. Our site is easy to use, comfortable and will certainly prove very effective and effective. So stop waiting in your law firm and look for LegalDesk.com! One of the best and best ways to make money is to rent a property. If the property is empty, the owner can rent it to someone. But the most important thing in renting a property is the lease. In this article, we will examine why the lease is only for 11 months and not for 12 months or more. First of all, let us understand what the lease is? The lease is also called a lease agreement. It is a document or a written contract between the owner of a property (owner) and the tenant who rents it. It defines the terms and conditions on the basis of which the property is leased, such as address, nature and size, i.e. description of the property, monthly rental, deposit, purpose of the use of the property, whether commercial or residential activities and duration.
In the event of a dispute over the property between the landlord and the tenant, the tenancy agreement acts as evidence. Terms and conditions can be negotiated, but after signing and also, it is mandatory for the landlord and tenant. Even the terms of the termination of the agreement are mentioned. Why is the lease only for 11 months? To avoid these fees, many landlords and tenants mutually agree not to register the agreements. If you want to register a rental agreement, tenants and landlords can agree to share their costs. If the agreement contains a security deposit, add Rs100 and Rs1.100 as a registration fee, bringing the total cost to Rs 6,240. The fees of lawyers or other intermediaries for all documents are not taken into account. In a recent ruling in 2014, the Karnataka Supreme Court ruled that 11-month agreements can no longer be presented in evidence in court, like any real estate transaction.
Therefore, if a property dispute arises and that particular dispute is settled by an 11-month agreement, the agreement cannot be used as evidence by the courts for any purpose. “From a monetary point of view, it would be costly for a tenant to enter into leases for a period of more than 11 months.