Simplify Your Rental Journey: Seamless Online Agreements for Pune Residents
Unlocking the Convenience: Online Rental Agreement Made Simple
Simplified Online Rental Agreements in Pune: Streamlining Your Rental Process
Are you a landlord or a tenant in Pune looking for a hassle-free way to manage your rental agreements? Say goodbye to the complexities of traditional paperwork and embrace the convenience of online rental agreements tailored specifically for Pune residents.
What is Online Rental Agreement or Online Leave & License Agreement?
Leave and license agreement, defined in section 52 of Indian Easements act,1882, introduced by Maharashtra government, is a formal contract between the licensor and a licensee that defines the scope and length of the license and other terms and conditions of license. It is a permissive right granted to a person to use the property in a certain way while the property remains in the possession and ownership of the owner of the property. The license is usually signed for eleven months and can further be renewed. The agreement should list all key issues and the consequences for violating those issues. Any action taken which is against the license is considered as unlawful.
In Maharashtra, the residential and commercial real estate rentals are majorly executed under Leave and License agreement. Thus, the registration of the agreement is important which can further serve as a proof in Court in case of any clash between the parties. However, in the absence of such agreement, the validity and enforceability of the agreement will not be considered.
Essential elements/clauses in a Leave and License Agreement
Some of the basic important elements to look up for in an agreement are as follows:
- Names of parties – The names of both the licensor and licensee should be mentioned in an agreement. Ensure the person representing himself as the owner of the property is actually the owner.
- Address of parties – Full current and permanent address details of both parties are required.
- Tenure of the agreement – The duration of the agreement is usually eleven months and can further be renewed once it expires.
- Mode of Payment – The agreement should mention the amount and time period by when the rent is to be paid. Ideally, all payments should be made by cheques to avoid any hassles. The agreement should also mention the penalties to be paid by the licensee in case of late payments.
- Lock-in-period – It is a predetermined amount of time period during which both the parties are restricted to terminate the agreement. If the agreement includes this clause, then the tenant is expected to abide by it or else he may be penalised for breaking the clause.
- Repairs and maintenance – The agreement should clearly mention the clause and guidelines stating the permission to make any alterations or repairs to the property. The expenditures for the fixtures can be adjusted from the security amount or can be later reimbursed. The agreement should also mention the clause that ensures that the property is to be maintained in a proper manner. The licensee can be penalised for violating any clause or causing any damage.
- Security amount – The licensee is expected to pay few months’ security in advance. The owner has the right to deduct certain amount from the security for causing any damage or terminating the agreement before the tenure period. The remaining amount need to be returned by the owner within a specified time period.
- Revised rent – An agreement also includes a clause stating the yearly increase in rent, which is usually between 5 to 10 percent. However, the percentage may vary as per the market rates or as per both parties’ mutual decision.
Documents required for registration of agreement
For registration, following documents are required each for landlord, tenant, and witness:
- Passport-size photograph
- Photocopy of identity proof
- Electricity bill
Cost of Registration
Maharashtra government has made it mandatory to register the Leave and License Agreement and it is the responsibility of the property owner or Licensor to pay stamp duty under section 36 A of the Bombay Stamp Act, 1958.
Stamp duty = 0.25 % on the complete rent (non-refundable) OR
10% of refundable deposit (for each year)
The registration fee ( in Maharashtra ) depends on the location of the property.
Property under Municipal Corporation
Property in Rural area
Ideally, the registration fee consists of documentation charges, Government fee, stamp duty, and vendor fee.
How the registration of Leave and License agreement is done?
The registration of Leave and License agreement is done in two ways:
- Manually ->Both thelicensor and the licensee along with two witnesses have to visit the sub-registrar office and submit all the address and id proofs of themselves (Aadhaar and PAN numbers) and also of the property to be rented out. These proofs are recorded in government database which are then verified by the authorities. The nearest local police station is also handed over the copy of leave and license agreement.
- Online -> The Department of Stamps and Registration (State of Maharashtra) provides a facility to register the agreement online. All the licensor has to do is enter the data on on government portal (efilingigr.maharashtra.gov.in), sign it, and submit it for registration. The module also facilitates the party to calculate the stamp duty and registration fee, which are to be submitted online therein. He will then receive the status of his application via SMS.
Once the agreement is approved by the sub-registrar office, the parties can download the agreement from the portal itself.
Prerequisites for online registration
- Biometric device (for finger scan)
- Webcam (for photo scan)
- Internet explorer 9 or above
- Aadhaar number of all the parties and their witnesses
Why Lisa Home Solutions is best option for online rental agreement?
Since last 14 years, we are striving hard to deliver scalable and affordable solutions for all kinds of services. Our highly expert and skilled team is here to help you with the best services possible. All the legal formalities or follow-ups for the registration process are taken care of by LHS.
LHS being an authorised service provider guarantee you with timely service at your doorstep at minimal rates.
Frequently Asked Questions
Most frequent questions and answers
What is the benefit of online agreement?
Going online with paperless work saves your time and money in terms of printed copies and travel expenses. It enables one to register the agreement online without going to the sub-registrar office. Also, you can securely save and store the online copy of the agreement.
In addition, the customization or revisions of the clauses or terms in the agreement can easily be done in digital copy.
What is the difference between offline and online agreement?
The registration of the agreement can be done offline or online. Offline registration is done by filling the agreement and submitting it along with the stamp duty. Both the parties along with witnesses need to be present at the sub-registrar office.
Online agreement goes through the valid legal process defined by the government. Parties have to provide required information along with valid photos and proofs.
Do I need to visit the office for registration or it can be done from home?
The registration can be done at your doorstep on your convenient time. Our agent will visit your place on the scheduled day and will carry out the procedure therein. Within 3-4 working days, the digital copy of the agreement will be mailed to you.
What if, I want some clauses of my own which are not the part of standard online agreement?
In that case, you can add your terms or your clauses in the miscellaneous section of the agreement.
Get the Rental Agreement delivered at your door-step!
Our team will get in touch with you and they will visit your place to get your signature and thumb impression. After this the agreement will be delivered at your door-step