Rental Agreements

Rental agreement in Bangalore

Are you relocating to Karnataka’s Bangalore? This is a beautiful city with amazing tourist attractions and great weather. The city is growing quickly in a number of areas, most notably IT. One of the great reasons Bangalore is becoming more and more popular with individuals from around the world is the wonderful job possibilities that are being generated there at a rapid pace. As a result, more individuals relocate to Bangalore, which increases the demand for rental properties. Even though there is space for everyone in the city, you still need to be aware of the correct rental procedures.

Process for signing a rental agreement in Bangalore, Karnataka

Create the agreement and print it on the appropriate value stamp paper.

The agreement must be signed by the tenant and the owner in front of two witnesses.

The document must also be signed and attested by the two witnesses. After that, it is registered at the sub-registrar office by paying the required registration fees.

Stamp duty

This is the tax that is imposed in order to give legal papers legal validity. The highest stamp duty that can be applied to a rental agreement in Bangalore is INR 500. Usually, this is computed in the manner described below.

1% of yearly rent plus a deposit for up to ten years
After ten years: deposit plus 2% of the monthly rent

Rental agreement online

The rental agreement is done easily through online in Bangalore; you can easily do it without the help of any broker or any service providers. You need to enter the following information in our portal:

Aadhar card and pan card number of the tenant, landlord, and the two witnesses
Biometric thumb scanner
Fill up all the necessary information at government website about the property details
After filling the property details move to the next page and fill the details about the parties (landlord, tenant and witness parties)
Move to the rent agreement details
Enter the important information about the agreement such as the agreement period, duration, rent; tenure (can be up to 60 months)
Depending on the rent agreement, calculate the stamp duty and registration fee. You can easily pay it online
Notice period
Lock-in period
Maintenance clause

Rental agreement format

Drafting your agreement is very difficult because you may not know much about the details or lack of experience. At the same time hiring a professional may cost more. So, here is excellent news for you. You can quickly get the rental agreement format online that have been drafted by the highly qualified professionals. You can make use of these templates to protect yourself from the rental scam.

Commercial office rental agreement

The small business owners sometimes do not have enough capital to buy the space to begin their business. For such startup business people, the commercial office rental agreement is the boon. This lease lets the business people rent a property in the same way how the houses are taken under rent. Under this condition monthly rent must be paid to the landlord for using the premises. Here few rules and charges are laid for both landlord and businessman.

11-month rental agreement

In Bangalore city, the period of renting is usually 11 months, and later it can be renewed at the end of the 11th month. The tenant must pay the rent and additional charges such as the electricity bill, water bill according to the usage.

Long term lease agreement

This is one of the popular methods of renting. In this, the tenant will pay the lump sum amount to the landlord as the one-time deposit for a certain period for example 2 years or 3 years. In this case, the tenant or lessee need not required to pay any monthly rent for the landlord; they must pay only extra charges such as the electricity and water charges every month. At the end of the lease period, the landlord must return the deposit without interest.