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Rent Agreement Online

A rent agreement online is a legally binding document that outlines the terms and conditions of a rental agreement between a landlord and a tenant. It can be created and signed electronically, making it a convenient and efficient way to establish a rental agreement. The agreement typically includes details such as the rental amount, payment schedule, duration of the lease, security deposit, and any other specific terms that both parties have agreed upon.

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What is Rent Agreement?

What is Rent Agreement?

A tenant and a landlord must put the details of their verbal agreement in writing and have the document registered to give it legal validity in order to formalise the house rental process. The rent agreement or rental agreement is the name of this contract. Note that verbal contracts between a landlord and a renter are not enforceable in court. Additionally, if the rent agreement is not signed and properly recorded, neither the tenant nor the landlord will be able to seek redress from any legal authority in the event of any subsequent issues between the two parties. States could establish rent authority in cities, where landlords and tenants would be required to enter into a rent agreement, under the newly approved Model Tenancy Act 2019 registerd.

A rent agreement typically covers the details of the tenancy, such as the tenant’s and landlord’s names, addresses, the term of the lease, the monthly fee, the duties associated with property upkeep, default fines, etc.

What are the various details that are mentioned in a Rent Agreement?

The various details that are listed in a rent agreement are:

  • Details of both the parties
  • Terms of payment
  • Notice period clause
  • Lock in period duration
  • Date of execution of agreement
  • Purpose of lease: Whether for residential or business purpose
  • Yearly increment terms
  • Annexure: Which includes all the list of items in the house like light, bulb, bed, table, etc.

For details regarding the format of online rent agreement or viewing a rent agreement sample, one can check Rent Agreement Format.

Why is a Rent Agreement necessary?

It is important to have a rent agreement in place to take care of any disputes that may arise between landlord and tenant, due to varied reasons like:

  • Tenant subletting the Property
  • Landlord increasing rent without prior notice
  • Tenant setting up business in the house premises
  • Landlord denying returning the security deposit
  • Tenant damaging the property

Apart from a few of the aforementioned suggestions, there are numerous other disagreements that could occur while tenants are residing in the property. A formal rental agreement that has been approved by the government must be in place in order to handle all such conflicts in advance. The terms and conditions that were agreed upon between the landlord and tenant when renting a property are evidenced by a rent agreement.

Frequently asked questions

Online lease agreements that are signed by both parties and executed on electronic stamp paper are recognised as legal contracts. Online lease agreements are acceptable evidence of address.

You won’t need a hard copy because the entire process is done online. You can download a PDF version of this agreement or request a copy be sent to your email address.

The rent agreement can be digitally signed by the landlord and the renter. You have two options for signing the online lease: either draw your signatures or select the “Customized text” format. Please take note that digital signatures are a secure and legal way to sign documents electronically, including online rental agreements.

The electronic lease agreement is written on paper with a denomination value of Rs. 100.

A 12-month rent period is considered a lease arrangement, and as a result, various laws apply and make the procedure more difficult for both the tenant and the landlord. The regulations pertaining to leases do not apply to rent agreements that are written for a duration of up to 11 months since they fall within the category of leave and licence agreements. There is no registration need for rent contracts with an 11-month term. This also holds true for online lease agreements. Therefore, these documents can be signed and performed online and are legitimate in law.

Currently, the Housing Edge platform offers a pre-existing set of terms that essentially cover every aspect of your online lease. Your online lease agreement allows you to specify the security deposit amount and notice time. Soon, we hope to add more customizations.

An online rent agreement can be made in a matter of minutes utilising the Housing Edge platform.

Using the contact information you provided, the Housing Edge platform sends the link to the second party through email and SMS. We will notify the first party and send them a copy of the audit trail as soon as the online lease is signed.

GST, processing fees, and stamp duty are included in the INR 699 fee for creating an online lease agreement. The stamp duty is paid out of this sum in the amount of Rs 100, with the rest money going towards convenience fees, taxes, etc.

An online rent agreement must have a digital signature in order to be executed, so the signature can be made from anywhere in the world at any time.

Yes, you can add up to 5 renters to a single lease.

Once the online lease agreement has been signed, we will transmit a soft copy of the contract to you along with an audit trail that includes all of the IP addresses, device information, and other information that the other party used to sign the contract.

You can retain the soft copy of the online lease agreement for your records because it is signed and executed digitally. There is no need to print the rental agreement online.

The online rent agreement can be created without the use of any documents. However, keep the landlord’s or tenant’s contact details close at hand because you’ll need them when you’re writing the draught.

According to the Information Technology Act (IT Act), 2000, digital signatures, also known as e-signatures, have the same legal standing as handwritten signatures. Digital signatures are just as legally binding as traditional ones.

For further information on T&C,

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