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Leave and License / Rent Agreement  Frequently Asked Questions.  1. What happens if I rent without an agreement? There needs to be legally valid documentation of the terms and conditions of the rental agreement. The lease agreement or rent agreement needs to be in a specific format as per certain convention and laws.  Failure to have a rent agreement signed by both the parties will lead to legal inefficiencies in the case of a dispute. 2. What is the stamp duty denomination? A stamp duty paid rental agreement is considered a proper and legally valid document, has evidentiary value as it is admitted as documentary evidence in courts.  The rental agreement draft should be printed on a stamp paper of suitable stamp value according to the Stamp Act of each State to make it legally valid. 3. Why is a rental agreement only for 11 months? It is rather a convention that is being followed by landowners to seal rental/lease agreements only for 11 mont...

Rent Agreements are for 11 months: But Why? Have you ever rented a property or lived in a rented house then you must have signed a rent agreement. Isn’t it for 11 months only? Let's study through this article why rent agreements are of 11 months only and not for 12 or more months. One of the best and better methods of earning money is to rent a property. If the property is lying vacant then the owner can rent it to someone. But the most important thing while renting a property is the rent agreement. In this article, we will study why rent agreement is only for 11 months and not for 12 or more months.  First, let us understand what is rent agreement? Rent agreement is also known as the  lease agreement . It is a document or a written contract between the owner of a property (landlord) and the tenant who takes it on rent. It specifies the terms and conditions based on which the property is let out, like address, type, and size i.e. description of the property...