RENTAL
AGREEMENT
(for Business)
THIS RENTAL AGREEMENT executed at (Place) on (Place) between,
Selvan/Selvi/Mr/Mrs.(Name),
S/o. Selvan/Selvi/Mr/Mrs (Name), residing at _________, hereinafter referred to
as the OWNER which expression, where the context so admits, shall include her
heirs executors, legal and assigns of the ONE PART.
TO AND IN FAVOUR OF
Selvan/Selvi/Mr/Mrs.(Name),
S/o. Selvan/Selvi/Mr/Mrs (Name) (Aadhar No._________)
Proprietor of __________ residing at No.__________. Hereinafter
referred to as the TENANT, which expression, where the context so admits, shall
include his heir, executors, legal and assigns of the OTHER PART.
WHEREAS the owner is the absolute owner of the house premises
bearing (Business Name) in No.(Place).
WHEREAS the Tenant approached the Owner to let out one portion
of the said place in (address), _____ sq.ft. for the purpose of Rental commercial and the owner agreed to let
out one portion of said premises subjects to the condition set out hereunder.
NOW THIS AGREEMENT OF
TENANCY WITNESSETH THAT:
1. The rent shall
commencing from _____ to _____.
2. The Tenant has paid an amount of Rs._____/-
(Rupees _____only) returnable on vacation of the let out property, Same amount
will be return without interest at the time of vacating the house.
3. The Tenant shall pay the monthly rent of Rs._____/-(Rupees
_____only) + maintenance charges Rs._____/-
per month payable on or before __th day of every month.
4. The Tenant shall not do any alteration or
additions to the said house, without the consent in writing of the land.
5. The Electricity charges will be paid by
the tenant to the local authorities, concerned as per the consumption in TNEB
Meter reading without default. Consumer No. _____.
6. The Tenant shall pay the rent according
to the English Calendar Months on or before __th day of every month only
account transfer.
7. The premises shall be used solely for the
operation of (Business activity) and related activities. The Tenant agrees not
to use premises for any illegal activity or any use that would cause a
disturbance.
8. The tenant is required to maintain liability
insurance covering the clinic’s operation and any other necessary insurance
(e.g., property insurance, malpractice insurance).
9. The Tenant shall
not sub-let the said premises either in whole or in part.
10. At the time of vacating the house, the tenant
should leave the shop as it is today (including inner whitewash)
11. Building Tax must be paid only by the
Owner. The Tenant don't have any rights to pay the Building Tax for any reason
of purpose.
12. The Party of the First Part shall be
entitled to inspect the premises at any time on previous notice.
13. The demised portion of the premises shall
be used only for commercial purpose.
14. The Tenant will carry out day to day
repairs such as fuses, leakage of water taps etc., as their own cost, but major
repairs such as leakage in electricity, bursting on sanitary pipes, and cracks
will be done by the Owner at his cost.
15. The Tenancy may be
terminated at Three Months Notice on either side.
16. The Tenancy is for period of Eleven months
only which expires on __th (month and year): After the expiry of this rental
agreement the same can be extended for further period of Eleven months and both
the parties shall enter into fresh rental agreement. Rental value increase
10%
SCHEDULE
(Business Name) in (address).
_____ sq.ft – _____ Floor – _____ PORTION.
IN WITNESS WHEREOF, THE
PARTIES HERE UNTO HAVE SIGNS ON THE DAY MONTH AND YEAR WRITTEN ABOVE.
