Rental Agreement Draft

Rental Agreement

(Leave & License)

This Rental Agreement is made on 25 July 2026 at ____________ between:

____________, residing at ____________(hereinafter the “Landlord”), of the ONE PART;

AND ____________, permanently residing at ____________(hereinafter the “Tenant”), of the OTHER PART.

The Landlord is the lawful owner of the premises at ____________(the “Premises”) and has agreed to let it to the Tenant on the following terms:

1. Term. The tenancy is for 11 months commencing 25 July 2026 and ending 24 June 2027, renewable by mutual consent.
2. Rent. The Tenant shall pay a monthly rent of ₹25,000, payable on or before the 5th of each month.
3. Security Deposit. The Tenant has paid an interest-free refundable deposit of ₹50,000, refundable at vacating after adjusting lawful dues and damages beyond normal wear and tear.
4. Increment. On renewal, the rent may be increased by up to 5% per annum.
5. Furnishing. The Premises is handed over semi-furnished. An inventory of fittings, if any, forms part of this agreement.
6. Lock-in. Neither party may terminate within the first 6 months (lock-in). Early exit by the Tenant within lock-in forfeits rent for the balance lock-in period.
7. Notice. After lock-in, either party may terminate by giving 2 months’ written notice, or rent in lieu.
8. Utilities. Electricity, water, gas, internet and maintenance/society charges on usage are borne by the Tenant. Structural repairs and property tax are borne by the Landlord.
9. Use.The Premises shall be used for lawful residential purposes only and shall not be sub-let or assigned without the Landlord’s written consent.
10. Inspection.The Landlord may inspect the Premises with 24 hours’ prior notice at a mutually convenient time.
11. Jurisdiction. Disputes are subject to the courts at ____________.

IN WITNESS WHEREOF the parties have signed this agreement on the day and year first above written.