Before registering the tenancy agreement, the tenant and landlord may be required to present the leaking documents The tenancy agreement is nothing more than a reciprocal contract between the tenant and the landlord, in which the landlord gives the tenant the right to occupy dwellings for a fixed term. The lease can be made orally or in writing. However, as the lease plays an important role in maintaining a good relationship between the landlord and the tenant, it is highly recommended to be in writing. The important advantage of the written tenancy agreement is that it defines all the conditions agreed upon by both the tenant and the landlord before and after the tenant`s accommodation. Once the tenant and landlord agree and sign the contract, it can no longer be changed unless the landlord and tenant agree. In order to promote rentals in India, the government has drafted a draft directive, the Model Tenancy Act, 2020, to make the transaction advantageous to both landlords and tenants. The provisions of this model policy should be the guiding principles for the development of a lease agreement. According to the union secretary, the policy, which will likely soon replace existing rental housing laws across India, will unlock via a Crore apartment on rental markets in India. If the landlord and tenant argue in the future, the lease will be the piece of resistance to this battle. However, there are a few factors you need to keep in mind – In recent years, especially with the boom in the IT industry, many MNCs have come out in the city of Hyderabad to pave the way for new careers, resulting in tons of people moving to Hyderabad in search of jobs and better opportunities. And this eventually led to a huge demand for rental properties in exchange for leases. Note here that notarized certified rentals are not identical to registered documents. In the event of a dispute between the landlord and the tenant, the court will not accept a notarized agreement as proof.
It is therefore important to register the rental agreement correctly. In the city of Hyderabad, the rental period is usually 11 months and can be extended later at the end of the 11th month.