Rent Agreement Format in Word

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Sample Template Example of Legal Rent Agreement Between Landlord / Owner & Tenant For Flat / Home / House / Godown / Shop / Office etc. in Word / Doc / Pdf Free Download


Rental Contact Between Two Parties ( Company & Owner) For Commercial Office Space

RENT AGREEMENT

THIS RENT AGREEMENT is executed at Pune  on  31st  day  of May 2016,               between  ************(Owner Name),  a  company duly incorporated under the                 Companies Act, 1956 having its Registered Office at *************** (Owner Address), hereinafter referred to as the "LANDLORD" which term shall, unless repugnant to the context hereof, mean and include its successors-in-interest, administrators, executors, permitted assigns etc., the party of the FIRST                 PART.

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AND

********************(Tenant Name), a company duly incorporated under the Companies Act, 1956 having its Registered Office at ****************(Tenant Address), hereinafter referred to as the "TENANT" which term shall, unless repugnant to the context hereof, mean and include its successors-in-interest, administrators, executors, permitted assigns etc., the party of the SECOND PART.

WHEREAS the LANDLORD is the absolute owner in possession of the entire property situated  at ************************ ( Godown / Shop / Flat Address), hereinafter referred to as the "said Property" .

AND WHEREAS  the LANDLORD has an area of approximately  8.55 Bighas which is otherwise vacant and can be put to commercial use ;

AND WHEREAS  the TENANT is on the look-out for an area of approximately  1000 sq.ft. of area for the purpose of operating the same as its “Godown cum Office and in furtherance thereof, has approached the LANDLORD seeking to take on rent, an area of 1000 sq.ft.of the the said property.

AND WHEREAS the LANDLORD is agreeable to give on rent an area of 1000 sq.ft. of the said property (hereinafter referred to as the "demised property"),  as desired by the TENANT for being used as Godown cum Office space on the terms and conditions set out more particularly in this indenture.

NOW THEREFORE BOTH THE PARTIES AGREE TO BE BOUND BY THE FOLLOWING TERMS AND CONDITIONS, WHICH HAVE BEEN MUTUALLY DISCUSSED AND SETTLED, INTER-SE BETWEEN THEMSELVES, AS UNDER :-
1.    RATE OF RENT
1.1.    The LANDLORD has agreed to let-out/give on rent to the TENANT and the TENANT has agreed to take on rent the demised property at a monthly rental of Rs. 25000/- (Rupees Twenty Five Thousand only) with effect from 01.06.2016 plus service tax if applicable.
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1.2.    The monthly rental shall be payable by the TENANT in advance by the 7th day of each English Gregorian Calender month, by way of a Cheque/Demand Draft favouring the LANDLORD.

1.3.    The monthly rental shall be subject to staturory deductions under the relevant provisions of the various Statutes/laws @ appropriate rates, as may be applicable, from time to time.

1.4.    The TENANT shall, however, provide the LANDLORD with the details of the deductions alongwith certificates thereof, in a timely manner.

1.5.  The LANDLORD shall provide the TENANT with a rent-receipt immediately upon receipt of the monthly rental from the TENANT.

2.    TERM & RENEWAL
2.1   The term of this indenture shall, unless otherwise renewed, be for a period of 5 (FIVE) years, commencing from the 1st day of June 2016 and expiring on the 31st day of May 2021 .

2.2  The term of the instant indenture may be extended for a further term of 5 (FIVE) years, at the exclusive option of the TENANT, PROVIDED HOWEVER, that the TENANT  exercises such an option at least 3 months prior to the expiry of the intial term and/or extended/renewed term of the indenture.

2.3  The rate of monthly rental during the renewed/extended period shall be minimum 5% over and above the last paid monthly rental of each extended/renewed term or as mutually agreed upon between themselves.

2.4  The parties shall enter into and execute a fresh indenture for each term, duly incorporating the term and incremental rate of monthly rental as per Clause 2.3 above.   


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3.    TERMINATION
     3.1 The term of this indenture shall expire on the 31st day of May 2021 and/or on expiry of  further terms of renewal/period of extension thereof, unless otherwise renewed /pre-determined. 

  3.2 The Tenant shall be entitled to terminate/determine the instant indenture or renewal thereof, by giving at-least 6 months notice of its intention to terminate/determine this indenture.

4.       MISCELLANEOUS :
4.1 The Tenant shall at all times keep the demised property in a good and habitable condition and shall not make any additions/alterations, structural or otherwise, nor cause damage to the demised property.

4.2 The Tenant shall without any default and within the stipulated time, pay to the concerned authorities the dues towards the charges of consumption of electricity and water during the period of this indenture or any extended/renewed period thereof. The Tenant shall forward the copies of the receipts in respect of the payments of such dues/charges to the Landlord on demand.

4.3 The Tenant shall at its costs, take care and attend to all day to day repairs, if any, to the demised property, provided however, in case of the demised property requiring any repairs of serious nature the same shall be informed to the Landlord by the Tenant without any inordinate delay and the Landlord shall take necessary and appropriate steps/measures to rectify such repairs on priority basis.

4.4 The Tenant, shall be entitled to attend to/carry out repairs of serious nature, in the event of failure on the part of the Landlord to attend to the same and have the same rectified/repaired, and recover the amounts expended towards the same from the Landlord from the rent payable by it for the subsequent month.



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4.5 The Tenant shall not carry-out any illegal-un-authorized activities from the demised property and/or alienate or part with the whole/any portion of the demised property to any third party, without prior written permission of the Landlord.

4.6 The Tenant shall abide by all the bye-laws, rules & regulations of all concerned authorities and shall not operate/carry-out activities in derogation thereof.

4.7 The landlord shall pay all statutory dues in respect of the subject property and shall not transfer, convey or sale the demised property in favour of any third party during the term of this indenture and/or any period of renewal thereof. Provided however, that even in the event of any such transfer, conveyance or sale of the demised property in favour of any third party by the Landlord, the same shall be done with a specific Clause to the effect that the demised property is being transferred, conveyed or sold with tenancy of the Tenant, as a "tenanted property" along with the option of renewal/extension of the terms of tenancy for further period as contained in this indenture.          

5.       NOTICES :
                5.1  All notices shall be sent by Registered A/D or Speed Post at the Registered Office 
    and shall be deemed to have been served after 72 hours from the date of issuance thereof, if the acknowledgement card is not received back or when sent through Fascimile Transmission.

6.       ARBITRATION :
         6.1  If any dispute or difference, of any kind whatsoever, arises between the parties, in
7.                                  connection  with  or arising out of or touching these presents,  the same shall be             attempted to be settled amicably inter-se between the parties by mutual negotiations.






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8.                                    6.2  However,  in the event of the parties failing to reach an amicable settlement, the same shall be referred to a Sole Arbitrator to be mutually appointed by the parties, who shall enter upon reference upon receipt of a notice of invocation of this clause from either of the parties. The arbitral proceedings shall be held at Pune and the arbitral award passed by the Sole Arbitrator shall be final & binding on both the partties.  The provisions of the Arbitration & Conciliation Act, 1996 shall be applicable to the arbitral proceedings.   


7.        JURISDICTION :
                 7.1  The courts at Pune shall have the exclusive jurisdiction over the disputes arising                              out of the subject matter arising from the instant indenture.
9.                            
 IN WITNESS WHEREOF BOTH THE PARTIES HAVE PUT THEIR RESPECTIVE HANDS ON THE  DAY, MONTH AND YEAR MENTIONED HEREIN BEFORE, IN THE  PRESENCE  OF THE FOLLOWING WITNESSES.

WITNESSES:

1.

                                                                                                                                                  LANDLORD
2.
10.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     TENANT


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