Shop Rent Agreement format in English

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Rent Agreement

This AGREEMENT OF LEASE IS MADE Date and name of first party, hereinafter called the 1^st party ( Which expression shall unless repugnant to the context or meaning thereof include his legal heirs, representative successors, nominees and assigns) of the first party,

and

Second party name and address detail …………………………………………………………………………………………

Whereas the 1^st party is the absolute owner of Address of the rental portion which is going on rent and whereas the owner has agreed to allow the 2^nd party to use and occupy the aforesaid Shop of the Floor the property of the premises which consist of Area of the shop in square feet on the following term and conditions.

NOT THE AGREEMENTDEEDD WITNESS AS UNDER:

1.       That the 1^st party has granted lease of the Shop to the 2^nd party along with the fittings and fixtures as per the Annexure-A attached for the period of 11 months w.e.f. Agreemen start date for their commercial purpose only.

2.       That The 2^nd party shall pay a sum of monthly rent will be here /- (Rs. In words) per month in advance rent as agreed rent to the 1^st party, excluding the amount of electrical charges and society charges which shall be paid by him according to the reading of the meter already fixed for the Flat or as per bills and guidelines.

3.       That the monthly rent shall be regularly paid by the 2^nd party in the first week of the every month in advance and electric charges for the preceding month as mentioned above.

4.       That this rent will include all ground rent municipal taxes except Electricity charges, which will be specifically borne by the 2^nd party as per monthly bills.

5.       That the 2^nd party shall not be let out or not sublet the premises to any one nor use it for any purpose other than residential.

6.       That the damages if any to the Flat and above articles (Annexure-A) will be made good by the 2^nd party at once or at least before vacating the Flat.

7.       That the second party will return the Flat and above mentioned articles fully fit and in perfect working conditions before vacating the Flat in case the 2^nd party (tenant) fails to do so the 1^st party (owner ) will be authorized to do the need full and recover amount from 2^nd party.

8.       That the 2^nd party has agreed to deposit a sum of monthly rent will be here /- (Rs. monthly rent will be here) as Security money (refundable without interest) which is equivalent to 1 month of rent as security deposit, which will continue during the agreement period and will be adjusted against the rent/damage etc. if any due at the time of vacating the premises. Otherwise, the security deposit is refundable at the time of vacating the flat by the 2^nd party.

 

9.        That if the 2^nd party vacates the flat even after prior notice in less than 1 month than the security deposit will be forfeited by the 1^st party (owner) as damage charges.

10.   That this deed shall be terminated on 1(one) month’s notice on either side.

11.   That in case the 2^nd party desires to extend the tenancy after the expiry of 11 months the 1^st party will be entitled to enhancement in rent up to 10% else the tenancy shall stand terminated after 11 months without issue of any notice.

12.   That on the terminated of tenancy the 2^nd party shall hand over vacant peaceful possession of the premises to the 1^st party.

13.   This agreement is valid for 11 months from Date of start of agreement to end of agreement date.

 

In Witness WHEREOF the parties to this agreement have said and signed on the day and year herein above mentioned.

 

1^st party                                                                                                                              2^nd party

Witnesses:                                                                                                                      Witnesses:

1.                                                                                                                                                       1.

2.                                                                                                                                                       2.

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Annexure-A is the list of fixture and fitting which are fitted in the rental property. Make a list of the item.

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