10 Must Have Rental Agreement Clauses For Your Office Space

The biggest expense in real estate is the opportunity cost! The statement can be justified with great confidence in today’s scenario when buying a property can be an expensive affair. The concept of Investment in Houses seems lost to today’s smart generation as it also adds additional monthly expenses like maintenance, insurance fees, taxes and more.  ‘Rent’ is an easy way out. As opposed to the gigantic investment required for buying a property, not to mention the maintenance and other trivial charges, Rent is undoubtedly a convenient option. Renting a property may seem a bit simple with so many intermediaries like brokers, online platforms, but keep a vigil on the various basic and critical clauses to be incorporated in the formal rent agreement. Your stay as a tenant can be smooth only when you have the awareness and incorporation of all the mutually agreed clauses.

Defining Rent Agreement

It is a mutual agreement between the owner, termed as “Lessor”, and the tenant, termed as “Lessee”, to rent a property. The provisions relating to control of rent are specified in the “Maharashtra Rent Control Act 1999”.