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Rent Agreement For Commercial Use Template for India

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Key Requirements PROMPT example:

Rent Agreement For Commercial Use

"I need a Rent Agreement For Commercial Use for a retail space in Mumbai's Fashion Street area, starting March 2025, with specific provisions for 24/7 operation and signage rights for my fashion boutique, including a 3-year lock-in period."

Document background
The Rent Agreement For Commercial Use is a vital legal instrument in the Indian commercial real estate sector, essential for businesses seeking to lease commercial spaces for their operations. This document is governed by multiple Indian legislations, including the Transfer of Property Act, 1882, the Registration Act, 1908, and state-specific rent control laws. It serves to protect the interests of both landlords and tenants by clearly defining their rights, obligations, and responsibilities. The agreement typically covers crucial aspects such as rental terms, security deposits, maintenance responsibilities, permitted business activities, and termination conditions. It's particularly important in India's growing commercial sector where proper documentation is crucial for legal compliance and dispute prevention. The document must be properly stamped and registered when the lease term exceeds 11 months, making it a legally enforceable instrument in Indian courts.
Suggested Sections

1. Parties: Details of the landlord/lessor and tenant/lessee including names, addresses, and business registration details

2. Background: Brief context about the property and the parties' intention to enter into a commercial lease arrangement

3. Definitions: Definitions of key terms used throughout the agreement

4. Premises Details: Detailed description of the leased property including address, dimensions, and permitted usage

5. Term and Renewal: Duration of the lease, commencement date, and conditions for renewal

6. Rent and Payment Terms: Rental amount, payment schedule, security deposit, and escalation clauses

7. Maintenance and Repairs: Responsibilities of both parties regarding property maintenance and repairs

8. Utilities and Operating Expenses: Assignment of responsibility for utilities, taxes, and other operating costs

9. Use of Premises: Permitted business activities and restrictions on property usage

10. Insurance and Indemnity: Insurance requirements and indemnification obligations

11. Default and Remedies: Events of default and available remedies for both parties

12. Termination: Conditions and procedures for early termination

13. Governing Law: Applicable laws and jurisdiction

14. Notices: Method and addresses for official communications

15. General Provisions: Standard boilerplate clauses including force majeure, severability, and entire agreement

Optional Sections

1. Fit-out Period: Terms for initial renovation period before lease commencement, used when premises require modification for tenant's use

2. Signage Rights: Rules regarding external and internal signage, relevant for retail or branded office spaces

3. Parking: Allocation of parking spaces and related terms, included when parking facilities are available

4. Common Areas: Rules for shared facilities, relevant in multi-tenant buildings

5. Subletting and Assignment: Terms for transferring or sharing the premises, included when such rights are granted

6. Environmental Compliance: Special provisions for environmentally sensitive operations or industries

7. Right of First Refusal: Tenant's rights regarding property sale or re-letting, included in long-term strategic leases

8. Lock-in Period: Minimum commitment period, included when parties want to ensure tenure stability

Suggested Schedules

1. Schedule A - Property Description: Detailed property specifications, floor plans, and boundaries

2. Schedule B - Rent Schedule: Detailed breakdown of rent, escalations, and payment milestones

3. Schedule C - Inventory List: List of fixtures, fittings, and equipment included in the lease

4. Schedule D - Maintenance Schedule: Detailed maintenance responsibilities and schedules for both parties

5. Schedule E - House Rules: Building rules and regulations, particularly relevant for multi-tenant properties

6. Appendix 1 - Registration Documents: Copies of property ownership documents and necessary permits

7. Appendix 2 - Insurance Requirements: Detailed insurance specifications and coverage requirements

8. Appendix 3 - Handover Protocol: Procedures and checklist for property handover at start and end of lease

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈ˰æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions








































Clauses



































Relevant Industries

Retail

Office Space

Information Technology

Manufacturing

Healthcare

Hospitality

Education

Financial Services

Logistics and Warehousing

Professional Services

Entertainment and Media

Food and Beverage

Telecommunications

Consulting

Relevant Teams

Legal

Finance

Operations

Facilities Management

Administration

Risk Management

Compliance

Corporate Services

Procurement

Real Estate

Business Development

Relevant Roles

Chief Executive Officer

Chief Financial Officer

Facilities Manager

Real Estate Manager

Legal Counsel

Operations Director

Business Development Manager

Administrative Manager

Property Manager

Procurement Manager

Risk Manager

Compliance Officer

Branch Manager

Store Manager

Office Manager

Finance Director

General Counsel

Corporate Services Manager

Industries







Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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