The Rental Renewal Agreement is a crucial document used in Indian property law when parties wish to extend an existing lease arrangement beyond its initial term. This document type is essential for both residential and commercial properties across India, governed by the Transfer of Property Act, 1882, along with state-specific rent control laws. It serves to formalize the continuation of the landlord-tenant relationship while allowing for updates to rent amounts, tenure, and other terms. The agreement must comply with local registration requirements if the renewal period exceeds 11 months, and appropriate stamp duty must be paid as per state regulations. This document is particularly important in jurisdictions with strict rent control laws, as it helps ensure compliance while documenting any permitted rent increases or modified terms. It typically references the original lease agreement while clearly stating any variations or new conditions that will apply during the renewal period.
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1. Parties: Identification of the Landlord and Tenant with complete details including names, addresses, and contact information
2. Background: Reference to the original lease agreement, its date, term, and current expiry date, establishing the context for renewal
3. Definitions: Key terms used in the agreement, including references to defined terms from the original lease that continue to apply
4. Renewal Term: Specific details of the renewal period, including start date and duration
5. Rent and Payment Terms: Updated rent amount, payment schedule, and any escalation clauses
6. Continuation of Original Terms: Confirmation of which terms from the original lease continue to apply
7. Modified Terms: Clear statement of any terms that are being changed from the original lease
8. Registration and Stamp Duty: Provisions regarding responsibility for registration and payment of stamp duty as per local laws
9. Governing Law: Specification of applicable state laws and jurisdiction
10. Execution: Signature blocks and execution requirements
1. Security Deposit Adjustment: Include when there are changes to the security deposit amount or terms
2. Maintenance and Repairs: Include when responsibilities for maintenance and repairs are being modified
3. Utilities and Services: Include when there are changes to responsibility for utility payments or new services
4. Property Modifications: Include when permitting or restricting specific modifications to the property
5. Insurance Requirements: Include when there are new or modified insurance obligations
6. Sub-letting Provisions: Include when addressing or modifying rights to sub-let
7. Break Clause: Include when incorporating early termination options
8. Force Majeure: Include when specific provisions for unforeseen circumstances are needed
1. Schedule 1 - Property Details: Detailed description of the property including any modifications since original lease
2. Schedule 2 - Rent Payment Schedule: Detailed breakdown of rent payments and escalation timeline
3. Schedule 3 - Inventory List: Updated list of furnishings and fixtures if property is furnished
4. Schedule 4 - Maintenance Responsibilities: Detailed split of maintenance responsibilities between parties
5. Appendix A - Original Lease Agreement: Copy of the original lease agreement for reference
6. Appendix B - Property Inspection Report: Current condition report of the property at renewal
7. Appendix C - Compliance Certificates: Updated safety and compliance certificates where required
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