Online Rent Agreement, Lease Agreement

Everything You Want to Know About Rental Agreements in Mumbai

If you are renting a house in Mumbai for the first time in your life, you may be a bit sceptical about the procedure. Firstly, you will have to search for a place of your choice, see if there is any brokerage, and then prepare your moving-in. Besides this, the owner will ask you to get your rental agreement done within the first week of your shifting.
Now, many of us may see a rental agreement as a formality; however, it is more than useful and can work in your favour during unwanted legal issues. Besides this, if your company allows compensation on the rental properties, you may have to show your rental agreements to avail the benefits. For the house owners, rental agreements can serve as proof that the property is registered under your name and that the tenants have to abide by the rules set by you.
Different states in India have their own laws when it comes to rental agreements. For instance, the Rent Control Act in Maharashtra was introduced in 1999. These laws play an integral part in the case of property disputes between the owner and the tenant.

What are the Features of the Rental Agreement for Tenants and Homeowners in Mumbai?

Under the rental laws of Mumbai, tenants get security from illegal eviction, and the homeowners have the security of their property. Some of the features of the rental agreements are as follows:

• The rental laws save tenants from paying unfair rents. Under the rental agreement laws in Mumbai, an owner cannot ask for more rent other than the standard per square feet rate.
• Under the rental agreement laws, a homeowner cannot evict a tenant, due to any sort of discrimination—caste, creed, colour, gender, etc.
• The laws also reserve the rights of the homeowners. In case, a tenant does not oblige with the rules that the owner has set or does not pay the rent on time, the owner holds the right to terminate the agreement and evict the tenant

What are the Registration Provisions for Rental Agreements in Mumbai?

Given the traction that the real estate and the rental property market in Mumbai have been receiving, the laws pertaining to the rental agreements are more stringent here. In other states, under Section 17, as stated by the Indian Registration Act, any property that is out for rent for 12 months or more requires registration.
As opposed to this, the Registration Act (Section 55) of Maharashtra says that any form of tenancy requires to be in writing, regardless of the tenancy period. According to the law, it is under the purview of the property owner to ensure that the rented property gets a registration. If not, the landlord may have to pay a fine of Rs. 5,000 and is even becomes eligible for three months of imprisonment.

What are the Documents Required for Registration of a Rental Agreement?

In order to create a rental agreement, you will require some of the basic documents.
For Tenants:

• Passport-size photographs
• Photocopy of identity proof (PAN card, Aadhar card, election card, passport, etc.)
• Original identity proof for verification

For Landlords:

• Passport-size photographs
• Photocopy of identity proof (PAN card, driving license, Aadhar card, etc.)
• Original identity proof for verification
• Electricity bill or tax receipt of the property

For Witnesses

• Passport-size photographs
• Photocopy of identity proof (PAN card, Aadhar card, election card, passport, etc.)
• Original identity proof for verification

What are the Ways to Get Rental Agreement Done in Mumbai?

Basically, there are many ways you can choose to get your rental agreement done. You can hire a lawyer and ask him to set the terms and conditions for the rental property, or you can do it on your own. You can set the terms of the rental agreement through online portals like NoBroker.

Offline Mode of Rental Agreement:
If you are not very keen on using the prowess of digitized rental agreement process, you can hire a lawyer, who can prepare a rental agreement for you. Below are some of the steps that you will need to get your rental agreement done:

• Discuss the terms and conditions of the property with your tenant. Decide on who has to pay the electricity bills and repair cost. Note down the pointers and ask your lawyer to create a formal agreement on the same. He will typically take a day or two and send the agreement back to you and your tenant for approval. Read the document carefully and if you need any changes, ask him for the edits.
• Once the agreement is ready, the lawyer will get it stamped and send it you for the signature. Again, read the agreement carefully. Check the amount of security deposit, lock-in period, and rental amount. Once you have verified and both you and the tenant are on the same page, sign the document.
• Next, call for a biometric verification service to take your thumb impression for the verification of your identity and signature.
• After the registration of the rental agreement, you need to schedule an appointment for the police verification.
• On successful completion of all the steps, you will receive your agreement, and your property is ready to shed money for you.

Online Mode of Rental Agreement:
If you want to cut down on the hassles that come with the offline mode, you can simply opt for the online rental agreement creation process. Below you will find a step-by-step process to create a rental agreement in Mumbai:

• Visit the e-filing website (Use https://efilingigr.maharashtra.gov.in/ereg/)
• Go to the New Entry section and fill in the required details. After the creation of the profile, the site will direct you to the property details page. Here you will have to furnish details such as the address of the property, unit area, unit of the property, etc. Once done, you will find a token number to track your application.
• In the next page, you will find the party details. If you are the owner, you will need to submit the required details such as your name, identity, occupation, email id, and address.
• Once done, discuss the terms of the agreements with your tenant and create your agreement.
• Schedule an appointment with the biometric verification service provider and submit your application for the registration.
• The benefit of using the online mode is that you can track the status of your registration via SMS. When your agreement is registered, you will receive an SMS about the same.
• Now, you only need to get done with police verification, and you are sorted.

What are the Aspects you Need to Take Care of Before Signing the Rental Agreement?

As a landlord, it is your responsibility to know your tenant completely. Ask him for the identity proof and know where he is from and his purpose of renting a place.
As a tenant, you should know details about the property. Ask your landlord some questions such as who is responsible for the repair cost, electricity bills, house tax, etc. Also, get clear information on the rent of the property. Ask him if he wishes to increase the rent in the foreseeable future.
Also, get clarity on the security deposit. Know the terms in which you are eligible to receive the security deposit. All the parties—tenants, landlord, and witnesses—need to have PAN card and Aadhaar card, while signing the agreement for the further processing of the document.

How NoBroker Can Help you Get Done with your Rental Agreement in a Hassle-free Manner

If this is your first time with the rental agreement, regardless of your status as a tenant or the landlord, you may feel a bit sceptical about the registration process. However, we, at NoBroker, understand your dilemma and strive to help you register your rental agreement at the comfort of your home.
When you choose NoBroker to create a rental agreement for you, you can be done with the registration process in three simple steps:

• Create a rental agreement online using the e-filing website. A rental agreement will be created using the information that you have submitted.
• Select a preferred time for the registration and verification process. Our executive will visit your place on the scheduled time, and the biometric verification will be done. You can avail the biometric verification service on Sundays and other holidays too. However, you will need your original identity proof, your tenant, and two witnesses for this verification process
• Within two or three days, you will receive the soft copy delivered on your email id. All this at the very comfort of your home.

Do you wish to create a rental agreement for your tenant in Mumbai with utmost ease? Visit NoBroker now to get more clarity.