Rent Agreement in Hyderabad

What is the Procedure for Creating a Rental Agreement in Hyderabad?

Owning a home is a dream to many of us and do justice to it by renting it first and then going about buying it. However, your struggle does not get over once you get the rental flat in Hyderabad of your dreams. Actually, that’s when the struggle gets starts. Now, you have to arrange for the deposit, look for packers and movers, and most importantly, have your rental agreement in place.
If you are someone new to the concept of the rental agreement, you may think it as an unimportant document. However, there have been many cases of fraud, wherein a rental agreement has saved tenants from paying a fortune. Below are some of the benefits and rights that a rental agreement offers to a tenant:

1. Leaves No Room For Conflict

   When you are moving into a new place, you may not know how your homeowner is. Later on, you may have some kind of dispute regarding the rent and the repair. In such a case, having a legal document in place can help you keep yourself away from conflicts.
   In the rental agreement, you and the landlord jointly discuss the terms and conditions. In such a case, if there is any type of difference in opinion, you can discuss and reach a middle ground. The same things are put on the rental agreement and are drafted.

2. Protects you from any Additional Cost

   Generally, the responsibility for paying for any repair work comes to the homeowner. However, if it is not discussed prior to renting a flat, he may ask you to do so. On the contrary, when you are creating a rental agreement, there are various formats of it, which you can refer and clear all the confusion there itself.
   You can have it in writing in the draft that the landlord is liable for such payments. In the future, when there is any type of repair work, you can show the bill and the landlord can reimburse it without any further discrepancy.

3. You have New Address Proof

   You may be moving into Hyderabad to seek a job opportunity. In such a case, you have no address proof in Hyderabad. In such a case, you can simply opt for creating a rental agreement in Hyderabad and show it to your employer. This can act as address proof for you.
   Besides this, if there is any type of law that applies to the citizens of Hyderabad, you can present your rental agreement to avail the benefit of it.

4. Need a Bank Loan? Rental agreement comes to your Rescue

   If you are starting a business in Hyderabad or you need a personal loan, the primary interrogation from the bank’s end will require you to submit your address proof.
   In this scenario, you can hand over your rental agreement and you are one step ahead to getting your loan.

5. You May be Eligible for a Compensation

   Some companies offer compensation to their employees on the rental home if they are new to the city. In such a case, if you do not have a rental agreement, you may miss out on the benefit.
   Since the electricity bill is registered under your name, you will need a rental agreement to prove that you are staying on rent.

How to Go About Creating a Rental Agreement in Hyderabad?

The government has taken an initiative and made the registration process online. However, before you get yourself registered, you will need to create a draft. Below are the steps to follow to create a rental agreement in Hyderabad:

• Have a Discussion with your Landlord

  The first step to creating a rental agreement in Hyderabad is to sit with your landlord and discuss everything starting from rent to utility. Ask who is going to pay the property tax, water tax, electricity bill, etc. As you have the discussion, keep on writing the pointers.This will help you get a clear idea about your stay during the stipulated timeframe of 11 months.

• Create a Draft of the Clauses and Review the Stamp Paper

  Once you have a clear idea about the clauses, you can now go about creating a rough draft of the rental agreement. Once you are done, review the draft and show it to your landlord. In case any of the clauses is missing or needs edit, discuss and have it sorted. Once both you and your landlord are on the same page with the document, go about printing the draft on the stamp paper and review it again.

• Find Two Witnesses and Gather all the Required Documents

  You will need two witnesses for the registration of your rental agreement. You can ask your friends or colleagues to serve as witnesses. Once they agree, ask them to have their identity proof ready. Typically, an Aadhaar card or a PAN card can do.
  Besides this, you and your landlord will need to submit copies of your respective identity cards.

• Sign the Rental Agreement and Get Done with the Biometric Verification

  Once the stamp paper is ready, you and your landlord need to sign the rental agreement. Besides this, you will need two witnesses along with their original identity proofs.
  You can now call for a biometric verification service provider and can submit the review application.

How to Use the Online Portal to Create a Rental Agreement in Hyderabad?

You do not have to take the hassle of hiring a lawyer for creating a rental agreement in Hyderabad. You can opt for the online portal and follow the below-mentioned steps to create a rental agreement online.

• Go to https://www.nobroker.in/rental-agreements
• From the dropdown menu, select Hyderabad
• In the Create Agreement Section, select your designation as a Landlord or a Tenant
• Click on the Create Rental Agreement button
• Enter your mobile number for a quick registration
• Once you are registered with NoBroker, you will be navigated to a form. Here you will need to fill details such as agreement city, contact person type, name of landlord, contact details, name of the tenant, etc. Besides this, you will have to add the rent amount and the deposit
• On filling the form, you will be required to pay the stamp amount and you are done with the drafting.
• Schedule an appointment with us for a biometric verification person. Also, ensure that your landlord and two witnesses are available during that time with the required documents.
• The registration process will take about 3-4 business days. On successful completion of it, you can download your agreement.

Why Choose NoBroker to Create your Rental Agreement in Hyderabad?

You have moved into Hyderabad only recently. In such a case, you have work and personal life to balance, other than the creation of a rental agreement. Even if you have been in the city for quite a while now, you still have packers and movers to look for to move into your new rental flat. In such a case, you can relieve some portion of your burden by letting NoBroker handle your rental agreement.
Below are some of the other benefits of choosing NoBroker as your rental agreement partner:

• Use your Time on other Productive Task:

  Creating a draft is definitely a time-consuming affair. Besides this, you will need to look for and contact biometric verification service providers.
  If you go by the offline route, you will need to hire a lawyer to take care of the document. And, let’s not forget how extravagant that is going to be. At NoBroker, we understand the value of your time, and so, our biometric service is just a call away.
  What’s more?
  Our professionals even work on Sundays, which means you don’t have to take a leave or a half-day from work to complete the registration process.

• You can Ensure Transparent and Safe Processing

  Fraud and decisiveness have been easier than ever, thanks to the digital age. Besides this, there are so many legalities that only an expert can help you with.
  When you create your rental agreement with NoBroker, you can ensure secure and safe document processing. All you need to do is, fill in the required details and you are sorted.

• You can Save Money

  We are a brand and have experience in dealing with various services encircling the rental properties. You can simply opt for our rental agreement service, fill in the required details, and we take care of the rest. Since we are in the business for a long-term now, we offer services at the right price to keep our quality of service intact.

Search for ‘online rental agreement’, and you will be overwhelmed with the number of companies offering the service. However, you can trust us among the cohort as we have proven ourselves by the quality of work we deliver. Want to register your rental agreement in Hyderabad at the very comfort of your home? Contact us today.