Most of us get this doubt of why rent agreements are made for 11 Months only. Why not get it done for the year? What’s the big deal, it’s only a matter of a month, right?
We are here to answer your questions about the 11 Month Rental Agreement.
What is the need of a Rental Agreement?
A rental agreement is a document that defines the legal relationship between a landlord and a tenant. It sets out certain obligations of each party and also acts as an evidence, in case any dispute arises regarding the property. A rental agreement contains the duties and responsibilities of all the parties concerned. A good rental agreement should ideally specify the names of the parties living in the building and clearly mention the date of the rental period, that is, contain the tenure of tenancy. Specific dates from which date to which the lease of the agreement would be valid have to be mentioned here. Some agreements also go the extra step and mention the common duties of all the tenants towards each other and the landlord too. The more detailed a rental agreement is, the better chances of reducing liability of the parties and also having a solid legal backing.
Reason for Making A 11-Month Agreement
If a rental agreement is set out for a period of 12 months or more it needs to be registered and hence, to avoid the lengthy process of registering the agreement, most people go in for 11-month agreements.
In a recent 2014 judgment, the Karnataka High Court declared that 11-month agreements can no longer be produced as evidence in the courts as any transaction affecting the property. So, if there arises a dispute regarding property and that particular dispute is governed by a 11-month agreement, then the agreement cannot be used as an evidence in the court for all purposes.
The 11-month agreement is currently subject to a lot of scrutiny. It needs to be mentioned that such rental agreements are usually made in favor of residential property rather than commercial property as they have a longer lease period and such documents are mandatory and required to be registered.
This Is When Document Bazaar Steps In We are here to help you create a legally valid rental agreement. All you need to do is login to our website, search for rental agreements and fill out the required details. We will draft a copy and e mail it to you. Once reviewed, you can make the payment and we will get the documents door delivered. Not only that, our services also extend to offering you other legal services as well. Our website is easy-to-use, convenient and will definitely prove to be highly efficient and time-saving. Stop waiting around at your lawyer’s office and just search for Documentbazaar.in