Lease vs rent agreement

Rishi Gupta (Querist) 11 October 2012 This query is : Resolved
Respected Sir,

I have a question in relation to my new flat.
I want to let out my flat for a sum of money but confused between Lease or Rent agreement.

I have heard about Rent agreement are not secure and courts generally favor Tenant in case they refuse to vacate the property where as in Lease agreement, I have heard that it is just right to use the property and hence courts will grant vacation orders easily.

My question to you is what should be preferred as it is my first property with my hard earned money. Also, share whether lease agreements are governed by local state laws? I mean will they differ like Rent agreement?

Thank you in advance.

Rishi

Follow Query

Report Abuse

Devajyoti Barman (Expert) 11 October 2012
It is always advisable to go for leave and license agreement for 11 months at a time which may be renewed from time to time.

Rishi Gupta (Querist) 11 October 2012
Thank you Devajyoti ji.
Just to confirm further, will I get any benefit over rent agreement in case of dispute which goes upto court of law and police?

Bhawani Mahapatra (Expert) 11 October 2012
Dear Rishi

Actully there is nothing called "Rent Agreement" . The agreement we are talking about is either a lease agreement or a License agreement. So as advised by Mr.Devjyoti, you should prefer to execute a License agreemet for limited period.

JANAK RAJ VATSA (Expert) 14 October 2012
the licence agreement is preferable than a lease agreement , should the necesssity arises for a legal battle

Arun Kumar Bhagat (Expert) 07 November 2012
Leave and license for 11 months is best for landlords.

ajay sethi (Expert) 07 November 2012
agree with experts . go in for leave and license agreement and have it registered

V R SHROFF (Expert) 07 November 2012
So as advised by Mr. Devjyoti, you should prefer to execute a License agreement for 11 MONTHS & REGISTER IT.

Previous

Next

You need to be the querist or approved LAWyersclub expert to take part in this query .

Click here to login now

Similar Resolved Queries :

Ask Query
Unanswered Queries

Lease vs rent agreement

Similar Resolved Queries :

Download LCI APP

Our Network Sites