I want to hire out my flat to some one on lease/rent. Could any one reply what is the difference between lease agreement & rent agreement because I saw rent agreement of which generaly make for 11 months period whether lease agreement (may be for commercial use) for 1/2/3/5 years.
Why people general makes rent agrement for not beyond 11 months? Does it protect owner's right to vacant property or some other legal protections? If rent agreement makes beyond 11 months, what would impact on owner's right? Pls. specify.
Kindly also specify why people make lease agrement for beyond 11 months (i.e. 1/2/3/5 years) with regard to commercial property?
Kindly inform on which amount (Rs. 10/- or 100/- or any other amount based on rent/lease) of stamp papers both agreement can be made?
Thanks in advance.