This is srikanth from Chennai, I have entered into an agreement for absorbing shop for rent on April 6th 2015 with a renewal period of 11 months ,and it also claims that both the parties should give three months notice for cancellation of agreement.
Due to personal issues, I have asked the owner not to renew the agreement and I am planning to close . So I orally informed on 09.03.2016 that I am vacating the rented portion and also in writing. At this point of time, owner conveyed that I have to stay for rent for three months as per agreement and also telling that I have to vacate the portion if he gets the suitable party for rent , without giving any prior notice.
My required clarifications from you :
Generally agreement means both parties will benefit.
In my point, the owner is asking me for three months to stay or rent payable by me . But at the same time, when the owner gets any party, it is possible for him to ask me to vacate immediately without giving any notice.
At the same time, I asked owner that if I am vacating the portion immediately,that he can pay the advance amount, for this he tells that he cannot pay the amount, and he can pay only after three months or he will pay advance amount once he gets from new party.Is it right
Apart from that please tell me that caution deposit of Electricity Board for 2nd year has to be paid by tenant or landlord
or give me clear idea on this subject