RENTAL AGREEMENT This Rental agreement executed at Chennai on this the 5 th day of July 2008 between [NAME], S/o. [NAME] aged about 42 years residing at [ADDRESS ], hereinafter referred to as “LANDLORD” which term shall unless it be repugnant to the context mean and include his heirs, executives, administrators, legal representatives and assigns of the ONE PART. AND [NAME], S/o [NAME ], [ADDRESS] aged 30 years :2:
hereinafter referred to as „TENANT‟ which term shall unless it be repugnant to the context mean and include his heirs, executives, administrators, legal representatives and assigns of the OTHER PART. Whereas the Landlord is the absolute owner of the property situated in [ADDRESS] AND WHEREAS the LANDLORD has agreed to give on rent the above mentioned premises on terms and conditions hereunder set out. 1. The rental agreement will commence effective from 5.7.2008. The Lease is for the period of 11 months from ………extendable for further period with the option of TENANT. If not renewed on the 11th month Lease Agreement shall stand invalid.
2. The TENANT shall pay the LANDLORD on every month a consolidated sum of Rs.2600/- (Rupees Two thousand six hundred only). As rent. The rent shall be paid on or before the 10th of the succeeding month. 3. The TENANT shall also pay a sum of Rs.15,000/- (Rupees fifteen thousand only). Cash as security deposit repayable to the TENANT on the termination of the Rental Agreement and on giving vacant possession of the property. Should there be any damage to the property of the fixtures and fittings in the said property such amount shall be deducted from the security deposit and the balance amounts due shall be paid to the TENANT. This deposit shall not bear any interest. 4. The TENANT shall pay the Electricity Charges in respect of the rented property during the period of rental agreement before the due dates specified by the TNEB. 5. The TENANT shall be entitled to fix temporary fittings, fixtures and appliances in the rented property with the consent of the LANDLORD and shall be liberty to remove them while vacating the rented property without causing damage to the construction and walls. :3: 6. The TENANT shall not make any structural additions or alteration to the rented property. 7. On termination of this rental agreement the TENANT shall hand over vacant possession of the rented property along with the permanent fixtures listed to the LANDLORD in good condition only. 8. The TENANT shall replace at their cost all the fittings, electrical installments etc., damaged by the TENANT and all expenses for the maintenance of these items shall be borne by the TENANT. 9. The LANDLORD shall pay the Urban Tax, Municipal Taxes and other taxes and outgoing both present and future in respect of the rented property up to date and ensure uninterrupted occupation by the TENANT during the period of rental agreement.
10. In event of the TENANT vacating the building he should give three months notice in writing for the termination of the agreement during the currency of the agreement. In the event of such earlier termination, the LANDLORD shall refund to the TENANT the balance amount standing unadjusted out of the security deposit paid by the TENANT to the LANDLORD soon after the TENANT handover vacant possession of the said property to the LANDLORD subject to clause 10. 11. TENANT shall pay the common Maintenances and the Block Maintenance respectively. It witness whereof the parties above named have set their hands and signature on this 5th day July 2007 written at Chennai in the presence of witnesses.