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Create Rent Agreement NowIf you are renting a house in Mumbai for the first time in your life, you may be a bit sceptical about the procedure. Firstly, you will have to search for a place of your choice, see if there are any brokerage, and then prepare your moving in. Besides this, the owner will ask you to get your rental agreement done within the first week of your shifting.
Now, many of us may see a rental agreement as a formality; however, it is more than useful and can work in your favour during unwanted legal issues. Besides this, if your company allows compensation on the rental properties, you may have to show your rental agreements to avail the benefits. For the house owners, rental agreements can serve as proof that the property is registered under your name and that the tenants have to abide by the rules set by you.
Different states in India have their own laws when it comes to rental agreements. For instance, the Rent Control Act in Maharashtra was introduced in 1999. These laws play an integral part in case of property disputes between the owner and the tenant.