FAQ – Online Registered Rent Agreement:
What is Online Registered Rent Agreement?
The process of making a Registered Rent agreement online is known as Online Registered Rent Agreement. It is also known as “Leave and License Agreement”. This agreement is basically an understanding between the Licensor (Owner) and the Licensee (Tenant) for the terms and condition of the Lease. These documents are registered in the Sub-Registrar Office – An Authorized Government body, having the authority to register documents.
What is the need for registered rental agreement?
- The following are the necessities of a Registered Rental Agreement:
- This agreement narrates the terms and condition for the usage of the Leased premises. This provides protection to the Lessor from unlawful or unrequired usage of the premises by the Lessee. This Agreement also secures the rights of the both the parties for Rent or security discrepancy. Overall it protects the rights and duties of both the Lessor and the Lessee which comes in lieu of using the Leased property.
- A Registered Rental Agreement acts as an authentic address proof.
Is “Online Registered Rent Agreement” similar to “Registered Rent Agreement”?
“Online Registered Rent Agreement” and “Registered Rent Agreement” is one and the same. This online facility is started by the state of Maharashtra for facilitating the residents of Maharashtra for easy and fast registration of their Leave and License Agreement without going to the Sub-Registrar office.
What is the cost of making an Online Registered Rent Agreement?
The Cost of making a Registered Rent Agreement is dependent upon two government fees: (i) Stamp Duty and (ii) Registration fee. The stamp duty is calculated based on the Rent, Deposit, Location, Tenure. However, Registration Fee for Urban area is Rs. 1000/- and for Rural area is Rs 500/-. Apart from that, the Representative who is preparing the agreement may charge his/her professional fees.
Total Fees is: STAMP DUTY + REGISTRATION FEE + PROFESSIONAL FEE.
Use this tab for calculation: COST Calculator
What are the different types of Rent Agreement?
The following are the different types of Rent Agreement:
- Registered Rent Agreement
- Notarized Rent Agreement
Which type of Registered Rent Agreement has more value for money?
The procedure of making “Online Rent Rent Agreement” has more value for money as it saves the effort of going to the Sub-Registrar office and is more economical than the manual procedure. However, sometimes due to server maintenance the Agreement may take more time than normal.
What are the differences between “Notarized Rent Agreement” and “Registered Rent Agreement”?
The following are the basic differences between Notarized Rent Agreement and Registered Rent Agreement:
- Registered Rent Agreement/Leave and License Agreement is acceptable by the Court of Law, however Notarised Rent Agreement has no Legal Significance
- Registered Rent Agreement has to be registered by the Sub-registrar office and so registration fee is charged. However, Notarized agreement is only notarized
How long does it take to prepare the Registered Rent Agreement?
- Online Registered Rent Agreement: Once the finger scans and photos are taken and submitted online, the agreement takes about 3- 4 working days (approximately) to be approved by the Sub-Registrar. However, if there is any technical issues (which rarely happens) this period may extend further to more unspecified days.
- Manual Registered Rent Agreement: Once the scans and the photos are given by both the parties at the Subregistrar office (Yes, both the parties, i.e the Tenant and the Owner has to be physically present at the Sub-Registrar Office) the agreement is approved within the same day.
What are the steps of making Online Rent Agreement?
Please refer to the Infographics in the link below:
Online Rent Agreement
What are the Document required to register rental agreement?
The Following documents are required to register the rental agreement:
- ID proof (Adhar Card/Passport/Pan Card/Driving License) – Any two
- Latest Electricity bill of the Rented Premises.
However, for Online Registered Rent Agreement Adhar Card and PAN Card is mandatory.
Can we make a customised draft for Online Registered Rent Agreement?
No, customizing of the agreement is not available for online procedure of making Registered Rent Agreement. The Online rent agreement format covers almost all areas of tenancy. Customizing is only possible in making Offline agreements. There is a predefined format for making online registered rent agreement. However a Miscellaneous section is available, to insert additional conditions apart from the already available sections.
Download, format for online registration of rent agreement: Use this Link
Why would anyone make Agreement with Docuinkk?
Docuinkk has a panel of experienced personnel (including Lawyers) with enormous experience in making all types of documents including online Rent Agreement. It has made a large number of documents across Maharashtra very effectively, efficiently and swiftly.
Do we get hard copies for Online Registered Rent Agreement?
No Hard copy of agreement is provided for Online Registered Rent Agreement. Only Soft copies of the approved Registered Rent Agreement (By the sub registrar officer) is sent through email. The print out can be taken and used as Hard copy. For more details read blog on Authenticity of Online Registered Rent Agreement.
Do you also make agreements (like Registered Rent Agreement and POA) in Local Language?
All agreements are made in the most preferred Language i.e English and English Only.
How to verify the owner of an Online Registered Rent Agreement or Online Leave and License Agreement?
The names of the Owner should be mentioned on 1. Index 2 or 2. Municipal Tax Receipt or 3. Electricity Bill. This proves that the owner in the agreement is authentic.
There are times when the Spouse of the Owner may be the Co-Owner of the Property as both the names may be mentioned on the Index 2 or Tax receipt or Electricity Bill. In that case, the Online Registered Rent Agreement or the the Leave and License Agreement should be executed by the both the spouses together as the owner and hence both the spouses should provide their Biometrics for this Online Rent Agreement.
What are the additional Terms and Conditions for Making Online Registered Rent Agreement with Docuinkk?
I. Our associate can come for taking your biometrics only after 7 working hours (9am – 6 pm) after a) Form fill up, b) Draft approval by owner and tenant c) Full Payment / Partial Payment (covering the Government Fees) of the invoice amount (sent along with the draft)….II. Please note “We don’t take any help from outside broker or Agent. We have our own Associates” III. Also we don’t make emergency online agreement for immediate needs and also we don’t make online Rent Agreement for people who are travelling from other city to Pune/Mumbai (having their property in Pune/Mumbai) only to give their biometric scan……IV. However, offline agreements (by visiting the subregistrar offices) for people who are travelling from other cities to Pune/Mumbai having property in Pune/Mumbai can be made, provided all formalities are completed 48 hours before visiting the sub-registration office….
For more details visit us: DOCUINKK