Leasse agreement with the bank
manish jain
(Querist) 15 May 2014
This query is : Resolved
I have letout a space to the bank and the leasse agrement has been expired. After negotiation bank has agreed for a new rent and surrendering half of the space.
The new rent will be divided.70% will be paid as rent and 30% as maintanence.
Bank has agreed for seperate agreement for rent and maintanence.
My query is should we make two seperate agrement for the rent and the maintanence ?
And can both the seperate agreement will be registered ?
What is the best possible way?
Abdul Latif
(Expert) 15 May 2014
You can make two separate agreement. One for rent and one for maintenance.
Rent Agreement is required to be registered however maintenance agreement is not.
Kishor Mehta
(Expert) 15 May 2014
Sir,
Any and all agreements have to be registered for them to be valid for submission to a Court of Law.
Good Luck,
Kishor Mehta
Rajendra K Goyal
(Expert) 15 May 2014
What purpose would be solved by two agreements?
Two agreements can be entered.
Rent agreement need to be registered.
Dr J C Vashista
(Expert) 15 May 2014
There has to be two separate registered agreements, especially for commercial premises.
Anand Bali Adv.
(Expert) 15 May 2014
In one agreement also the clause can be covered by saying that the every 12th month's rent will be utilised for the maintenance, which I think will be more amicable between the two as every month getting the maintenance for the building is not desirable and the occupant can demand it on the every month basis of in its absence can stop its payment and can continue with the rental payment only.
I think it is not a good idea of getting two different agreement for the Rent and Maintenance both on monthly basis.I agree that the maintenance clause should be there in a rent agreement but not separately.
Disagree with the point.
Satya nand aggarwal
(Expert) 16 May 2014
There must be one agreement, even otherwise what will be the use of two agreement. It is not going to help the landlord. owner can otherwise also claim 1/3 deduction being rental income in filling IT returns being rental income. moreover it will create a hassle to the owner in increasing the rent. Even in the eviction petition also ( if required) it may be trouble.
T. Kalaiselvan, Advocate
(Expert) 16 May 2014
In my opinion also the opinion rendered by expert Mr. Bali seems to be more suitable. In a single agreement, the maintenance clause also can be inserted, please consult a local lawyer, apprise him of the local situation and proceed as per his advise it it suits you more than the advises rendered here.
