Possibilities of early termination of rent agreement
Rajeev Ramachandran
(Querist) 14 January 2015
This query is : Resolved
Dear Sir,
I am a landlord and have signed an agreement with my tenant for 15 years with 10% increase of rent once in every 5 years.
On oversight I didn’t even cross checked the sections of – to vacate or Notice period, were the Rent agreement-says, only a 3 month notice period valid to the landlord by the tenant and nothing in vice versa .
In current scenario, what all possibilities are there, either to terminate the agreement or to negotiate for a better rent?
Thanks in advance.
Regards
Rajeev Ramachandran.
ADV-JEEVAN PATIL, MUMBAI
(Expert) 15 January 2015
You are entitled to demand standard rent. If agreement is unregistered, you may incorporate termination clause of one month notice by mutual consent.
Rajendra K Goyal
(Expert) 15 January 2015
terms can be changed through mutual consent. Otherwise wait till the agreement is over.
Sri Vijayan.A
(Expert) 15 January 2015
If good relationship is available between you and the tenant, insert the clause.
T. Kalaiselvan, Advocate
(Expert) 19 January 2015
Amicability is the solution for this. Better maintain amicable and conducive relationship with the tenant so that it will be easy for you to ask him to vacate if need be.
Rajeev Ramachandran
(Querist) 25 January 2015
Dear Sir,
Thanks a lot, all for your valuable support. On scrutiny of document, one more time, i found that the the agreement is signed only by one landlord, whereas the building is registered in the name of duo. Will this help us to terminate the agreement ?
Awaiting your valuable updates.
Regards
Rajeev Ramachandran
