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What is a Lease Agreement?

A Lease Agreement is a legally binding contract between a property owner (lessor) and a tenant (lessee) that outlines the terms and conditions of renting a residential or commercial property for a fixed duration—usually 11 months or longer. It protects both parties’ rights and responsibilities under the law.

Why is a Lease Agreement Important?
  1. Legally secures the interests of both landlord and tenant.
  2. Clearly defines rent amount, payment dates, security deposit, and duration.
  3. Prevents future legal conflicts or eviction issues.
  4. Required by courts, banks, and utility companies as address proof or agreement proof.
What Does a Lease Agreement Include?
  1. Details of the landlord and tenant
  2. Property address and type (residential/commercial)
  3. Rent amount, payment mode & due date
  4. Lease term (usually 11 months or more)
  5. Clauses on renewal, notice period, deposit, and restrictions
Documents Required for Lease Agreement
  1. ID Proof of both landlord and tenant
  2. Ownership proof of the leased property
  3. Electricity or tax bill (as address proof)
  4. Stamp paper (as per state law)
  5. Two witnesses with ID proof (for registration)
Who Needs a Lease Agreement?
  1. Property Owners leasing their space
  2. Tenants looking for legal protection
  3. Businesses renting offices, shops, or godowns
  4. Students or working professionals living in PGs / flats
When is Lease Agreement Required?
  1. Before giving or taking any property on lease or rent
  2. While applying for police verification or government utilities
  3. During address proof submission for banks or KYC
  4. When renewing or modifying existing rental terms
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How Can We Help?

At Advolance, our legal documentation experts understand the critical importance of accuracy, compliance, and legal clarity in every property and agreement document we handle.

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