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AHi There Hope Y’all Doing Well.
I Have A House (My Father Is The Property Owner) . It’s A 2 Floor Based Property (G & 1st). We (Me and My Family) Currently Living In The 1st Floor & We Want To Rent Out The Ground Floor. Besides That We Have Two Separate Small ( Basically 3bhk with tin roofing only one ground floor based ) building which we also want to rent out i located in the same land where the main (2 floor based) house is located.
Now A small office Wants To Take The Main Buildings Ground Floor as rent, And two other separate families came to take out those two separate small buildings.
And While I was searching About The Lease Contract & The Leave and license agreement , I think i should go with the Leave and license agreement (in my opinion).
One More Thing Before Asking The Main Question , While Talking With The Representatives Of That Office , They Said They Want To Do A Rent Agreement For at Least 3 Years while the rent amount will be 10000 rs PM, But We Both(office an me) Discussed And Agreed Upon 3 Things->
1)After the First 12 Month We Will Reinitiate The Discussion About The Rent Price Like It Should Increased Or Not , If needed to be increased then how much etc etc, And Upon Final Decision Of the rent prince If both party agrees then the agreement will continue otherwise it’ll became null & void
2) they will provide 2 moths rent in advance as security deposit and when they want to live they had to give us a prior notice in 2 months advance , and those last two months they didn’t need to pay any money to us owner as rent.
3) before the the enter the premises , we should both takes videos about the rooms and the accessories , when they want to leave we’ll both match the rooms and accessories etc etc , if any found damaged or missing etc they it’ll will be repaired by using their deposited security money and they have to pay last two months rent , if the damed priced is higher than the deposited money they also need to pay the additional money
These three conditions also applies with those families but the only thing is that the rent amount negotiations happens after the 3 years when the rent agreement became null and void, and if they want to stay more they can discuss the rent amount they and after agreeing upon that we can structure a new contract or agreement
Now The Question Is:-
Should I go With The Leave And License Agreement? I Know(at least the main points) The Differences Between The Lease And This Contract. Can all these Terms And Condition Can Be Applicable In The Leave And License Agreement? In This Scenario What You’ll Do?
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