The Master Rental Agreement serves as a foundational document for establishing and managing rental relationships in India, whether for commercial, industrial, or residential properties. This agreement is particularly useful for organizations managing multiple rental properties or entering into long-term rental arrangements. It incorporates all essential elements required under Indian law, including compliance with the Transfer of Property Act, 1882, and state-specific rent control regulations. The Master Rental Agreement is designed to provide a standardized yet flexible framework that can be adapted for different property types while maintaining consistency in core terms and conditions. It typically includes detailed provisions for rent payments, maintenance responsibilities, permitted use, insurance requirements, and dispute resolution mechanisms, while allowing for property-specific details to be included in schedules and appendices.
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1. Parties: Identification and details of the lessor/landlord and lessee/tenant, including their legal status and contact information
2. Background: Context of the agreement, relationship between parties, and purpose of the rental arrangement
3. Definitions: Detailed definitions of key terms used throughout the agreement
4. Scope of Agreement: Overview of what is being rented and the general terms of the rental arrangement
5. Term and Renewal: Duration of the rental period, commencement date, and conditions for renewal
6. Rent and Payment Terms: Rental amount, payment schedule, security deposit, and other financial terms
7. Security Deposit: Amount, terms of holding, and conditions for refund of the security deposit
8. Maintenance and Repairs: Responsibilities of both parties regarding property maintenance and repairs
9. Utilities and Operating Expenses: Allocation of responsibility for utilities, taxes, and other operating costs
10. Use of Property: Permitted uses of the property and any restrictions
11. Insurance and Liability: Insurance requirements and allocation of risks between parties
12. Default and Remedies: Events of default and available remedies for both parties
13. Termination: Conditions and process for termination of the agreement
14. Notices: Process and requirements for formal communications between parties
15. Governing Law and Jurisdiction: Applicable law and courts having jurisdiction over disputes
1. Sub-letting: Terms and conditions for sub-letting, if permitted
2. Fit-out and Alterations: Include when tenant is permitted to make modifications to the property
3. Force Majeure: Include for protection against unforeseen circumstances preventing performance
4. Environmental Compliance: Include for properties where environmental regulations are relevant
5. Property Management: Include when there's a separate property management company involved
6. Common Areas: Include for properties in multi-tenant buildings or complexes
7. Signage Rights: Include for commercial properties where tenant signage is relevant
8. Parking: Include when parking facilities are part of the rental arrangement
9. Assignment Rights: Include when assignment of the lease might be permitted
10. Green Building Compliance: Include for properties with specific environmental certifications
1. Schedule 1 - Property Details: Detailed description of the rental property, including floor plans and measurements
2. Schedule 2 - Rent Schedule: Detailed breakdown of rent payments, including any scheduled increases
3. Schedule 3 - Inventory List: List of fixtures, fittings, and furnishings included in the rental
4. Schedule 4 - Condition Report: Detailed report on the condition of the property at commencement
5. Schedule 5 - House Rules: Specific rules and regulations for use of the property
6. Schedule 6 - Maintenance Schedule: Detailed breakdown of maintenance responsibilities and schedules
7. Appendix A - Required Permits: Copies of necessary permits and certificates
8. Appendix B - Insurance Requirements: Detailed insurance specifications and requirements
9. Appendix C - Service Level Agreement: Standards for maintenance and service delivery if applicable
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