Ever wondered why rental agreements are made for 11 months? And - TopicsExpress

Ever wondered why rental agreements are made for 11 months? And why it is essential to have a rent agreement? Well, it is important to have a document that safeguards the interest of both the parties. A rent agreement, thus, is the best way to take a cautious approach. First let’s understand what a rent agreement is. “A rental agreement is a legal contract that binds the owner of the property and tenant, which safeguards the interest of both the parties. The landlord must either be the owner of the property or a person having power of attorney from the owner,” says an expert on Open House. Explaining the importance of this agreement, he adds, “It is important as it protects the rights of a landlord as well as the tenant. As per a clause a tenant cannot sublease the property. Also, it prevents the unnecessary rent hikes and forcible eviction without prior notice of minimum one month.”