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Lease Agreement Checklist

The Lease Agreement Checklist outlines essential components for a legally sound lease in India, applicable to both commercial and residential properties. Key elements include details about the parties, property description, lease terms, rent, maintenance responsibilities, and termination conditions. It also covers aspects like permitted use, insurance, dispute resolution, and governing law.

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246 views2 pages

Lease Agreement Checklist

The Lease Agreement Checklist outlines essential components for a legally sound lease in India, applicable to both commercial and residential properties. Key elements include details about the parties, property description, lease terms, rent, maintenance responsibilities, and termination conditions. It also covers aspects like permitted use, insurance, dispute resolution, and governing law.

Uploaded by

N Singh
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Lease Agreement Checklist

This checklist outlines the key components that should be covered in a legally sound lease
agreement for a property. It is applicable to both commercial and residential leases in India.

1. Parties to the Agreement


Full names and addresses of the Lessor (owner) and Lessee (tenant). Include authorized
signatory if a company.

2. Description of the Premises


Complete address, carpet area, built-up area, open areas like parking or terrace.

3. Term and Renewal


Lease start date, duration, lock-in period, and renewal conditions.

4. Rent and Security Deposit


Monthly rent, payment mode, security deposit, refund conditions, and rent escalation
clause.

5. Permitted Use
Specify how the property can be used and restrict illegal or hazardous activities.

6. Maintenance & Repairs


Responsibilities for routine and major repairs, and utility bills.

7. Taxes and Government Dues


Who bears property tax, municipal dues, GST, etc.

8. Possession & Handover


Date of possession, condition of property, and handover process after lease end.

9. Termination Clause
Conditions for early termination, notice period, and consequences of default.

10. Sub-letting / Assignment


Whether sub-letting is allowed and if Lessor’s consent is needed.

11. Insurance and Indemnity


Insurance responsibilities and indemnity clauses for liabilities.

12. Dispute Resolution


Arbitration clause and court jurisdiction.
13. Force Majeure
Clause covering natural disasters, pandemics, etc.

14. Governing Law


Typically under the Indian Contract Act and Transfer of Property Act.

15. Miscellaneous
Includes inspection rights, signage rights, utility meter provision, access to common areas,
parking rights.

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