In the city of Hyderabad, the rental period is usually 11 months and can be extended later at the end of the 11th month. The tenant must pay the rent and additional costs such as the electricity bill, the water bill depending on the use or as agreed by the tenant and landlord at the time of check-in. It is important to have a lease to deal with any disputes that may arise between the landlord and the tenant, for various reasons such as in recent years, especially with the boom in the IT industry, many MNCs have come to the city of Hyderabad to pave the way for new quarries, leading to tons of people in Hyderabad looking for jobs and better opportunities. And this eventually led to a huge demand for rental properties in exchange for leases. NotaryKart facilitates the documentation of leases by providing customizable templates and arranging the registration and delivery of the document at your front door. The newly founded state of Telangana is known for its rich culture. In recent years, especially with the boom in the COMPUTER industry, many MNCs have appeared in the capital Hyderabad and other popular cities such as Warangal, Medak, etc. As a result, many people move to the city in search of jobs and opportunities. And that eventually led to a huge demand for rental properties.
If the landlord and tenant argue in the future, the lease will be the piece of resistance to this battle. However, there are a few factors that you should note – the registration fees for rental contracts in Telangana and Andhra Pradesh are charged at 5%. While they appear for the registration of the rental agreement, tenants and landlords may be required to provide documents attesting to their identity, their right of ownership (landlord), photos the size of the passport, etc. Before registering the lease, tenants and landlords may be required to provide current documents that are outside of certain important clauses in your tenancy agreement, which most likely results in legal disputes in the event of disagreement between the two parties. That is why everyone says that a lease should always exist, even if the parties are the closest. Before starting to prepare a rental contract in Hyderabad, it is strongly recommended to discuss the necessary clauses that should be included by the landlord and tenant.