A rental agreement should make sure that the following components are always included:
- The details of the landlord and the tenant including the name, address and contact details.
- The full postal address of the property and its dimensions.
- How long the rental agreement is valid for – the duration of the tenancy?
- What is the rent per month to be paid by the tenant to the landlord and by what date every month?
- What is the security deposit to be paid by the tenant?
- What are the Dos and the Donts in the property/community?
- What are the inclusions/exclusions as a part of the rent? For example, who pays for the maintenance charges, who pays for the electricity/water bills etc.
- What are the fixtures that are included as a part of the premises?
- How much would the rent appreciate once the initial period of agreement is done and the agreement needs to be renewed?