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What is a Lease Agreement?

A Lease Agreement is a contractual agreement outlining the terms under which one party (the Lessee) agrees to rent a particular property owned by another party (the Lessor). It guarantees the Lessee, also known as the Tenant, the use of a property and guarantees the Lessor, also known as the Landlord or the property owner, regular payment for a specified period, as agreed under the Lease Agreement, in exchange. We, At LGL, ensure that all Lease Agreements are made in accordance with law and cater specifically to the needs of the clients and parties to the Agreement.

All About Lease Agreement

Why Lease Agreement?

Establish Roles
Clearly outlines the rights of the Lessor and the Lessee
Security
The lessor is secured in the case of default by the lessee
Payments
Timely payments to the lessor by the lessee
Benefits
Tax benefits to the lessee, if any

Documents / Details we need

Identity Proof
Identity proof, such as the Aadhaar Card, driving license, passport, etc of the landlord and tenant.
Address Proof
Address proof of the authorized signatory, from both parties.
Commercial Documents
Company PAN card and company seal/stamp, if it is commercial property.
Ownership Documents
The original proof/evidence of ownership or title of the property.

Important Clauses

Names of the lessor and lessee or their agents.
Amount of rent and due dates, grace period, late charges.
Description of the property.
Mode of rent payment.
Methods to terminate the agreement prior to the expiration date and charges if any.
Utilities furnished by the lessor and, if the lesser charges for such utilities, how the charge will be determined.
Amount of security deposit and the account where it is held.
Amenities and facilities on the premises which the lessee is entitled to use.
Rules and regulations such as per rules, noise rules, and penalty for violation.
Identification of parking available, including designated parking spaces, if provided.

What's the process ?

1. Assess the Situation
One of the experts from our team will get in touch with you, to get the information regarding the scope of Lease Agreement and collect all the necessary information to start the drafting process.
3. First Ready Draft
We will make the first draft within 48 hours and send it across for your approval. If there are changes required, they will be made and sent to you back within the next date.
2. Due Diligence and Drafting
Once we receive the information we will start drafting the agreement completely from defining the parties to the lease agreement, the terms and conditions, rights of each party, along with all other necessary clauses and along with others as per the requirements of our clients and customers.
4. Final Agreement
The whole process of making the draft and sending the final copy will be completed within 72 working hours with the high-quality help of a team of experts.
1. Assess the Situation
One of the experts from our team will get in touch with you, to get the information regarding the scope of Lease Agreement and collect all the necessary information to start the drafting process.
2. Due Diligence and Drafting
Once we receive the information we will start drafting the agreement completely from defining the parties to the lease agreement, the terms and conditions, rights of each party, along with all other necessary clauses and along with others as per the requirements of our clients and customers.
3. First Ready Draft
We will make the first draft within 48 hours and send it across for your approval. If there are changes required, they will be made and sent to you back within the next date.
4. Final Agreement
The whole process of making the draft and sending the final copy will be completed within 72 working hours with the high-quality help of a team of experts.

Why choose us

PERSONALISED SERVICE

A dedicated Case Manager ensures quick turnout to all your queries and tailored solutions that fit perfectly for your requirements.

72 HOURS DELIVERY

All your drafting queries are addressed, understood, and delivered with quality under 72 Hours.

EXPERIENCED TEAM

Our team of dynamic professionals is well experienced and extremely proficient to cater to your needs, ensuring the best service.

24/7 HELPLINE

We are available to address and clarify all your queries round the clock. So you can worry less and focus more on the business.

Frequently Asked Questions

The decision to lease vs. rent is based on your requirements. If the asset is essential to your business and you need it there all the time then leasing is your most suitable option. Renting for a specific time period may be more expensive, but the overall cost to individual will be lower because they will not be using the asset for many years.
A rental agreement is often completed by a real estate agent engaged by both the landlord and the renter. Both the landlord and the renter must sign the agreement in the presence of two non-beneficiaries of the property who will sign on the agreement as witnesses in order for it to be legitimate.
Yes, it is compulsory under the law to pay proper stamp duty on lease agreements and also its registration.
Even though the lease already specifies the termination date, several jurisdictions require the landlord to give notice to the tenant if the lease is to be terminated when the term ends. A renter usually has 60 days to find a new apartment after being evicted.
After a lease agreement is completed, a deed of lease is the official document put into a commercial property by the tenant and the landlord. It is created using the information recorded on the lease agreement once the landlord and tenant have agreed on the terms of the contract, whether verbally or in writing.

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