ELIGIBILITY CRITERIA: Identity Proof: Both parties must provide valid identity proof (e.g., Aadhaar, PAN, Passport) to verify their identity. Ownership Proof (Landlord): The landlord must have legal ownership of the property or be authorized to rent it out. Valid Property Address: The property being rented must have a proper and verifiable address. Purpose of Rental: The agreement should clearly state the purpose of the rental (e.g., residential, commercial). Mutual Agreement: Both parties must mutually agree to the terms and conditions, including rent amount, tenure, and other obligations. Contract Registration: The rent agreement must be drafted on stamp paper and registered with the local registrar if the rental period exceeds the legally required duration (commonly 11 months or more). Security Deposit and Advance Rent: The tenant must pay the agreed security deposit and advance rent as specified in the agreement. Compliance with Local Laws: The agreement must comply with state-specific rental laws and regulations.   BENEFITS OF RENT AGREEMENT Legal Protection:It serves as a legally binding document that protects the rights of both the landlord and the tenant in case of disputes. Clear Terms and Conditions: Defines key terms like rent amount, duration, payment schedule, maintenance responsibilities, and notice period, avoiding misunderstandings. Proof of Residency: Tenants can use the rent agreement as valid proof of address for legal and administrative purposes (e.g., opening bank accounts, obtaining a passport). Dispute Resolution: Helps resolve disagreements by referring to the terms agreed upon in the document. Security for Landlords: Safeguards the landlord against unauthorized use or extended occupation of the property without consent. Avoids Unauthorized Tenancy: Clearly states who is permitted to reside in the property, preventing subletting or misuse. Tax Benefits: Tenants can claim tax exemptions (HRA) if the rent agreement is submitted as proof, while landlords can declare rental income as part of their taxable income. Compliance with Local Laws: Ensures the rental arrangement adheres to local rental laws and protects both parties from legal complications. Documented Rent Hikes: Any rent increase is formally recorded, preventing unexpected demands. Defines Responsibilities: Specifies who is responsible for maintenance, repairs, and utility payments, ensuring clarity.