Gone are the days when the owners and tenants of the big cities had to visit the offices of notaries, to draft rental agreements. Now, with various platforms that allow facilities to create rental agreements online, landlords and renters can get this job done from the safety of their homes.
In addition to providing ready-to-use templates for online rental agreement formats, these platforms also help customize the layout of the document. Platforms like casing edgefor example, not only helping the two parties draft a online rental agreement taking into account their specific needs, but also help them incorporate terms and conditions to safeguard the interest of all stakeholders.
It is important to note that online rental agreements that are executed on paper with an electronic seal and signed by both parties, are legally valid documents and act as proof of address for the tenant and proof of tenancy for the landlord.
How do you create a rental agreement online?
To write rental agreements online, the tenant or owner must fill in the details on a platform of their choice to go ahead, make the payment and digitally sign the agreement. Then the service provider will send an e-stamped rental agreement to their respective mailboxes instantly.
Please note here that since the entire process is completely online, you do not need a hard copy. However, you can get a copy of your printed registered online rental agreement from your email ID after downloading it in PDF format.
Also check out Housing.com’s rent receipt generator
Process followed to create a rental agreement online
Step 1: The owner/tenant fills in the personal details, along with delivery contact details or email details, and customizes the rental agreement template provided on the platform, according to their specific needs.
Step 2: The landlord/tenant enters the required stamp paper denomination and makes the payment.
Step 3: The online rental agreement provider obtains the document printed on the stamp paper of the requested denomination, completes the documentation and delivers it to your email id.
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Details needed to create a rental agreement online
The details that one must have ready before declaring to complete the online rental agreement form include:
- Name and address of the landlord and the tenant.
- Payment conditions.
- Notice period.
- Duration of the blocking period.
- Date of execution of the contract.
- Purpose of the lease: Whether for residential or commercial use.
- Annual increase terms.
See also: Everything you need to know about rental contracts
Is the facility for online rental agreement registration available all over India?
Until now, online brokerage platforms have launched this service only for big cities, where the rental housing market is quite robust. These cities include Delhi, Mumbai, Bangalore, Gurgaon, Noida, Hyderabad, Chennai, Kolkata, etc. In the future, the ease of writing and registering leases online is likely to come to state capitals and Tier II cities as well.
See also: Why should landlords and renters search for rental agreements online?
How much stamp duty is paid on online rental contracts?
The online rental agreement is drawn up on electronic stamp paper with a denomination value of Rs 100, on the Housing Edge platform.
Frequently asked questions
How to make a rental agreement online?
Platforms like Housing.com provide the ability to create rental agreements online. just visit casing edgeto create a rental agreement online, according to your needs.
What are the online rental agreement charges?
To create a rental agreement online at Housing Edge, one has to pay the cost of the paper stamp plus a nominal convenience fee.
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