OFFICE APPLIANCE / FURNITURE RENT AGREEMENT
This Rent Agreement is made at Ladakh.
BETWEEN
Mr. S/o (Hereinafter referred to as the “Owner / Lessor”, which expression shall unless repugnant to the context mean and include his heirs, legal representatives and assigns)
AND
Mr. S/o (Hereinafter referred to as the “Renter / Lessee”, which expression shall unless repugnant to the context mean and include his/her heirs, legal representatives and assigns)
Whereas the first party has agreed to provide the rented appliances/furniture/premises at:
____________
(hereinafter referred to as the “Property / Premises”).
WHEREAS
The Owner is the lawful owner of the home appliances, furniture and/or other items mentioned below and has agreed to give the same on rent to the Renter, and the Renter has agreed to take the said items on rent under the following terms and conditions.
1. DETAILS OF RENTED APPLIANCES / FURNITURE
Additional items may be added by mutual consent of both parties.
2. RENT
The monthly rent of the above-mentioned appliances/furniture/property shall be:
₹____________/- per month
The rent shall be payable in advance on or before the ____________ day of each month.
3. SECURITY DEPOSIT
The Renter has paid a sum of:
₹____________/-
as a refundable security deposit to the Owner at the time of execution of this Agreement.
The security deposit shall be refunded at the time of return of the rented appliances/furniture/property after deducting any outstanding dues, damage costs, repair costs or other amounts payable by the Renter, if applicable.
4. DURATION
This Agreement shall be valid for a period of:
____________ months
commencing from:
____________
and may be extended by mutual written consent of both parties.
5. ADDITIONAL FURNISHED ITEMS
Examples may include AC, TV, Refrigerator, Washing Machine, Bed, Sofa, Office Table, Chairs, Cupboard, etc.
6. PAYMENT METHOD
The Renter shall make payments through any of the following methods as selected by the parties:
Cash
Options:
- Cash
- Cheque
- UPI
- Online / Bank Transfer
Payment Details
UPI ID: ____________
Bank Account Name: ____________
Bank Name: ____________
Account Number: ____________
IFSC Code: ____________
The above payment details shall be applicable only where the corresponding payment method is selected.
7. MAINTENANCE & USAGE
a) The Renter shall use the appliances, furniture and premises carefully and only for the permitted residential/office purpose.
b) Any damage caused due to misuse, negligence, unauthorized alteration or improper handling shall be borne by the Renter.
c) Normal wear and tear shall be the responsibility of the Owner unless otherwise agreed in writing.
d) The Renter shall not make any structural or permanent alteration without prior written consent of the Owner.
8. REPAIR & DAMAGE
In case of major damage, loss, destruction or malfunction caused due to misuse or negligence by the Renter, the applicable repair or replacement cost shall be payable by the Renter.
Such amount may be adjusted from the security deposit or paid separately by the Renter.
9. TERMINATION
Either party may terminate this Agreement by giving:
____________ prior written notice
to the other party.
Upon termination, the Renter shall:
- Clear all outstanding rent and utility charges.
- Return all rented appliances/furniture/items.
- Return all keys, access cards or other property belonging to the Owner.
- Return the rented items in reasonable condition, subject to normal wear and tear.
10. NON-TRANSFER
The Renter shall not sublet, transfer, sell, lend, assign or hand over the rented appliances, furniture or premises to any third party without the prior written consent of the Owner.
11. NON-RETENTION OF RENTED APPLIANCES / FURNITURE
The Renter expressly agrees that all Home Appliances, Furniture and other items provided under this Agreement shall at all times remain the exclusive property of the Owner.
In the event any amount becomes payable by the Owner to the Renter for any reason whatsoever, including but not limited to refund, adjustment, reimbursement, damages or any other claim, the Renter shall not withhold, retain, detain or refuse to return the rented appliances or furniture as security or lien for such payment.
The Renter's remedy for recovery of any such amount shall be through appropriate legal means, and the Owner shall have the right to seek repossession of the rented property in accordance with applicable law and the terms of this Agreement.
12. ADDITIONAL / SPECIAL CLAUSES
The parties may add any additional terms or special conditions below:
____________
13. GOVERNING LAW
This Agreement shall be governed by and interpreted in accordance with the laws of India.
14. ENTIRE AGREEMENT
This Agreement, together with any mutually signed schedules, item lists or additional clauses, constitutes the understanding between the Owner and Renter regarding the rented property and items.
Any amendment or modification shall preferably be made in writing and agreed upon by both parties.
IN WITNESS WHEREOF
Both parties have signed this Agreement on:
____________
first mentioned above.
| WITNESS 1 | OWNER / LESSOR |
|---|
| Name: __________________________ | Name: __________________________ |
| Signature: _____________________ | Signature: _____________________ |
| Date: __________________________ | Date: __________________________ |
| WITNESS 2 | RENTER / LESSEE |
|---|
| Name: __________________________ | Name: __________________________ |
| Signature: _____________________ | Signature: _____________________ |
| Date: __________________________ | Date: __________________________ |
