The rental agreement should contain the names and addresses of the lessor and tenant, the terms of the lease, the duration of the lease, the rent and the amount of the deposit, the restrictions for both parties, the conditions for termination of the contract, the conditions for renewal and details of who should bear other costs such as maintenance costs, repairs, etc. See also: Arbitration clause in rental agreements and how it can help landlords and tenants The omission of some important clauses in your rental agreement leads to unpleasant disputes in case of disagreement between the tenant and the lessor. Even if the two parties know each other, the ideal is to make a comprehensive agreement to cover your back. In case of disagreement in the future, the lease will be one of the priorities of the dispute. However, there are other factors that, if overlooked, can cause bigger problems. are used to making sophisticated deals, while smaller towns like Madurai, Tiruchirapalli, Tirunelveli, etc. are more forgiving. This rental contract is used by ________ This amount is paid by purchasing the stamp paper you owe to the government. In Delhi, stamp duty is equal to 2% of the average annual rent, for rental contracts with a maximum duration of five years. In Noida, you have to pay 2% of the annual rent as stamp duty, for rentals of up to 11 months. The other type is a rental and license agreement with a maximum duration of 11 months, which is not covered by rent control laws. Stamp duty is essentially a form of tax levied on legal documents in order to make it legally enforceable.