How do I extend a rent agreement in India?

Extending the rental agreement is very simple. We just need to make few amendments to the existing terms & conditions.

Below is the list of few amendments to be incorporated in renewal agreement or agreement extension.

1. Add the word “renewal” or “extension” in the title of an agreement
2. Agreement execution date changes to current date
3. Landlord and tenant age might change by one year (This is applicable only if age details mentioned in agreement)
4. Renewal agreement commencement and end date changes. Generally, renewal agreement commences from very next day of the current agreement end date.
5. Rent might increase by around 5%
6. Security deposit remains same
7. Monthly maintenance of a flat in apartment society may have an impact if apartment society increases or decrease maintenance cost.
8. Water, electricity, gas and parking charge may have an impact
9. Consider removing lock-in period if mentioned in 1st-time agreement.
10. Notice period remains same. However, we may modify notice period under the mutual acceptance of landlord and tenant.
11. Fixtures, fittings, and furniture details may change if there is any change at the time of agreement renewal.

Below we attached the image of mock renewal agreement. In the image, important changes are strained in yellow color for your consideration.

The execution procedure of renewal agreement is same as your 1st agreement. Below is the procedure to execute a rental or renewal agreement

1. Prepare the draft in word format
2. Buy Rs.100 e-stamp paper from your nearest co-operative bank, court or register office
3. Print the draft on e-stamp paper
4. Meet the notary public near you with supporting documents. Landlord, tenant, and witnesses have to sign the agreement
5. Notary public attests and signs the agreement.

This completes the execution procedure of renewal agreement.

If you looking for renewal agreement draft in word format. Please email us, We share draft at no cost.

In Karnataka, including Bangalore. we provide renewal agreement service. Our service includes drafting + agreement execution + notary + home delivery in 2 working days. Same day express delivery available. To opt for our service, please Whatsapp 9 7 4 2 4 7 9 0 2 0.

PGN Property management, Bangalore.

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