Facilities Rental Agreement

This agreement includes all the details necessary to rent out a property with pre-installed facilities such as swimming pool, science labs, computer labs, conference room etc. It lays down the purpose and time period for which the property is to be used, and certain important restrictions pertaining to the use of the facilities provided. Thus, this agreement caters to the needs of both the tenant and that of the property owner.

This agreement can be legally enforced by printing it on a Non judicial Stamp paper duly signer by property owner and the tenant. This agreement can be used if either you as an owner want to rent out your place with pre installed facilities to an interested person or you are renting a space with pre installed facilities from a property owner.

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Frequently Asked Questions

This agreement includes all the details necessary to rent out a property with pre-installed facilities such as swimming pool, science labs, computer labs, conference room etc. It lays down the purpose and time period for which the property is to be used, and certain important restrictions pertaining to the use of the facilities provided. Thus, this agreement caters to the needs of both the tenant and that of the property owner.
Who needs this agreement and why?
This agreement can be legally enforced by printing it on a Non judicial Stamp paper duly signer by property owner and the tenant. This agreement can be used if either you as an owner want to rent out your place with pre installed facilities to an interested person or you are renting a space with pre installed facilities from a property owner.
What is the use of Annexure?
The following are all the major clauses included in this agreement:
  1. Term-mentions the term of the agreement.
  2. Time of Permitted Use -mentions the time within which the property should be used.
  3. Rental Fee and Security Deposit-details of the rental fee and the interest free deposit and other remedies of the owner.
  4. Indemnification-safeguards the owner of the facility to be safe against any accidents or unwanted events caused during the rented period.
  5. Covenants of Hirer-mentions the duties and forbidden acts of the hirer.
  6. Assignment and Sublicensing -restrictions as to permitting others to use the property.
  7. Cancellation-details of the conditions of cancellation of the agreement.
  8. Termination-situations when the owner can terminate the agreement.
  9. Dispute Resolution-mentions the dispute resolution techniques in case of any dispute.
  10. General provisions-points such as entire agreement, modification to agreement, waiver, counterparts, applicable law, severability, attorney's fees, and headings not controlling are mentioned .
These are a few terms which might be useful to read about for a better understanding of this agreement:
  1. Indemnification-the part of an agreement that provides for one party to bear the monetary costs, either directly or by reimbursement, for losses incurred by a second party.
  2. Statutory liability-the liability of a party who may be held responsible for any action or omission due to a related law that is not open to interpretation.
  3. Subrogation-the substitution of one person or group by another in respect of a debt or insurance claim, accompanied by the transfer of any associated rights and duties.
  4. Sublicensing-A license giving rights of production or marketing of products or services to a person or company that is not the primary holder of such rights.
  5. Sublet-lease (a property) to a subtenant.
  6. Equity-the quality of being fair and impartial.
  7. Arbitration- a procedure in which a dispute is submitted, by agreement of both parties, to one or more arbitrators who make a binding decision on the dispute. In choosing arbitration, the parties opt for a private dispute resolution procedure instead of going to court.
  8. Arbitrator-an independent person or body officially appointed to settle a dispute.
  9. Conciliation-process whereby the parties to a dispute use a conciliator, who meets with the parties both separately & together in an attempt to resolve their differences.
  10. Waiver-the voluntary surrender of any right or claim by a party.
What are the legal jargons used in this agreement?
There is no Annexure section in this agreement.
How to use this agreement?
The following are all the major clauses included in this agreement:
  1. Term-mentions the term of the agreement.
  2. Time of Permitted Use -mentions the time within which the property should be used.
  3. Rental Fee and Security Deposit-details of the rental fee and the interest free deposit and other remedies of the owner.
  4. Indemnification-safeguards the owner of the facility to be safe against any accidents or unwanted events caused during the rented period.
  5. Covenants of Hirer-mentions the duties and forbidden acts of the hirer.
  6. Assignment and Sublicensing -restrictions as to permitting others to use the property.
  7. Cancellation-details of the conditions of cancellation of the agreement.
  8. Termination-situations when the owner can terminate the agreement.
  9. Dispute Resolution-mentions the dispute resolution techniques in case of any dispute.
  10. General provisions-points such as entire agreement, modification to agreement, waiver, counterparts, applicable law, severability, attorney's fees, and headings not controlling are mentioned .

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