RESIDENTIAL LEASE AGREEMENT

This Residential Lease Agreement (hereinafter referred to as the “Agreement”) is made on [INSERT DATE ON WHICH THE AGREEMENT COMES INTO FORCE] (hereinafter referred to as the “Effective Date”) between:

[INSERT NAME OF THE LESSOR], having registered office at [INSERT ADDRESS OF THE LESSOR] (hereinafter referred to as the “Lessor” which expression shall, unless repugnant to the context or meaning thereof, means and includes its legal representatives, executors, administrators and permitted assigns); and 

[INSERT NAME OF THE LESSEE], having registered office at [INSERT ADDRESS OF THE LESSEE] (hereinafter referred to as the “Lessee” which expression shall, unless repugnant to the context or meaning thereof, means and includes its legal representatives, executors, administrators and permitted assigns).

The “Lessor” and the “Lessee” together shall be referred to as “Parties” and individually as a “Party”.

WHEREAS

1. The Lessor is lawful owner of the property located at [INSERT LOCATION OF THE PROPERTY], and desires to rent the property to the Lessee.
2. The Lessor and Lessee mutually agree to the terms and conditions outlined in this Agreement, which governs the working relationship between the parties.
3. The parties are duly authorized and have the capacity to enter into this agreement.
4. Both the parties affirm to understand the provisions contained herein and in case either party requires clarification as to one or more provisions, either party has had the right to seek clarifications or sought legal guidance.

NOW, THEREFORE, in consideration of the mutual promises contained herein and intending to, be legally bound, the Parties have agreed as follows:

1. DEFINITIONS
   1. “Lessor” refers to an individual that owns the said property as mentioned in this agreement.
   2. “Lessee” refers to an individual who will have the said property on rent as outlined in this agreement.
   3. “Property” refers to the real estate property located at [INSERT LOCATION OF THE PROPERTY].
   4. “Confidential Information" means any non-public information, data, documentation, trade secrets, know-how, or any other information disclosed by one party (Lessor) to the other party (Lessee) in connection with this agreement , whether in written, oral, electronic, or any other form, and identified as confidential or which the Parties should reasonably understand to be confidential.
2. DESCRIPTION OF THE PROPERTY
   1. The Lessor hereby agrees to rent and sell the property to the Lessee. The description of the property. [INSERT DESCRIPTION OF THE PROPERTY]
3. PURPOSE
   1. The Lessee shall use the Leased property only for the residential purposes. The Leased property shall be exclusively used by the Lessee for himself and his family members as residence only. The Leased Property shall not be used for any commercial purposes such as trade or business.
4. TERMS
   1. This Agreement shall commence on the effective date of [INSERT DATE OF AGREEMENT] and continue for [INSERT TERM PERIOD OF AGREEMENT IN DAYS/MONTHS/YEARS] as agreed by the parties. The Agreement may be terminated earlier in accordance with the termination provisions set forth herein, including termination upon mutual written consent or any other conditions specified within the Agreement that allow for early termination.
5. LESSEE’S OBLIGATION
   1. The Lessee agrees to pay the monthly rent as specified in this agreement on or before due the due date without any deductions.
   2. The Lessee shall not use the property for any unlawful purpose and agrees to obey all laws, ordinances, rules, regulations, requirements and orders of all Federal, State, and Local governmental authorities, agencies, departments, bureaus, boards or officials, respecting the use of the property.
   3. The Lessee shall maintain the property in a clean and habitable condition and shall promptly report any damages or necessary repairs to the Lessor.
   4. The Lessee shall allow the Lessor reasonable access to the property for inspection, repairs or other valid reasons.
6. LESSOR’S OBLIGATION
   1. The Lessor shall ensure that the Lessee has the right to quiet enjoyment of the property during the term of this agreement.
   2. The Lessor shall not unnecessarily interfere with the daily activities of the Lessee and shall comply with all the reasonable laws and regulations, that apply to the property.
   3. The Lessor agrees to cooperate in good faith in resolving any disputes or concerns raised by the Lessee during the term of this agreement.
7. RENTAL PAYMENT
   1. The Lessee agrees to pay the Lessor a maximum total of [INSERT RENTAL AMOUNT TO BE PAID TO THE LESSOR] on a monthly basis. Rental payments shall be made on every first week of the month. All payments under this agreement shall be made in [INSERT FIAT CURRENCY] via [INSERT MODE OF PAYMENT].
8. TAXES
   1. The Lessor shall be responsible for the payment of property tax and any other municipal taxes pertaining to the Leased Property during the Lease Period.
   2. The Parties agree that stamp duty and, on this Lease, Deed shall be borne by both Parties jointly.
9. MAINTENANCE AND REPAIRS
   1. The Lessee accepts the property “as is" on the date of execution of this agreement. The Lessee shall henceforth be responsible for all maintenance and repair upon said property, both interior and exterior. The Lessee shall have the right to make such repairs, maintenance, and improvements as Lessee shall deem necessary proper or desirable. The Lessee shall be solely liable for payment for said improvements and shall hold the Lessor nameless there from, except that any electric, plumbing, heating or cooling system that is out of order or any repairs exceeding [INSERT AMOUNT FOR REPAIRS EXCEEDING A CERTAIN COST] at the commencement of this agreement or within [INSERT NUMBER OF DAYS] days’ thereafter will be repaired by the Lessor at his/her own expense. If the Lessor cannot or will not make the repairs necessary the Lessee will have the option of either voiding this agreement by written notice to the Lessor or making such repairs and, receiving a reimbursement from the next monthly payment or payments due to the Lessor or by receiving a credit against the purchase price.
10. REPRESENTATION AND WARRANTIES
    1. The Lessee hereby covenants, warrants, and represents to the Lessor as follows:
    2. The Lessee agrees to pay the rent punctually on the due dates and in the manner specified in this Lease Deed. Additionally, the Lessee shall comply with all terms and conditions outlined in the Lease Deed.
    3. Upon expiry or early termination of the lease, the Lessee shall hand over vacant possession of the Property to the Lessor without delay. The Lessee shall be responsible for removing all installed fittings and fixtures and restoring the Property to its original condition, subject to reasonable wear and tear.
    4. The Lessee shall ensure that the Property is maintained in good condition at all times.
11. SECURITY DEPOSIT
    1. The Lessee has paid the Lessor a [INSERT SUM OF RUPPEES] as an interest-free refundable security deposit. The Lessor acknowledges receipt of the said security deposit.
    2. The security deposit shall be refunded, without interest, simultaneously with the Lessee’s delivery of possession of the Property to the Lessor upon the expiration of the Lease Term or earlier termination of this Lease Deed, in accordance with its terms, provided there are no outstanding dues owed by the Lessee. The Lessor shall have the right to deduct any outstanding rent, interest, or other charges due from the Lessee, including any costs incurred for repairing damages caused to the Property by the Lessee, from the security deposit before refunding the balance amount. In the event that the security deposit is insufficient to cover all outstanding amounts due to the Lessor, the Lessee shall be liable to pay the remaining dues within [INSERT THE NUMBER OF DAYS] days from the receipt of a written demand from the Lessor.
    3. In the event that the Lessor sells the Property or assigns its rights under this Lease Deed to a third party ("New Lessor"), the security deposit shall be transferred to the New Lessor. Upon such transfer, the original Lessor shall no longer bear any liability for the return of the security deposit to the Lessee.
12. SUBLEASE AND ASSIGNMENT
    1. The Lessee shall not sublet, assign, or otherwise transfer possession of the Property, either in part or in full, without the prior written consent of the Lessor. Any assignment, sublease, or license executed without the prior written approval of the Lessor shall be deemed null and void. In such an event, the Lessor shall have the right to terminate the lease at its sole discretion.
    2. In the event of a sublease, the subtenant shall comply with all the terms and conditions of this Lease Deed. The Lessee shall remain liable for the full performance of its obligations under the Lease Deed, including the payment of rent.
13. TELEPHONE, FAX, AND INTERNET
    1. The Lessee shall have the right to apply for, obtain, and install telephone, fax, internet, and/ or cable connections in the property in their own name and at their own expense.
    2. Upon the expiration or termination of the lease, the Lessee shall remove all such installations made by them and settle any outstanding dues.
14. INSPECTION
    1. The Lessor and / or its authorized personnel shall have the right to enter upon and inspect the Leased Property or any part thereof with prior written notice of [INSERT THE NUMBER OF DAYS] at any time during the following hours [INSERT THE TIME] provided, however, in case of an emergency, no prior notice shall be required to be given.
15. DAMAGE TO THE PROPERTY
    1. Lessor shall be liable for any damage, destruction, or defacement of the property, whether caused by Lessor, Lessor’s guests, or any other individuals present on the property with Lessor’s consent, beyond normal wear and tear. Lessor agrees to promptly notify Landlord in writing of any such damage.
    2. Upon receipt of such notice, Lessee shall inspect the damage and determine the necessary course of action for repairs. Any repairs, restorations, or replacements required as a result of Lessor’s negligence, abuse, misuse, or failure to maintain the property shall be at Lessor’s expense. If Lessor fails to repair the damage within a reasonable period as determined by the Lessee, Lessee may conduct the necessary repairs and deduct the cost from the security deposit or seek reimbursement from the Lessor. Failure to report damages in a timely manner may result in additional liability for consequential damages.
16. DEFAULT
    1. The breach of any of the terms of this lease by the Lessee which is not cured within a period of [INSERT THE NUMBER OF DAYS] from receipt of notice from the Lessor shall be considered a default under this Lease Deed. Breaches may include but are not limited to, failure to pay the lease rent, engaging in any unlawful activity, damaging, or otherwise destroying Leased Premises or any common areas therein, or violation of any part or sub-part of this Lease.
17. TERMINATION
    1. Either party may terminate this Agreement for material breach on [INSERT NUMBER OF DAYS] days' written notice with opportunity to cure; provided termination will become effective immediately upon such notice, without opportunity to cure, if:
       1. This Agreement provides a specific date or period for performance of the obligation breached; or
       2. The injury caused by the breach is of a type that cannot be materially reduced by the breaching party during the cure period.
    2. Upon expiration or termination of this Agreement, all rights and obligations of the parties shall immediately cease, except for those obligations that have accrued prior to the effective date of termination. Specifically, any outstanding payment obligations, as well as any liabilities or breaches incurred before termination, shall remain fully enforceable. No new rights or obligations shall arise or be enforceable following termination, except for those expressly provided to survive termination within this Agreement.
    3. If this Agreement is terminated in accordance with its termination provisions, it shall become null and void and have no further force or effect, except that the Parties shall continue to be bound by its provisions regarding confidentiality and restrictions on announcements, indemnification, confidentiality, non-solicitation, non-disparagement, notices, miscellaneous matters, and governing law and dispute resolution. Nothing in this clause shall release any Party from any liability for any breach of this Agreement occurring prior to the effective date of such termination.
18. INDEMNIFICATION
    1. Any material breach of this Agreement, or the negligence or willful misconduct of either party, the other party shall indemnify the other party and hold the other party harmless from and against any judgment, damage, liability, or expenses, including reasonable attorney’s fees, arising out of any claim with respect to the breach or alleged breach of such warranty of this agreement or such negligence or willful misconduct; provided that the other party shall have had sole control of the defense of any such action and all negotiations for its settlement or compromise; and, provided further, that no cost or expense shall be incurred for the account of the other party without its prior written consent.
19. FORCE MAJEURE
    1. Neither party shall be held liable for any failure or delay in performing its obligations under this Agreement if such failure or delay is caused by events beyond the reasonable control of the affected party, including but not limited to acts of God, natural disasters (e.g., floods, earthquakes, hurricanes), war, terrorism, riots, labor strikes, governmental actions, epidemics or pandemics, power outages, or other similar events ("Force Majeure Events").The affected party shall promptly notify the other party in writing of the occurrence of a Force Majeure Event, providing reasonable details of the event, its expected duration, and the steps being taken to mitigate its impact. Failure to provide timely notice may result in the affected party forfeiting its rights under this clause. If a Force Majeure Event continues for a period exceeding [INSERT THE NUMBER OF DAYS CONSTITUTING PERIOD EXCEEDING WHICH, IF THE FORCE MAJEURE CONTINUES, EITHER PARTY MAY TERMINATE THE AGREEMENT] days, either party may terminate this Agreement upon written notice to the other party without further liability, except for obligations accrued prior to the Force Majeure Event.
20. APPLICABLE LAW
    1. This Agreement shall be governed by and constructed in accordance with the Laws, rules, orders and regulations of [INSERT THE COUNTRY/STATE OF APPLICABLE LAWS].
    2. The Parties shall resolve all disputes in connection with the validity or interpretation of this Agreement, unless otherwise expressly stated in the Agreement, in the following manner: 
       1. By direct negotiations between the Lessor and Lessee.
       2. If negotiations between the parties are unsuccessful, the matter shall be referred to the competent court sitting at [INSERT THE COURT WHICH SHALL HAVE EXCLUSIVE JURISDICTION IN CASE OF UNSUCCESSFUL NEGOTIATIONS] which shall have exclusive jurisdiction in all matters arising there from unless otherwise agreed between the Parties in writing.
21. NOTICES
    1. Any notice, request, demand, consent or other communication required or permitted under this Agreement shall be in writing and sent either via email on the email address as provided by the parties and shall be considered sent when the email is sent to the correct email address of the party or shall be given by personal delivery (including courier) by certified mail (confirmed by mail) addressed to the party for which it is intended at the address below and shall be deemed to be given on the day of delivery or transmission if within during normal business hours, or, if after business hours, on the next following Business Day, or if mailed by registered or certified mail, on the day which is [INSERT THE APPLICABLE NUMBER OF BUSINESS DAYS WITHIN WHICH THE NOTICE WILL BE DEEMED SERVED] Business Days after such notice is mailed during normal postal conditions. In the event of a postal disruption, any notice mailed will be deemed received on the [INSERT THE APPLICABLE NUMBER OF BUSINESS DAYS WITHIN WHICH THE NOTICE WILL BE DEEMED SERVED] Business Day following resumption of regular postal service:
       1. If to the Lessor: [INSERT EMAIL ID OR/AND ADDRESS OF LESSOR]
       2. If to the Lessee: [INSERT EMAIL ID OR/AND ADDRESS OF LESSEE]
       3. Either party may change its address/email address for notices and other communications upon notice to the other party in the manner aforesaid.
22. DISPUTE RESOLUTION
    1. The Parties shall endeavor to resolve any differences of opinion which may arise between them with respect to the provisions of this Agreement by negotiation between themselves personally or with the assistance of their attorneys and unless in the opinion of any party, acting reasonably, the matter in dispute is of such significant nature to warrant it being addressed otherwise, no party shall commence any public proceedings until the negotiations have failed to produce a resolution. In furtherance of the provisions of this paragraph, all Parties hereby agree to make themselves available on short notice and to negotiate promptly and in good faith, any matter any party may wish to negotiate.
    2. All disputes arising under this agreement shall be governed by and interpreted in accordance with the Arbitration laws of [INSERT COUNTRY/STATE OF ARBITRATION] , without regard to principles of conflict of laws. The parties to this agreement will submit all disputes arising under this Agreement to Arbitration in [INSERT COUNTRY/STATE OF ARBITRATION] before a single arbitrator. The arbitrator shall be selected by mutual agreement of the parties. The venue of Arbitration proceedings shall be [INSERT NAME OF COUNTRY AND CITY WHERE ARBITRATION SHALL BE CONDUCTED] No party to this agreement will challenge the jurisdiction or venue provisions as provided in this section. The decision of the Arbitrator shall be final and binding upon the parties.
23. MISCELLANOUS
    1. Modifications: Except as otherwise provided herein this Agreement shall not be amended or otherwise modified unless the modification or amendment is done in writing, signed and has been mutually agreed by both the parties.
    2. Language: The language of all communications between the parties pursuant to this Agreement, including notices and reports, will be the English.
    3. Severability: If any provision of this Agreement shall, to any extent, be held to be invalid or unenforceable, it shall be deemed to be separate and severable from the remaining provisions of this Agreement, which shall remain in full force and effect and be binding as though the invalid or unenforceable provision had not been included.
    4. INSURANCE: The Lessor shall be responsible for insuring the leased property.
    5. Entire agreement: This agreement along with all the Exhibits constitutes the entire understanding and agreement of the parties with respect to its subject matter and supersedes all prior and contemporaneous agreements or understandings, inducements or conditions, express or implied, written or oral, between the parties. This Agreement may be executed in identical duplicate counterparts, each of which shall be deemed an original, and both of which together shall constitute one and the same instrument. 
    6. No Waiver: Any failure or delay of any Party hereto in exercising any right or privilege with respect to this Agreement shall not be construed to be a waiver or to affect the validity of any part of the Agreement and shall not retrain any of the Parties to enforce any of the provisions of the Agreement.
    7. Amendments and Assignments:  Any amendments to this Agreement shall be made, only if, both Parties agree upon such amendment in writing. This Agreement shall not be assigned by either party without the express, written consent of the other party.
    8. Headings: The headings upon the various sections are solely for convenience and reference only and shall not affect the scope, meaning, intent or interpretation of the provisions of this Agreement, nor shall such headings otherwise be given any legal effect.
24. INDEPENDENT LEGAL ADVICE
    1. The Parties are advised to seek independent legal counsel before entering into this Agreement. Each Party acknowledges that they have been given a reasonable opportunity to consult with an attorney of their choosing regarding the terms, conditions, and obligations set forth in this Agreement, including any restrictions or commitments imposed herein.
    2. By signing this Agreement, the Parties confirm that they have either sought such independent legal advice or voluntarily chosen to proceed without it. Each Party further represents that they are entering into this Agreement knowingly, voluntarily, and with a full understanding of its provisions. The Parties acknowledge that they are not relying on any statements, promises, or representations made by the other Party or any representative thereof that are not expressly included in this Agreement
25. DECLARATION
    1. The Parties hereby acknowledge that the terms herein have been read, fully understood, and expressly agreed to, and hereby commit to performing their obligations with due diligence, honesty, and in good faith. The Parties hereby agree to foster a collaborative environment that promotes transparent communication and timely resolution of any issues, thereby ensuring compliance with all applicable laws and industry best practices.

IN WITNESS WHEREOF, the parties, intending to be legally bound, have each executed this agreement as of the effective date.

Signed, sealed and delivered on behalf of Lessor

Name: [INSERT NAME OF LESSOR/SIGNING AUTHORITY AND DESIGNATION]

Signature:

Date: [INSERT SIGNING DATE OF LESSOR]

Signed, sealed and delivered on behalf of Lessee

Name: [INSERT NAME OF LESSEE/SIGNING AUTHORITY AND DESIGNATION]

Signature:

Date: [INSERT SIGNING DATE OF LESSEE]