Condominium Lease Agreement Template for India

The Condominium Lease Agreement is essential for properly documenting the rental of apartment units within multi-unit residential complexes in India. This document is particularly relevant in urban areas where condominium living is common and requires specific provisions beyond standard residential leases. It is designed to comply with Indian property laws while addressing unique aspects of condominium rental, including society membership requirements, maintenance charges, and use of common facilities. The agreement protects both landlord and tenant interests while ensuring compliance with society regulations and local property laws. It's commonly used by property owners, real estate agencies, and property management companies for leasing out condominium units, whether furnished or unfurnished, for residential purposes. The document incorporates necessary provisions for registration under the Registration Act when the lease term exceeds 11 months.

1. Parties: Identification and details of the lessor (landlord) and lessee (tenant), including their complete addresses and contact information

2. Background: Brief context about the property ownership, condominium details, and purpose of the lease

3. Definitions: Definitions of key terms used throughout the agreement including 'Property', 'Common Areas', 'Maintenance Charges', 'Society'

4. Property Details: Specific description of the leased unit, including unit number, floor, building name, and carpet area

5. Term and Renewal: Duration of the lease, commencement date, and conditions for renewal

6. Rent and Security Deposit: Monthly rent amount, payment terms, security deposit details, and rent escalation clauses

7. Maintenance and Utilities: Responsibilities for maintenance charges, utility payments, and other recurring expenses

8. Use of Property: Permitted use of the property and restrictions on its usage

9. Society Rules and Regulations: Tenant's obligation to comply with condominium society rules and regulations

10. Repairs and Maintenance: Responsibilities of both parties regarding repairs and maintenance of the unit

11. Insurance: Requirements for insurance coverage of the property and contents

12. Termination: Conditions and process for early termination by either party

13. Return of Property: Conditions for returning the property and settlement of accounts at lease end

14. Governing Law: Applicable laws and jurisdiction for dispute resolution

15. Notices: Process and addresses for serving notices under the agreement