Document background
The Renew Rental Agreement is essential when parties wish to extend an existing rental arrangement in India while potentially updating its terms. This document is typically used when the original lease period is approaching expiration, and both parties agree to continue the tenancy relationship. It incorporates relevant provisions from Indian property laws, including state-specific Rent Control Acts, and addresses key aspects such as revised rental amounts, security deposit adjustments, and any new terms agreed upon by the parties. The renewal agreement must comply with local registration requirements if the renewal period exceeds 11 months. It serves as a crucial legal instrument for documenting the continued tenancy while providing an opportunity to update terms that may have become outdated or require modification based on changed circumstances.
