Explore the intricacies of Leave and Licence Agreements with our comprehensive guide. Learn about key components, and differences from rent agreements, and explore a sample format for a clear understanding. Discover the benefits, including property ownership security and valid address proof, and navigate the complexities of stamp duty calculations. Empower yourself with knowledge, whether you are a landlord or tenant, in the dynamic realm of real estate transactions.

If your rent is not paid, the money owed is called ‘rent arrears’

Subletting is the practice of an existing tenant to lease out a small fraction or the whole property to another person

Tenant is a person who occupies land or property rented from a landlord.

It is a kind of ownership of a temporary right to hold land or property in which a lessee or a tenant holds rights of real property by some form of title from a lessor or a landlord

Eviction is the legal removal of the tenant by the landlord from his rental property

A ground lease is an agreement which permits the tenant to develop a piece of property during the lease period

A contingency clause is a provision or clause in a contract that requires a specific event or action to take place for the contract to be valid

Penal rent is the legal and financial penalty/rent that the tenant is obliged (under law) to pay in case he fails to pay the rent on time

Tenant improvements are the various improvements that are incorporated in the building/land/property to meet the tenant’s needs

The first, and usually the biggest company to rent space in a shopping centre or a building, who it is hoped will attract other tenants, is the anchor tenant

A holding deposit (or security deposit) is the sum of money you pay to the landlord, developer or the agent to reserve a rental property

A co-tenancy clause states that if the key or anchor tenants in a mall leave or vacate the space then the residual tenants can reduce the amount of rent that they pay