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The term Landlord [1] with reference to the Tamil Nadu Buildings (Lease and Rent Control) Act, 1960 under Section 2(6) which runs as follows: Sec.2(6) landlord includes the person who is receiving or is entitled to receive the rent of a building, whether on his own account or on behalf of another or on behalf of himself and others or as an agent, trustee, executor, administrator, receiver or ...
For Residential building, Annual rent can be 6 to 9 per cent of total cost of the building at the time construction. For Non Residential building, Annual rent 9 to 12 per cent of total cost of the building at the time construction. Maintenance charges can be 10 per cent of the rent. Tenant need not pay the owner for property tax.
Tamil Nadu Buildings (Lease and Rent Control) Act, 1960; Tamil Nadu Cultivating Tenants (Protection) Act, 1955; Madras City Tenants Protection Act, 1921; Madras City Tenants Protection (Amendment) Act, 1994; Chennai City Police (Extension to the Chennai City Suburban Area) Act, 2008
As a minimum, the agreement identifies the parties, the property, the term of the rental, and the amount of rent for the term. The owner of the property may be referred to as the lessor and the renter as the lessee. There is typically an implied, explicit, or written rental agreement or contract involved to specify the terms of the rental ...
The narrower term 'tenancy' describes a lease in which the tangible property is land (including at any vertical section such as airspace, storey of building or mine).A premium is an amount paid by the tenant for the lease to be granted or to secure the former tenant's lease, often in order to secure a low rent, in long leases termed a ground rent.
Merger and acquisition agreements, [1] joint venture agreements, real property lease agreements and several other categories of agreements often make use of a letter of intent. The capitalized form Letter of Intent may be used in legal writing, but only when referring to a specific document under discussion.