When you are renting out a property or a room in your home, it is important to have a written agreement that outlines the terms and conditions of the rental. This is particularly important in the case of a paying guest (PG) accommodation, as there may be additional factors to consider, such as shared spaces and utilities. In this article, we will discuss the format of a rent agreement for PG, and what should be included in it.
The introduction of the agreement should clearly state the names of the parties involved, i.e. the landlord and the paying guest. It should also mention the address of the property being rented out, along with any other pertinent information, such as the room number or floor level.
Term of the agreement
The next section should outline the duration of the agreement, including the start date and the end date. It should also specify whether the agreement will automatically renew at the end of the term, and if so, what the new terms will be. Additionally, it should specify what notice must be given by either party if they wish to terminate the agreement.
Rent and security deposit
The agreement should clearly state the amount of rent that the paying guest is required to pay, the frequency of the payments, and the due date for each payment. It should also specify the consequences of late payment, such as fees or penalties. In addition, it should outline the amount of the security deposit and the conditions under which it will be refunded at the end of the agreement.
Use of common areas
In a PG accommodation, there may be shared spaces such as a kitchen or living room. The agreement should specify which common areas the paying guest is permitted to use, and what rules they must follow when using them. For example, they may be required to clean up after themselves or limit their use of certain appliances.
Utilities and other expenses
The agreement should outline which utilities are included in the rent, such as electricity, water, and internet. It should also specify whether the paying guest is responsible for any additional expenses, such as cleaning services or repairs. Any charges for additional services should be clearly stated in the agreement.
There may be certain rules or regulations that the paying guest must follow in order to maintain a harmonious living environment. These rules should be clearly stated in the agreement, along with any consequences for failing to abide by them. Examples of house rules may include restrictions on noise levels, smoking, or the number of guests allowed.
In conclusion, a rent agreement for PG should be a comprehensive document that clearly outlines the terms and conditions of the rental arrangement. By including all the relevant information, such as the duration of the agreement, rent and security deposit, use of common areas, utilities and other expenses, and house rules, both parties can have a clear understanding of what is expected of them. As such, it is an essential tool for ensuring a positive and successful rental experience.