Document background
The Periodic Rental Agreement is a fundamental legal instrument used in the Indian real estate market for establishing recurring tenancy arrangements. This document is essential when parties wish to create a flexible rental arrangement that continues on a periodic basis (typically monthly or quarterly) until terminated by either party with appropriate notice. The agreement incorporates provisions required under Indian law, including the Transfer of Property Act, state-specific Rent Control Acts, and the Registration Act, while addressing practical aspects such as rent payments, maintenance responsibilities, and security deposits. It's particularly suitable for situations where parties prefer an ongoing arrangement with greater flexibility than fixed-term leases, while still maintaining legal certainty and protection for both landlord and tenant interests.
