This Lease Agreement Is Entered Into As Of , 20, By And Between , ("Landlord&Qu: Fill & Download for Free

Most rent and lease agreements are signed for 11 months so that they are able to avoid stamp duty and other charges.Right from your bachelor days to your married life, we all have once lived in a rented house/flats. While living in rented accommodation we must have entered into a rental agreement with the landlord or the owner. Most of us do wonder why the agreements are for 11 months ? not 12 months. Usually, neither owners nor tenants and not even real estate agents know why it is like this way. So, let’s find out.Rent agreement is also known as a lease agreement, rent agreement can be defined as a written contract between the landlord and the tenant who takes it on rent. The rent agreement is a legal document which binds both the owner and the tenant while safeguarding the interest of both the parties. It protects the tenant from eviction and unnecessary hike in rent without giving a notice of one month.Rent agreement generally specifies the property details of the flat/accommodation (address, type and size), monthly rent, security deposit, the purpose for which the property can be used (residential or commercial) and duration of the agreement. The terms and conditions can always be negotiated but after the document is signed, it is bound by law on both the tenant and owner. Conditions for termination of the agreement are clearly mentioned.As gathered from our expert on rental agreements, most of the rent agreements are signed for 11 months, as signing it for 11 months can avoid stamp duty and other fees. According to the registration act, 1908, the registration of rent agreement is mandatory if the leasing period is more than 12 months. If we register an agreement, registration fee and stamp duty need to be paid for it, so if we do it for 11 months it avoids paying stamp duty and registration charges. There is a little variation of stamp duty and registration charges in different states.Registration fee in Maharashtra depends on the property to be leased out is located. The registration fee for properties located in municipal corporation limits is Rs 1000 while in the rural area it is Rs 500. The cost of the stamp duty and registration is to be borne by both tenant and landlord equally.In Delhi, for instance, the stamp paper cost is 2% of the total annual rent of a year for upto5 years. For more than 5 years but less than 10 years, it is 3% of the value of the average annual rent of a year. For more than 10 years but less than 20 years, it is 6% of the value of the average annual rent of a year. Stamp paper can be purchased in the name of tenant or the owner.

To begin, signatures are not magic. Maybe in some parts of the world but not in Oregon.In Oregon the Oregon Residential Landlord Tenant Act requires landlords to maintain the dwelling unit in habitable condition. ORS 90.320. Set out in full below. Paragraph 2 outlines the conditions under which an agreement you described could be allowed:(2) The landlord and tenant may agree in writing that the tenant is to perform specified repairs, maintenance tasks and minor remodeling only if:(a) The agreement of the parties is entered into in good faith and not for the purpose of evading the obligations of the landlord;(b) The agreement does not diminish the obligations of the landlord to other tenants in the premises; and(c) The terms and conditions of the agreement are clearly and fairly disclosed and adequate consideration for the agreement is specifically stated"consideration" means something of value. "Quid pro quo". Just because you sign an agreement does not change a law. Again, signatures are not magic. Unless your new lease has something of value for you, like lowered rent or something, I doubt the provision is enforceable. In fact, The ORLTA provides that a tenant can recover 3 months rent if the landlord attempts to enforce a rental agreement the landlord knows is contrary to law:90.245 Prohibited provisions in rental agreements; remedy. (1) A rental agreement may not provide that the tenant::(a) Agrees to waive or forgo rights or remedies under this chapter;(b) Authorizes any person to confess judgment on a claim arising out of the rental agreement;(c) Agrees to the exculpation or limitation of any liability arising as a result of the other party’s willful misconduct or negligence or to indemnify the other party for that liability or costs connected therewith; or(d) Agrees to pay liquidated damages, except as allowed under ORS 90.302 (2)(e).(2) A provision prohibited by subsection (1) of this section included in a rental agreement is unenforceable. If a landlord deliberately uses a rental agreement containing provisions known by the landlord to be prohibited and attempts to enforce such provisions, the tenant may recover in addition to the actual damages of the tenant an amount up to three months’ periodic rent. [Formerly 91.745; 2009 c.431 §11]Commercial leases are not covered by ORLTA. I am only licensed in Oregon. Here is the full section of 90.320 covering a landlord’s duty to maintain:90.320 Landlord to maintain premises in habitable condition; agreement with tenant to maintain premises. (1) A landlord shall at all times during the tenancy maintain the dwelling unit in a habitable condition. For purposes of this section, a dwelling unit shall be considered unhabitable if it substantially lacks:(a) Effective waterproofing and weather protection of roof and exterior walls, including windows and doors;(b) Plumbing facilities that conform to applicable law in effect at the time of installation, and maintained in good working order;(c) A water supply approved under applicable law that is:(A) Under the control of the tenant or landlord and is capable of producing hot and cold running water; (B) Furnished to appropriate fixtures;(C) Connected to a sewage disposal system approved under applicable law; and(D) Maintained so as to provide safe drinking water and to be in good working order to the extent that the system can be controlled by the landlord;(d) Adequate heating facilities that conform to applicable law at the time of installation and maintained in good working order;(e) Electrical lighting with wiring and electrical equipment that conform to applicable law at the time of installation and maintained in good working order;(f) Buildings, grounds and appurtenances at the time of the commencement of the rental agreement in every part safe for normal and reasonably foreseeable uses, clean, sanitary and free from all accumulations of debris, filth, rubbish, garbage, rodents and vermin, and all areas under control of the landlord kept in every part safe for normal and reasonably foreseeable uses, clean, sanitary and free from all accumulations of debris, filth, rubbish, garbage, rodents and vermin;(g) Except as otherwise provided by local ordinance or by written agreement between the landlord and the tenant, an adequate number of appropriate receptacles for garbage and rubbish in clean condition and good repair at the time of the commencement of the rental agreement, and the landlord shall provide and maintain appropriate serviceable receptacles thereafter and arrange for their removal;(h) Floors, walls, ceilings, stairways and railings maintained in good repair;(i) Ventilating, air conditioning and other facilities and appliances, including elevators, maintained in good repair if supplied or required to be supplied by the landlord;(j) Safety from fire hazards, including a working smoke alarm or smoke detector, with working batteries if solely battery-operated, provided only at the beginning of any new tenancy when the tenant first takes possession of the premises, as provided in ORS 479.270, but not to include the tenant’s testing of the smoke alarm or smoke detector as provided in ORS 90.325 (1);(k) A carbon monoxide alarm, and the dwelling unit:(A) Contains a carbon monoxide source; or(B) Is located within a structure that contains a carbon monoxide source and the dwelling unit is connected to the room in which the carbon monoxide source is located by a door, ductwork or a ventilation shaft; or(L) Working locks for all dwelling entrance doors, and, unless contrary to applicable law, latches for all windows, by which access may be had to that portion of the premises that the tenant is entitled under the rental agreement to occupy to the exclusion of others and keys for those locks that require keys.(2) The landlord and tenant may agree in writing that the tenant is to perform specified repairs, maintenance tasks and minor remodeling only if:(a) The agreement of the parties is entered into in good faith and not for the purpose of evading the obligations of the landlord;(b) The agreement does not diminish the obligations of the landlord to other tenants in the premises; and(c) The terms and conditions of the agreement are clearly and fairly disclosed and adequate consideration for the agreement is specifically stated.(3) Any provisions of this section that reasonably apply only to a structure that is used as a home, residence or sleeping place shall not apply to a manufactured dwelling, recreational vehicle or floating home where the tenant owns the manufactured dwelling, recreational vehicle or floating home, rents the space and, in the case of a dwelling or home, the space is not in a facility. Manufactured dwelling or floating home tenancies in which the tenant owns the dwelling or home and rents space in a facility shall be governed by ORS 90.730, not by this section. [Formerly 91.770; 1993 c.369 §6; 1995 c.559 §15; 1997 c.249 §32; 1997 c.577 §17; 1999 c.307 §20; 1999 c.676 §11; 2009 c.591 §12; 2013 c.294 §9]

Ok first read about buying investment properties with no money, little money, or without using our own money:How To Invest In Real Estate With Little MoneyThe more money you have to invest, the easier. These options include spending money over a longer period of time.1. Lease With Option of BuyingThis strategy is also referred to as “rent to own” or “lease-purchase.” This means you would make payments just like with an ordinary lease and payments go toward buying investment properties. The agreement includes a time frame in which the tenant has to buy the property for a specific price. During the time period, the owner or investor cannot sell the property to anyone else. If going with this strategy, make sure to agree on a final price in a legal document.2. Flexible SellersSome sellers, turnkey providers, who have move-in ready properties will sell to investors for as little as 5% down. This is an effective way to invest in real estate with little money down and avoid putting more money for renovations. These sellers have high interest rates so it’s important to calculate cash flow – including vacancies – ahead of time.3. FHA LoanThe FHA mortgage requires a down payment of only 3.5% and must be owner-occupied. If the property is flip, you can live it in it first, fix it up, and sell it. The 203K loan is combined with the FHA mortgage and lends renovation costs.. Another option is buying a multi-family property and living in one unit while renting out the other unit.Related: Top 5 Alternative Ways to Find an Investment PropertyThen read about how an empire is formed. Like Christopher said, it’s about repeating successful investments in order to get rich in real estate.1. Fix and FlipThe first answer to the question how to get rich in real estate is for those who are not looking forward to becoming landlords by renting out their income properties for an indefinite period of time. Instead, it is for those more dynamic individuals interested in short-term investments and who like to buy a property, fix it, and then flip it – i.e., resell it for a price higher than the price they purchased it for. The trick is to identify a property which requires only minimal – and cheap – fixes to maximize its value.After you manage to sell your first fix-and-flip income property, with the profit you can buy a new better (more expensive) property which will bring you an even higher profit after you resell it. Then, with the profit from the second property, you buy a third one. In other words, you enter into a cycle of fixing and flipping which should generate you more and more money over time. Once you’ve made enough profit, you can even start buying two fix-and-flip properties at the same time. Or you can use some of the money to buy a rental property that you will rent out to tenants. But be careful! Fix and flip is not for anyone. It requires an investor who is willing to put a lot of efforts and time into this investment. It is more of a full-time rather than a part-time, second job.Related: 5 Tricks to Save On Fix-and-Flips2. Positive Cash Flow to Pay Off MortgageMaybe fix and flip does not sound like your road on how to get rich in real estate? If you are not this dynamic type of person and would like to buy rental properties that you keep for at least a few years, then you should always aim for such properties that generate enough cash flow to pay off their own monthly mortgage payments.Ideally, they will bring you even more than the amount of the loan repayment so that you can quickly save up some money for a down payment on another income property. With the second property, you again aim at positive cash flow. With the positive cash flows from your now two rental properties, you will need less time to save up for a third income property. And so on and so forth. In this manner, in several years you could own a sizeable, diverse portfolio of real estate investments.3. Positive Cash Flow to Pay Off Mortgage on Another PropertyThe next method of how to get rich in real estate is somewhat related to number 2. In this case, if you have a rental property the mortgage for which has been already paid (or which you purchased in cash), you use the positive cash flow from this property to save up a down payment for another property and then to pay off the mortgage of the second property.Related: Buy a rental property using a mortgage or cash?4. Paying Off Mortgage EarlyTo apply this technique of how to get rich in real estate, after you buy your first rental property, you should quickly buy another property, and then another. The idea is that you accumulate a few income properties over a relatively short period of time. Then you apply a snowball effect. So, you use the rental income from all your rental properties to pay off the mortgage on one single investment property at a time.Obviously, the more properties you own and the more income you get from each of them, the faster you will be able to pay off your first mortgage. Once you are done with the repayment of the first mortgage, you start repaying the mortgage on the second property. Repaying the mortgage of every following income property will be easier and faster as you will have one less mortgage payment in total. In order to be particularly successful in this method of how to get rich in real estate, you should aim to always purchase investment properties that are under market value and that offer great cash on cash (you should aim for 20% at least). Paying off a mortgage early gives you the benefit of being able to purchase another property with a mortgage as many banks limit the number of loans you can take at any point in time to anything between four and ten.Related: What is a Good Cash on Cash Return?These are four of the most widely used ways how to get rich in real estate. In all these cases, there are a few basic rules you should try to follow in order to be successful in real estate investing:A Few General Recommendations On How to Get Rich in Real Estate:Look for properties that are selling under market value. This will allow you to get better returns on your investments.Search for income properties that will provide you with significant cash on cash return – at least 20%.Make larger down payments – 25%-40% – as this will save you a lot from the interest you will have to pay on the loan.Take loans that allow you to remortgage (switch to a new mortgage deal) and make overpayments without penalties. This is of crucial importance especially if you plan to pay off one mortgage at a time.Try to buy (at least) one property every one-two years. Yes, it does sound like a lot, but don’t forget the snowball effect – purchasing any new investment property will be easier than the previous one.Start early. While not many people can afford buying real estate properties in their 20s, start as early as possible. Start small; your first purchase does not have to be a multi-family home. The earlier you start, the more time you will have to enjoy the money you will make in real estate investment and to secure your retirement.In your search for the best US cities, neighborhoods, and real estate properties on your journey in how to get rich in real estate, don’t forget to check out Mashvisor for various metrics and analytics.