Rent agreement expired since 2016 but no new agreement has been done
2 years ago
I had given a building on rent to a bank on a rent of 8000 pm with 5% increase for the next five years from 2011-2016. Thus the rent as of 2016 was 9724 pm. The bank has been paying the same to me till date without any further increase and no new agreement has been done. Can i demand the increased rent arrears at 5% increase per years as per the terms of previous agreement?I have also learnt ghat they are shifting to a new building but i have not recieved any such notice from their side. Can they do that? What are the actions i can take against them?
Vaidehi Samant
Responded 2 years ago
A.You can demand the increased rent arrears at 5% increase per years as per the terms of previous agreement if you want to renew the leave and license agreement of the bank. However, if bank decides to shift to another place you cannot stop them however based on the agreement if there is any amount in respect of the notice period which needs to be paid than you may request the bank but you cannot claim as the agreement is not actually legally persisting in the current date so even if you want to claim it will be difficult to prove in the absence of any written agreement in the current time. Thank you.
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Leave & Liscence agreement
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