Lock Period B
4 years ago
What is the advantage or benefit of lock in period clause for the landlord ? Is it necessary to put lock in period clause in rent agreement? Is it beneficial for a landlord or is it beneficial for a tenant?
Shreyash Mohta
Responded 4 years ago
A.The lock in period is beneficial both ways.
1. Beneficial for the landlord as he can take huge advances
2. beneficial for the tenant as he can stay there for a minimum contracted duration.
Eg: "A" a landlord rents his premise to "B" who wants to use the premise as a car showroom on rent basis. The lock in period is say "Seven Years" it is beneficial both ways. The tenant stays for a minimum period of 7 years which makes the business substantial time to settle in and grow.
1. Beneficial for the landlord as he can take huge advances
2. beneficial for the tenant as he can stay there for a minimum contracted duration.
Eg: "A" a landlord rents his premise to "B" who wants to use the premise as a car showroom on rent basis. The lock in period is say "Seven Years" it is beneficial both ways. The tenant stays for a minimum period of 7 years which makes the business substantial time to settle in and grow.
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Deepak Yashwantrao Bade
Responded 4 years ago
A.dear client its beneficial for landlord. If lock period is introduced then the landlord can take more and more advance and if tenant wanted to vacate the premises before that period then you are entitled to forfeit the entire advance amount paid.
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A.Dear Sir,
In case of any lease agreement more than 11 months it must be mandatorily get registered. If lock period is introduced then the landlord can take more and more advance and if tenant wanted to vacate the premises before that period then you are entitled to forfeit the entire advance amount paid.
In case of any lease agreement more than 11 months it must be mandatorily get registered. If lock period is introduced then the landlord can take more and more advance and if tenant wanted to vacate the premises before that period then you are entitled to forfeit the entire advance amount paid.
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