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.
Helpful
Helpful
Share
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.
Helpful
Helpful
Share
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.
Helpful
Helpful
Share
Read Related Answers
Excess land not in record, can it be sold??
Dear Client,
It is illegal to sell the excess land without the patta papers and title deed. The excess land can be sold, only if the seller is the title holder of all the land including the excess. So...
Leave & Liscence agreement
Dear Sir,
You cannot stop basic necessities of such tenanted house which is illegal as per law. The proceedings before the Courts cannot be taken away by mutual agreement also. You have to file a suit...
Landlord/Tenant
Dear Client,
If the owner continues to delay or refuses to comply, you may need to explore legal options. Filing a case in court could be the next step to seek resolution and potentially recover you...
Landlord/tenant
Dear Client,
If the builder/ broker has not delivered the possession even after the the due date as mentioned in the contract you have a few legal options, one is to cancel the agreement with the bui...
No return of advance paid. Absence of agreemnt
Dear Client,
Many landlords in India follow the system of no return off advance system. Please check the terms and conditions of the contract. if the same is not mentioned and there is no restriction...
Read Blogs on Landlord and Tenant
Landlord and Tenant Lawyers
Find Lawyers by Location