Model Tenancy Act For NRIs — India

The Model Tenancy Act aims to make tenancy easy and manageable by the NRIs. This Act hopes to help the landlords unlock their rental accommodations inventory, which will further rationalize the price structure in the rental property market.

Model Tenancy Act

As an NRI, who would not like to contribute significantly to the growth of their country? The Model Tenancy Act facilitates such an opportunity. It will give a push to the investment decisions of NRIs.

Model Tenancy Act features which are commendable

• The Act makes it mandatory to have a written agreement in place. It helps to remove ambiguity, and adherence to the terms and conditions becomes easy. It creates more awareness about the rights and duties of the parties to the rent agreement.
• Under the new law, the parties will submit the rent agreement to the concerned authorities to be saved on a digital platform.
• Dispute resolution is faster — Regular civil courts will not entertain the disputes. Rent Authority, Rent Court, and Rent tribunal will be separate authorities dealing with tenancy dispute matters. It will lead to speedy disposal of the cases. A time period has been fixed under the Act to decide the disputes.

Click the below link to check complete information: https://www.nrilegalservices.com/model-tenancy-act-for-nris/