Model Tenancy Act 2019 (Draft)
The Model Tenancy Act proposes to establish a framework for the regulation of Tenancy matters (residential and commercial) and to balance the rights and responsibilities of landlords and tenants including a process of the fast adjudication process for resolution of disputes.
The need to create a conducive legal atmosphere, which would help unlock the existing properties for being rented out and for mass scale investment in new rental housing stock, has been felt. In order to improve the availability of rental housing across all income categories, it is pertinent that decisions on tenancy should be determined by market forces i.e. it should be mutually agreed between the landlord and the tenant rather than be specified by law (as standard rent under existing rent control laws).
Model Tenancy Act 2019 (Draft) aimed at regulation of tenancy for commercial and residential properties, which will
- Balance the rights and responsibilities of landlords and tenants through rental contracts
- Registration of rental contracts with Rent Authorities
- Outlays process of the fast adjudication process for resolution of disputes through Rent Tribunals
- Repossession of the premises by the landlord through Rent Courts
- Compensation in case of non-vacancy
For more details download the Model Tenancy Act 2019 (Draft) in PDF format using the link given below.