A rental agreement usually spans a period of 11 months due to a large number of reasons, legal, practical, and cultural otherwise. These practices protect both the tenant and the landlord. Some of the main reasons why a rental agreement is drafted for 11 months can be mentioned as below:
• Legal Considerations
In many jurisdictions, the eviction law states that a rental agreement should be made for less than a year. This helps the landlords to get possession of the properties more easily. Other than this, there are statutory regulations that limit long-term rental agreements. It reduces complexities on both sides.
• The flexibility of the Landlord
Landlords get the flexibility to adjust their rental prices if they make the rent agreements for short-term periods. Moreover, an 11-month rental agreement helps the tenant reevaluate the reliability and responsibilities and helps them adhere to the agreement's terms before any long-term contract.
• The Flexibility of the Tenant
Tenants can also prefer shorter rental agreement termsto adapt to potential changes to their personal circumstances like educational pursuits, future plans, job relocations, etc. Moreover, it also enables the tenants to assess the properties' suitability based on many factors such as noise levels, amenities, neighbourhood dynamics and others.
• Mitigation of Risks
A period of 11 months provides adequate time for both the tenant and the landlord to assess their compatibility, reducing the risk of prolonged conflicts. Moreover, regular assessment and renewal within a shorter period helpensurethe tenant and landlord maintain the property properly.
• Cultural Norms and Traditions
In India, long-term rental agreements must deal with stamp duties and other formalities. Moreover, this requires registration with the local authorities. However, people in India are not willing to do that.
Moreover, In India, certain superstitions and astrological beliefs prevent people from renting apartments for long-term periods. Hence, giving rent for 11 months is said to be a safe duration for the people.
