Personal lease or Company lease?

Sep 17, 2011     Posted under: Investment

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What is it? A lease agreement is a document specifying the person in whose name the house is take, the amount of rent you pay and the period for which it is valid, apart from other legal causes

Personal v/s Company lease: When the agreement is signed just by you and the owner, it’s called a personal lease. A company lease is one in which the deal happens through your employer. In both cases, the lease has to be registered.

Sense of Security: Since in a company lease the company would have paid the deposit, the tenant would have a sense of security. A company lease would also protect a tenant from being evicted.

Only option for self-employed: For the self-employed, a personal lease is the only option available for taking a house on rent. Doctors, lawyers or businessmen and even students need to take a personal lease

Guarantee letter: If a company does not have a policy to give a lease, its employees can consider taking a guarantee letter on the company letterhead mentioning the name, employee and other details

NitiN Kumar Jain

Nitin works in an IT MNC professionally but blogs and owns NKJ Live. He is also the co-owner of a professional start-up ARGHAM BYTES

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