There are mainly two types of rent agreements available in India:
Lease Agreement:
A lease agreement is an agreement that gives the tenant an exclusive possession of the property for a pre-defined time period. This type of agreement also gives the power to the tenant to make changes to the property unless specified.
Leave and License Agreement:
Under this type of agreement, the possession of the property and the legal ownership remains with the licensor. In other words, with this type of agreement, a tenant doesnât have much control over the property.