Rent agreement

This query is : Resolved

vishwanath (Querist)
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16 September 2016 Hello Experts,

2 Partnership Firms with their mutual oral understanding have taken a flat on rent in mumbai for their business visits. Rent will be shared by both firm equally. However the rent agreement is in the name of one firm only. Now the query is, how to document supportings for payments for another firm whose name not appearing in Rent Agreements and also for the firm who is a party to rent agreement, since he is paying only half of amount mentioned in rent agreement. Should this be supported by seperate MOU between the both firms or we have to ammend rent agreement to include both firms name or any other solution.

Amol S Joglekar

Amol S Joglekar (Expert)
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16 September 2016 amending rent agreement would be better.
For some reason, if it is not possible, you can enter into MOU between both the firms.

vishwanath

vishwanath (Querist)
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16 September 2016 Amol sir can u please share the format and the contents of MOU.

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Amol S Joglekar

Amol S Joglekar (Expert)
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17 September 2016 no any specific format as such, but it can be in a sort of agreement form
Party of first part through its partner so and so
and Party of scond part through its partner so and so
In recital give the history of events as occured....like the place is taken on rent by party of xxxx part
also write the reasons for sharing etc.

Now this MOU witnessth as follows
here you can write the terms of payment etc.