When it comes to renting a shop, it is essential to have a written agreement that clearly lays out all the terms and conditions of the lease. A draft agreement for rent of shop must include essential information such as the name and address of the landlord and tenant, details of the property, the rent amount and payment terms, security deposit, duration of the lease, and any other relevant terms.

Here are some key points to consider when drafting an agreement for rent of shop:

1. Property Details: The agreement should include a detailed description of the property being rented, including the address, floor space, and any additional features such as parking, storage, or utilities. This information is crucial since it helps to avoid any confusion or disputes later on.

2. Rent and Payment Terms: The agreement must specify the rent amount, payment frequency, and the due date. It should also mention the mode of payment, such as online transfer, cheque, or cash. Additionally, the agreement must mention the repercussions of late payments or default in payment.

3. Security Deposit: The agreement should outline the amount of security deposit the tenant is required to pay. It should also mention the conditions under which the landlord is authorized to deduct from the security deposit, such as any damage to the property or unpaid rent.

4. Lease Duration: The agreement should state the duration of the lease, including the start and end date. If there are any provisions for renewal options, they should also be mentioned.

5. Termination Clause: It is essential to include a termination clause in the agreement that outlines the procedure for terminating the lease. This clause will specify the notice period required for either party to terminate the lease and any fees or penalties associated with early termination.

6. Maintenance and Repair: The agreement should clarify the responsibility of each party for maintaining and repairing the property. It should also mention any limitations on the use of the property, such as restrictions on subletting or structural modifications.

In conclusion, a draft agreement for rent of shop must outline all the essential terms and conditions of the lease to protect the interests of both the landlord and tenant. It is crucial to seek legal advice before finalizing the agreement to ensure that it is legally binding and enforceable.