These Standard Terms and Conditions (“Terms and Conditions”) are incorporated by reference into and shall form an integral part of the Service Agreement executed between the Owner and Rental Arrow Private Limited referred to as KeysOnRent. These Terms and Conditions govern the rights and obligations of the Parties in relation to the management and licensing of the Property under the Service Agreement.
1.1 The Owner hereby appoints KeysOnRent as its sole and exclusive agent for the management, licensing, and administration of the Property during the Term of this Agreement.
1.2 The Owner shall not, during the Term of this Agreement, appoint any third party, broker, agent, or service provider to perform similar services in respect of the Property without the prior written consent of KeysOnRent.
1.3 Any attempt by the Owner to directly license the Property to any licensee introduced by KeysOnRent shall be treated as a breach of this exclusivity obligation and shall trigger the anti-poaching clause set out in Clause 15 herein.
2.1 KeysOnRent shall, on behalf of the Owner, carry out all reasonable actions required to make the Property suitable and available for licensing to prospective licensees. Such services shall include but shall not be limited to:
(a) Marketing and advertising the Property through online and offline platforms;
(b) Arranging and coordinating property visits with prospective licensees;
(c) Conducting discussions and negotiations with licensees on behalf of the Owner;
(d) Executing leave and license agreements in the name of and on behalf of the Owner;
(e) Facilitating move-in and move-out of licensees;
(f) Collection and management of License Fees, Security Deposits, or Rental Bonds;
(g) Managing licensee queries, disputes, and complaints;
(h) Coordinating maintenance and repair works at the Property;
(i) Exploring additional revenue opportunities related to the Property;
(j) Providing value-added services, as may be introduced from time to time.
2.2 For the avoidance of doubt, the Owner expressly grants KeysOnRent the authority to:
(a) Enter upon the Property at any time during the Term for inspection, maintenance, installation of equipment, or any other purpose connected with its duties;
(b) Collect License Fees, Security Deposits, Rental Bonds, or other payments due from licensees and manage their refund or adjustment;
(c) Undertake necessary repairs, replacements, and improvements to ensure habitability of the Property;
(d) Install and uninstall meters, locks (including remotely managed digital locks), and other devices at KeysOnRent’s discretion;
(e) Represent the Owner before any surety provider, tribunal, arbitral forum, or court of competent jurisdiction in relation to claims, evictions, or disputes arising from leave and license agreements executed pursuant to this Agreement.
(f) Collection and management of License Fees, Security Deposits, or Rental Bonds;
2.3 The Owner authorises KeysOnRent to initiate, pursue, or defend any legal proceedings, claims, or enforcement actions in connection with the licensing of the Property. This includes termination of licensees, eviction proceedings, recovery of arrears, and enforcement of rights under surety or bond instruments.
3.1 The Owner authorises KeysOnRent to collect Security Deposits or accept Rental Bonds from licensees. Depending on the plan chosen by the Owner, the refund or settlement mechanism shall operate as follows:
(a) Instant Deposit Refunds: Where the Security Deposit is retained solely by KeysOnRent, the Agent shall be exclusively responsible for refunding the Security Deposit to the licensee at the time of exit, after deducting all pending dues. The Owner shall not be liable for such refund.
(b) Owner Managed Refunds: Where a portion of the Security Deposit is transferred to the Owner and the balance retained by KeysOnRent, the Owner shall be responsible for refunding his share of the Security Deposit through KeysOnRent within three
(3) days of submission of a move-out report by KeysOnRent. Delay in refund shall attract a late payment charge as determined by KeysOnRent applicable as mutually agreed in rental agreement.
(c) Rental Bonds: Where a Rental Bond is issued in lieu of a Security Deposit, KeysOnRent shall manage the claims and settlements with the surety provider. The Owner shall have no direct dealings with the licensee in respect of such claims. KeysOnRent shall refund claim amounts received, after adjusting its dues and charges.
3.2 The Owner shall not accept payments directly from licensees nor refund payments directly to licensees. All financial transactions between the Owner and licensees shall flow exclusively through KeysOnRent.
3.3 Payments made by the Owner to KeysOnRent shall be recognised only if made through official KeysOnRent channels including digital payment links, designated VPA handles, or account payee cheques drawn in favour of KeysOnRent Technologies Private Limited. Payments made in cash or to third-party accounts shall not be valid or binding on KeysOnRent.
3.4 KeysOnRent shall be entitled to set off any outstanding dues owed by the Owner against any Security Deposit, Rental Bond claim, or License Fee payable under this Agreement.
3.5 The Owner shall refund any Security Deposit received directly from a licensee prior to the effective termination of this Agreement. Delay in refund shall attract penal interest at the rate of twenty-four percent (24%) per annum until actual payment.
4.1 The Owner authorises KeysOnRent to execute and, where required, register leave and license agreements in respect of the Property and to collect License Fees payable under such agreements.
4.2 KeysOnRent shall remit collected License Fees to the Owner’s designated bank account after deducting its service charges, commissions, and applicable statutory deductions. Payments shall be made in the following cycle: License Fee realised from the licensee shall be deposited in the Owner’s account along with the next rental cycle.
4.3 KeysOnRent shall collect and remit License Fees strictly on an actual collection basis. If the Property is vacant, unlicensed, or the licensee defaults, no payment shall be due to the Owner. KeysOnRent does not guarantee collection but shall exercise reasonable commercial efforts to secure payments.
4.4 The Owner must raise any dispute regarding non-receipt or incorrect receipt of License Fees within six (6) months of the alleged default date. Any claim raised beyond such period shall be deemed waived and time-barred.
5.1 The Owner expressly authorises KeysOnRent to deduct its service charges, commissions, fees, applicable taxes, and any other notified charges directly from the License Fees actually collected from the licensee. The balance amount shall thereafter be remitted to the Owner’s designated bank account.
5.2 The Owner agrees that all payments are subject to deductions and withholdings as required by applicable laws, including but not limited to Goods and Services Tax (GST), Tax Deducted at Source (TDS), or any other statutory levies. KeysOnRent shall provide necessary invoices, challans, or tax documentation as required under law.
5.3 Where applicable, the Owner shall pay to KeysOnRent a Licensee Finding Fee, Onboarding Fee, or any other agreed consideration as specified in the Service Agreement. Such fees shall be payable within five (5) business days from the commencement of the license term. Delay in payment shall attract penal interest at the rate of twenty-four percent (24%) per annum until actual payment.
5.4 KeysOnRent reserves the right to adjust or set off any outstanding charges, penalties, liquidated damages, late payment interest, or other dues payable by the Owner against License Fees, Security Deposit balances, Rental Bond proceeds, or any other sums payable under this Agreement.
5.5 All charges once deducted or paid to KeysOnRent shall be final and non-refundable, except where expressly agreed otherwise in writing by KeysOnRent.
6.1 KeysOnRent may provide the Owner with access to a digital dashboard, mobile application, or online portal for viewing details of the Property, License Fees, Licensees, or service requests. Access to such platforms shall be at the sole discretion of KeysOnRent.
6.2 KeysOnRent does not warrant uninterrupted access to the dashboard or guarantee the accuracy of data reflected therein. The dashboard is intended for indicative and informational purposes only. The records maintained by KeysOnRent in its internal systems shall prevail in case of any discrepancy.
6.3 KeysOnRent reserves the right to withdraw, modify, or discontinue dashboard services without prior notice. The Owner acknowledges that such withdrawal shall not affect the validity or enforceability of this Agreement.
6.4 Any actions performed by the Owner or its representatives using dashboard credentials shall be deemed to have been authorised by the Owner. The Owner shall be solely responsible for maintaining confidentiality of login credentials and shall indemnify KeysOnRent against any misuse thereof.
7.1 KeysOnRent may, at its discretion, install smart locks, biometric devices, or other access control mechanisms at the Property to facilitate licensee movement, access management, or security.
7.2 All intellectual property rights, ownership, and operational control over such devices shall vest exclusively with KeysOnRent. The Owner shall not tamper with, alter, or uninstall such devices without prior written consent of KeysOnRent.
7.3 In the event of termination of this Agreement, KeysOnRent shall be entitled to remove or deactivate such devices, and the Owner shall provide unhindered access to KeysOnRent representatives for such purpose.
7.4 The Owner acknowledges that technical malfunctions, power outages, or network disruptions may temporarily affect the functioning of smart locks. KeysOnRent shall not be liable for any consequential loss, damages, or inconvenience caused by such disruptions.
8.1 The initial license period for which the Property is licensed to a licensee shall be determined by KeysOnRent in consultation with the Owner, but the final discretion shall rest with KeysOnRent.
8.2 Unless otherwise agreed, the standard license period shall be eleven (11) months. Renewals shall be executed at the discretion of KeysOnRent subject to market conditions, licensee performance, and Owner’s consent.
8.3 Where the Service Agreement specifies a lock-in period, the Owner shall not terminate this Agreement or withdraw the Property before the expiry of such lock-in period. Any premature termination shall render the Owner liable to pay to KeysOnRent liquidated damages equivalent to 1 month of the total building rent including maintenance or the balance of the lock-in period, whichever is higher.
8.4 Upon expiration of the license period, KeysOnRent may, at its discretion, renew the license with the same licensee on revised terms or replace the licensee with a new occupant. The Owner shall not unreasonably withhold consent for such renewal.
9.1 The Owner shall disclose in writing a detailed inventory of all furniture, fixtures, and appliances provided at the Property, including their make, model, condition, and approximate age. KeysOnRent shall rely on this disclosure for preparing the move-in report.
9.2 Any damage, loss, or replacement required in respect of such items during the license term shall be adjusted from the Security Deposit or Rental Bond of the licensee. KeysOnRent shall not be liable for ordinary wear and tear, depreciation, or concealed defects not disclosed by the Owner.
9.3 The Owner shall ensure that all electrical appliances, plumbing systems, and fixtures are in working condition at the time of handover. KeysOnRent may, at its discretion, arrange for repair or replacement of defective items at the cost of the Owner if such defects are discovered after possession.
9.4 The Owner acknowledges that KeysOnRent may, at its discretion, provide additional furniture or fixtures to enhance the marketability of the Property. Ownership of such additional items shall vest with KeysOnRent and may be removed at the time of termination.
10.1 Either Party may terminate this Agreement by serving not less than thirty (30) days prior written notice on the other Party. Such notice shall specify the effective date of termination.
10.2 KeysOnRent may terminate this Agreement forthwith, without notice, in the following events:
(a) If the Owner commits a material breach of this Agreement or of any representation or warranty herein;
(b) If the Owner interferes with licensees or attempts to collect License Fees or Security Deposits directly;
(c) If the Owner appoints any third-party agent or broker in contravention of the exclusivity obligation;
(d) If the Owner fails to refund Security Deposits or meet financial obligations owed to KeysOnRent;
(e) If the Owner’s actions expose KeysOnRent to reputational or legal risk.
10.3 Upon termination, the Owner shall permit KeysOnRent and its representatives unhindered access to the Property to conduct move-out inspections, remove any KeysOnRent-owned furniture, fixtures, or equipment, and settle licensee claims.
10.4 The Owner shall remain liable for all amounts due to KeysOnRent up to the effective date of termination, including service charges, liquidated damages, penalties, and reimbursements.
10.5 In case the Property is licensed to a licensee as of the termination date, this Agreement shall continue to govern until the expiry or lawful termination of the then-current license agreement, unless KeysOnRent expressly waives such requirement in writing.
11.1 Any notice required under this Agreement shall be deemed valid if delivered: (a) By hand delivery with acknowledgement; (b) By registered post or courier to the address of the Parties set out in the Service Agreement; or (c) By email to the registered email address (support@keysonrent.com) of the Parties, provided no delivery failure notification is received. 11.2 Notices sent by courier shall be deemed delivered three (3) business days after dispatch. Notices sent by email shall be deemed delivered upon successful transmission. 11.3 Change of address or email for notice purposes must be communicated in writing and acknowledged by the other Party. Until such acknowledgement, the original address shall continue to apply.
12.1 KeysOnRent shall conduct due diligence and verification of all licensees in accordance with applicable law. Such verification may include the collection of KYC documents, police verification, credit checks, and reference checks.
12.2 The Owner shall extend full cooperation to KeysOnRent in facilitating police verification of licensees, including signing or submitting necessary forms.
12.3 The Owner acknowledges that KeysOnRent’s verification process is based on information provided by licensees and third-party agencies, and KeysOnRent shall not be liable for false or misleading information provided by licensees.
12.4 The Owner shall not directly approach or vet licensees independently. All communications regarding verification shall be routed through KeysOnRent.
13.1 The Owner shall hand over the Property in a habitable condition, with all basic amenities including electricity, water, plumbing, electrical fixtures, and safety measures in proper working order.
13.2 The Owner shall remain responsible for all major structural repairs, replacement of capital assets, and statutory compliance obligations relating to the Property.
13.3 KeysOnRent may, at its discretion, undertake routine repairs, maintenance, and replacements to ensure habitability of the Property. The cost of such works shall be adjusted against License Fees payable to the Owner or directly recovered from the Owner.
13.4 KeysOnRent shall not be liable for any loss or damage to the Property caused by normal wear and tear, acts of God, riots, strikes, accidents, licensee negligence, or other force majeure events.
13.5 The Owner shall maintain valid insurance policies covering fire, earthquake, flood, and other perils for the Property. KeysOnRent shall not be responsible for insuring the Property unless expressly agreed in writing.
13.6 In case of urgent repairs that cannot await Owner approval, KeysOnRent may undertake such repairs up to a monetary limit as notified in the Service Agreement. The Owner shall reimburse such expenses without dispute.
14.1 The Owner shall ensure that all utility connections, including electricity, water, piped gas, and internet (where available), are active and in working order at the time of handover.
14.2 Unless otherwise agreed, recurring utility charges, including but not limited to electricity, water, piped gas, and internet usage, shall be borne by the licensee. The Owner shall remain liable for fixed and standing charges, minimum billing, and charges incurred during vacancy periods.
14.3 KeysOnRent may, at its discretion, install sub-meters or monitoring devices to apportion utility consumption among licensees. The Owner shall not object to such installation.
14.4 If utility charges are paid by KeysOnRent on behalf of the Owner, the Owner shall reimburse such amounts within seven (7) days of intimation. Delay in reimbursement shall attract late payment interest at twenty-four per cent (24%) per annum.
14.5 Any disconnection of utilities caused by non-payment of Owner’s dues shall not be the responsibility of KeysOnRent, and any consequential losses shall be borne solely by the Owner.
15.1 The Owner expressly undertakes that all dealings with licensees introduced, managed, or verified by KeysOnRent shall be routed exclusively through KeysOnRent during the term of this Agreement and for a period of twelve (12) months following its termination.
15.2 If the Owner terminates this Agreement and continues to license the Property directly to licensees who were introduced by KeysOnRent, bypassing KeysOnRent, the Owner shall be liable to pay a poaching penalty equal to six 1 months of the License Fee per such licensee.
15.3 The Owner shall not appoint any third-party agent, broker, or platform for the purpose of renting, licensing, or managing the Property during the term of this Agreement without the prior written consent of KeysOnRent.
15.4 Any attempt by the Owner to directly solicit, negotiate, or enter into agreements with licensees introduced by KeysOnRent shall constitute a material breach of this Agreement, entitling KeysOnRent to terminate the Agreement forthwith and pursue all available legal remedies including recovery of damages.
The Owner hereby makes the following representations and warranties to KeysOnRent, which shall remain true and correct throughout the term of this Agreement:
16.1 The Owner is the absolute, lawful, and beneficial owner of the Property or has been duly authorized by the lawful owner to execute this Agreement.
16.2 The Property is free from all encumbrances, liens, litigation, claims, disputes, or third-party rights that may affect KeysOnRent’s ability to perform its services.
16.3 The Owner has obtained and shall continue to obtain all approvals, sanctions, and permissions as required under applicable laws to license the Property.
16.4 The execution, delivery, and performance of this Agreement by the Owner does not violate any contract, obligation, or law binding on the Owner.
16.5 The Owner shall indemnify KeysOnRent against any claims arising from ownership disputes, co-owner disagreements, family inheritance claims, society restrictions, or statutory violations connected with the Property.
17.1 KeysOnRent shall have the right to assign or transfer any of its rights, receivables, or obligations under this Agreement, in whole or in part, to any affiliate, assignee, service provider, or third-party recovery agent without requiring prior consent of the Owner.
17.2 KeysOnRent may report Owner’s payment obligations, defaults, or delays to credit bureaus, collection agencies, or regulatory authorities as per applicable law.
17.3 The Owner shall not assign, transfer, or delegate any of its obligations or rights under this Agreement without the prior written approval of KeysOnRent. Any purported assignment without such approval shall be deemed null and void.
18.1 The Owner agrees to indemnify, defend, and hold harmless KeysOnRent, its directors, employees, representatives, and affiliates from and against all losses, claims, damages, liabilities, costs, penalties, and expenses (including legal fees) that may arise out of or in connection with: (a) Misrepresentation, breach, or non-fulfilment of obligations by the Owner; (b) Ownership disputes or third-party claims relating to the Property; (c) Any statutory, tax, or regulatory non-compliance by the Owner; (d) Any claims, actions, or proceedings initiated by licensees due to acts or omissions of the Owner; (e) Failure by the Owner to refund deposits, pay dues, or honor financial obligations under this Agreement. 18.2 This indemnity shall survive the expiration or termination of this Agreement and shall be binding upon the Owner, his/her heirs, legal representatives, administrators, executors, and assigns.
19.1 KeysOnRent’s liability, whether in contract, tort, or otherwise, shall in no event exceed the aggregate of service charges actually paid by the Owner to KeysOnRent in the preceding three (3) months from the date of claim.
19.2 In no event shall KeysOnRent be liable for indirect, incidental, punitive, exemplary, or consequential damages, including but not limited to loss of profit, loss of reputation, or business interruption, regardless of foreseeability.
19.3 KeysOnRent shall not be liable for any delay, default, or failure in performance of its obligations caused by factors beyond its reasonable control, including actions of licensees, legal restrictions, or acts of God.
19.4 The Owner acknowledges that KeysOnRent’s role is limited to facilitation and management of the licensing process and that KeysOnRent does not guarantee uninterrupted License Fee collection, vacancy-free occupation, or absolute licensee compliance.
