Rental Terms and Conditions
These Rental Terms and Conditions (“Agreement”) govern the rental of furniture and electronics (“Leased Property”) from RENTLOCO(OPC) PVT. LTD. (“Lessor”) by the lessee (“Lessee”). By renting from Rentloco, the Lessee agrees to comply with the terms and conditions stated herein.
a. The Lessee agrees to rent the Leased Property for a minimum period of 3 months.
b. If the Leased Property is not returned at the end of the Lease Term, the lease shall be extended on a month-to-month basis until either party sends written notice of termination at least fifteen (15) days prior to the intended termination date.
c. Lessee agrees to notify Lessor at least fifteen (15) days before expiration of the Lease term or any monthly extension if pickup of the property is desired at that time.
Payment and Refund Policy:
a. Lessee shall pay an rent of days from the items are delivered to the end of the month, refundable security deposit and delivery charges at the time of delivery. .
b. Payment for rentals is due on the 1st of every month and payable until the 7th of that month.
c. Late payment: For each payment not received by Lessor within seven (7) days after the due date, Lessee will be charged a late fee of 100 Rupees per day.
d. Early termination: Early termination of this lease by Lessee or by Lessor upon Lessee’s default will result in a charge of 100% of the remaining current unpaid portion of the lease. All past due charges are due and payable in full.
e. Non-payment consequences: Non-payment of monthly rentals for one month could result in termination of the subscription and removal of the furniture. In such cases, the security deposit will be non-refundable.
a. Delivery cost: Delivery is available at a nominal cost of 199-299 Rupees, depending on the area of delivery.
b. Delivery timeframe: Products will be delivered within 1-3 days from the date of placing the order.
c. Quality check: Lessee is requested to check the quality and details of the product(s) at the time of delivery. Any issues related to the quality of the product(s) must be reported within 48 hours for immediate resolution.
d. Feedback: Lessee is requested to provide feedback within 48 hours of delivery. If feedback is given later than two days, pro-rated rent may be charged.
a. Notice: Lessee shall provide at least 7 days prior notice to Rentloco regarding their intention to pick up the Leased Property.
b. Free pickup: Pickup of the Leased Property is done free of cost.
c. Personal use only: The Leased Property is intended for personal use only and not for commercial purposes.
Lessee’s Responsibility for Maintaining the Leased Property:
a. Lessee shall maintain the Leased Property in good condition, return it to Lessor at the end of the Lease Term or as required, and not remove it from the designated address without Lessor’s written consent.
b. If the Leased Property is not returned as required, Lessee will be liable to Lessor for its full retail value (Lessor’s current retail price) in addition to all other payments and charges identified in this Lease Agreement.
a. The transaction is a lease and not a conditional sale or financing agreement. Title and ownership of the Leased Property remain vested in Lessor, and Lessee may not grant a security interest in the Leased Property.
b. Lessee shall keep the Leased Property free from all levies, attachments, liens, and encumbrances. Lessee shall promptly notify Lessor of any attempts to create or assert an interest in the Leased Property.
Default in Payment:
a. In the event of Lessee’s default by failing to pay any Monthly Payment when due or failing to comply with any other term or condition of this Agreement, Lessor may terminate the lease and repossess the Leased Property without legal process.
b. Lessee agrees to pay all costs of enforcing this Agreement, including reasonable attorney’s fees, in addition to all other amounts and damages for which Lessee is responsible.
c. Lessee waives any rights to pre-seizure hearings following default.
a. Lessor will deliver the Leased Property in good condition.
b. Lessor makes no other warranties, express or implied, and specifically disclaims any warranty of fitness for a particular purpose or merchantability.
At Rentloco, we practice dynamic pricing, which means that rental prices may fluctuate after you’ve rented the products. However, rest assured that the rent you initially agreed upon will remain unchanged throughout the rental period. Your rental rate is locked in, ensuring transparency and peace of mind during your rental journey.