Goa, a popular vacation destination, is bestowed with exotic beauty and warm natives. The beach front areas have attracted tourists from all over the world. This has made Goa a commercial destination with rise in hospitality industry and investments from all over the world stepping into the real estate scene. Commercial properties are on the higher side. The commercial real estate business is into leasing office space and shop spaces.Rent recovers the investmentPeople who have invested in commercial properties try to lease out the properties so as to pay back their mortgages and interest rates to the bank. The laws of tenancy in Goa are stringent, thus the lease documents that are drafted should be done by an experience solicitor only. When the owner leases out property, the lease agreements should contain the entire legal requirement, to deem it as a legal lease agreement. Both the parties to the contract must understand in detail everything mentioned therein.Especially when you lease out property in Panjim in North Goa or Marmagao in South Goa or any of the beach front properties (these areas are in demand for commercial purposes), with the help of a proper solicitor or an estate agent, drawing up an agreement shouldn’t be a problem.The lease agreement should contain each parties name and address in clear print and also whether the party specified is the tenant or the owner, whether they are individuals, a corporate body or a firm (in each of these three cases the identification proof must be submitted). If it is an individual, then proof of domicile, in a partnership the deed of the partnership and for a corporate body a resolution authorizing the signatory to the contract are essential.Terms of the contract should be clearly understoodIt is necessary that the tenant understands all details regarding the rental and other contribution for expenses he has to pay, mainly the maintenance, electricity, water usage and other utilities. His right should be clearly defined in the deed. The landlord should also restore any damages to the property within a reasonable time.Whether it is the landlord or the tenant both of them should have mutual understanding and realize each other’s position and maintain healthy relations. Goa is a place of colourful and vibrant people, who always have been living in peace. Goa’s exquisite flora and fauna and the private and public beach areas with its shopping district and metro lifestyle has a balance of urban and rural life.