A levy imposed on legal documents that create a tenancy, this charge is typically based on the annual rent and lease duration. For instance, a higher rent or longer lease often results in a greater charge. This ensures the legality and enforceability of the rental contract.
This obligatory fee contributes to government revenue and provides a mechanism for official record-keeping of rental agreements. Historically, such duties have played a crucial role in funding state activities. Proper payment secures the tenancy and avoids potential legal disputes, offering both landlords and tenants peace of mind. It contributes to a transparent and regulated rental market, safeguarding the rights and obligations of all parties involved.
