Rental procedures for new venture

Hi everyone,  

I'm planning to start a separate private limited company and I wish to use the property which is owned by my father who's already running a company. Is there any standard norms or rules to compulsorily pay some rent for this property even though it belongs to my father? And should I need to enter into any rental agreement with them which would be required in future? In this case, what is the common procedure followed by most of the companies.? Is it better to pay rent or not to pay? 

FYI: My father will become one of the directors for my new venture..  

Kindly clarify on this. Thanks in advance...