It is worth mentioning when and how the contract can be renewed, what the rent will be at the time of renewal, whether there are provisions for renegotiated rents and so on. Even in cities like Mumbai, in the initial agreement, real estate agents put in clauses regarding the payment of brokers at the time of renewal. Discuss this clause and find out in advance how much of the brokerage will be for the extension and who will pay for it. Owners are also responsible for the repair (and sometimes replacement) of damaged objects or appliances included in the rental agreement. These are usually dishwashers, ovens and washing machines. A tenant pays to live in the unit, as described in the rental agreement. If the device is not described as described, it is the owner`s responsibility to make it satisfactory. Both landlords and tenants must ensure that they are aware of their responsibilities set out in the agreement before they are concluded. To register a rental agreement, you would have to pay a fee such as stamp duty and registration fees. The fees are usually shared by tenants and landlords, but mention this in the agreement.
In addition, people who have fees, such as legal fees or brokers, should be clear. The agreement should also describe the house you can rent as the floor or apartment number, the area of the house, the number of bedrooms, bathroom, living room, kitchen and so on. If it is a furnished house, make sure there is a list of all fittings and faucets such as beds, sofas, tables, chairs, closets, number of fans, air conditioners, lights and so on. Owners usually keep the original copy of the lease, but you still need to keep a copy. As a tenant, it is important to check your rights and find out what damage is not your responsibility. To stay informed, familiarize yourself with your rights regarding deposits, repair costs, repair requests and other matters. The more informed you are, the less likely you are to be in a bad rental situation. If your lease says you are responsible for the service charge, make sure you have a copy of the contract between your owner and the site manager. This contract should indicate whether the tax is a fixed fee or a percentage fee, the monetary value of which may vary from year to year. The contract should also contain a list of services that the site manager must provide in exchange for payment of the levy. A rental agreement guarantees you that you later have a reference in case of a problem between you and your landlord, which is why it is important to be careful with the clauses contained in the agreement.
Here are some clauses to make for the lease. « Ideally, you have to declare the lease, » Malhotra said. In the event of a dispute, unregistered leases are not considered by the court as a primary deposit and you may need to provide further proof to prove your point of view, he added. In addition, the duration and the rental must be fixed with regard to the rented property. A rental agreement is often entered into after advertising a building or property for rent. Many landlords do not allow tenants to keep pets. If you have a pet, discuss the problem before finishing a house for rent. Some also have problems with non-vegetarian tenants. Other questions to clarify are whether you can use the terrace, parking, garden or other amenities in the company. Each party can insist that the other party must pay the costs of the negotiations and the renewal formalities. It is thus clear that the question of who bears the drafting costs is only an agreement between the parties. Also clarify the prohibition period during which neither the tenant nor the landlord can terminate the contract and make sure it is also mentioned in the contract.
« The agreement should clearly mention the consequences of the termination by one of the parties before the end of the lockout period, » said Rajat Malhotra, a partner at Laware Associates, a cab