Checklist for Tenants (Policy Matters S01E146)

Описание: In this video, we discuss a few important things that a tenant should check before finalising a rental property.

• Check property ownership papers to see if the owner has the right to offer tenancy of that property. If the owner is offering it through the power of attorney or the owner has a sale or lease deed and has the right to sublease the same.
• All society and municipal dues should be clear.
• Check if the government taxes have been cleared.
• Check if any flat transfer charges are applicable in that particular society.
• Tenants may have to pay wear and tear charges during shifting. Charges for wear and tear during shifting could range from INR 2,000-5,000 depending on the society.
• Fix the minimum period of tenancy.
• Specify the annual increment on rent.
• Terms and conditions of increasing rent should be decided beforehand.

The method of revocation of the agreement should be decided. The notice period for eviction should be mentioned in the agreement. Methods of extending the agreement should also be mentioned. Another important aspect is to check the building and maintenance charges applicable separately for within and common premises of society. What will be the penalty in case of non-timely payment of rent and if the landlord wants to add any penalty clause, it should be mentioned clearly in the agreement

All undisclosed charges are usually not mentioned in the agreement of a housing society. Getting clarity on who will pay the unannounced charges is important. One also needs to mention whether the tenant wants to register the agreement or not. As per the law, the tenant is liable to register the agreement because they are considered beneficiaries of the agreement.

If you have a rent agreement of 11 months, then after 11 months, when the rent agreement is renewed, brokerage need not be given again as you are in the same property. Also, no brokerage is given if renewal is within 11 months.

When the broker is involved and helps renew your agreement again, he could charge money for the execution of the agreement. If an 11-month tenancy agreement is renewed a third time, you must pay stamp duty on it. Otherwise, the district magistrate might impose a penalty on the same. The benefit of the rental agreement registration is that you can enforce the agreement as it is a legal document. So, to conclude it is very important to go through the checklist thoroughly and be safe.

For more information

Rental Control Act – Rental Agreement, Rights of Tenant and Landlord

https://www.magicbricks.com/blog/rent...

Model Tenancy Act 2021 – Protects the rights of landlords and tenants

https://www.magicbricks.com/blog/mode...

The Ultimate Landlord Tenant Checklist for First-Time Renters

https://www.magicbricks.com/blog/chec...