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Essentials To Know Before You Sign a Rental Agreement

5th July, 2019
Essentials To Know Before You Sign a Rental Agreement

Moving to a new city in the future to explore more opportunities for yourself? Looking out to find rental accommodation to stay? Planning to work or study for your masters in an entirely new place to upgrade your life. Finding an appropriate place to rent for the duration you plan to stay could be a mammoth task. During this process, you might meet many landlords who have different terms and conditions. You should be aware of your rights as a tenant so that you avoid being taken on a roller coaster ride. To avoid having any disputes with your landlord after you move in your desired house on rent it is equally important to check the rental agreement for all the key points before you sign it or before you move in that house. Few essentials you must know before you move into a rental home.

Check the agreement properly

It might sound excessively fundamental and obvious, however truly the majority of the tenants either don`t read the whole agreement cautiously or are unable to comprehend the legitimate language utilized in the tenant contract. There might be times when you are only gazing at the consent to unravel the significance of your tenant contract. It is in fact not wise to translate that the guaranteed things in the contract are referenced by the landowner and you can unquestionably make all necessary commitments. On the off chance that you are unable to decipher what precisely the contract means, you ought to counsel a legal advisor. For situations where it is outside your ability to comprehend, you have to look for the assistance of a legal advisor to guarantee that you aren`t putting your well-deserved money in some arrangement that transforms into misfortune for you.

Rent and Overhead charges

Rent should be determined by various factors such as location, quality of construction, modern amenities provided and age of the property. Experts say that usually certain premium is linked to the property value if it is located in prime areas and that location is in demand. For the most residential property of India, landlords can increase the rent by around 10% every year. It is advisable to clear these things before you sign the rental agreement to avoid a dispute between a landlord and tenant. Rental rates differ from city to city and locality to locality, you can always negotiate the amount with the landlord if you feel he is charging you more, instead of sticking to the mount which he has proposed in the agreement. The way to this is to talk with the landlord and agree on a reasonable rate. Nowadays facilities like power supply, a water tank, and other utility services are being provided by renowned builder in their new residential projects. Tenants should not be informed verbally about the overhead costs instead they should be clearly mentioned in the agreement. It is the tenant`s responsibility to check these essentials before signing the agreement.

Check landlord’s details thoroughly

It is very important to verify each and every detail provided by the landlord. It is very crucial to check the clauses written on the agreement before signing the papers. The information provided by the landlord should be verified does not mean just checking the landlord`s background. There have been many fraud cases where the landlord transfers the property to a relative, and further lease it to a third-party person without even informing the actual owner of the property. So, it is necessary to check every detail of the landlord including the documents provided by him.