Are you renting a property? Before making the decision, there are some essential aspects to be aware of, including factors related to the state of the apartment and the associated expenses and pertinent documents.
If you come across an apartment you'd like to lease after a few excursions to the area, and you're looking forward to moving into it. But before you move into your new home, you need to be aware of certain factors that will ensure that your stay at home is comfortable.
1. Perform the basic check
It's not a good idea to have an unsanitary bathroom sink or electrical fixtures that are broken in your new residence, do you? Ensure to run each faucet and press the buttons to check whether the water flow is in good order and the lights are functioning perfectly. Also, make sure the house has been freshly painted and there isn't water seepage within the home.
2. The Lease Agreement
After you've identified your tenant and you've found your tenant, the next step in renting out your house initially is to create a cooperative lease agreement. A lease agreement consists of:
- Name of all parties (tenant and the landlord);
- The terms of the contract;
- Rent amount (over an amount of time and possibly how you'll be
taking rent);
- Conditions for security deposits along with other costs;
- Right of entry*
- Interdiction of illicit activity as well as other destructive
practices.
- Maintenance agreement;
- Responsibility for the damages to property;
- Pets are pets. (or to not);
- Tenancy limitations (for instance, subleasing).
- The right of entry outlines the conditions in which you, as the
landlord, have the right to access the property and the amount of notice
required. For instance, landlords can access tenants' homes to make
repairs or perform regular maintenance.
- After signing the lease contract, have an attorney or professional legal review the agreement. Then, review this with your tenant (in the fullest detail) to ensure no changes are required. Sign the lease and date if both parties agree with the lease's terms.
3. Know your rights
A lease agreement grants you a limited amount of rights in the rental property, and knowing these rights will ensure no confusion between your landlord and you. Your landlord, for instance, can't interfere with your private way of life; he cannot block visitors from entering and can't dictate the time you must return home. The landlord can also not demand that you leave the house if the lease remains effective.
4. Costs for maintenance
The monthly and annual maintenance clauses can become a significant problem for disputes between the owners and tenants. A tenant must be informed about the terms before leaving the apartment. The regular maintenance of electrical boards, water pipes, and wiring may not be on the list; however, extensive outdoor or indoor damage repair and wall colouring could cause contention. This is why these issues must be discussed immediately.
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5. Rent increase and lock-in percentage following the expiry of the contract
The lease agreement between the owner and tenant should be clear about a good lock-in time (the minimum time for staying) like 6 months, one year, or three years. The typical lock-in duration will be one calendar year. In addition, when moving out of the flat, the notice period, modification of the advance security, and the electric bill payments must be discussed. In this regard, the lease contract should be read with care, and it is essential to clarify any confusion before moving into the home. The percentage increase in rent amount should be discussed when signing the lease agreement. The rent hike that is allowed and the period following when a walk is justifiable is determined by Sections 6 and 8A in the Delhi Rent Control Act.
6. Check the Floors, Walls, and Carpets for Damages or Stains
When you walk into a rental house, the first things you'll notice are the walls, floors, and carpets. It's common for walls to have tiny holes left by the pictures of previous tenants or artwork (provided the landlord did not repaint or repair the walls when the previous tenant had moved out) or for hardwood floors to show some minor scratches and scratches, you must ensure that any more noticeable damages (like a massive hole in your walls or obvious staining on carpets) are noted on the report of inspection (usually an inspection report will take photos) to show that the damages are the fault of an earlier tenant. Additionally, you might decide to bring your own photographs of the damage to keep for your records.
Let's talk about your shifting; if you are searching to rent property, you must hire a packers and movers company in Jaipur to shift your goods. So constantly aware that you have to hire verified packers and movers.
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