Be careful when you sign a tenancy agreement

1. 22 Apr

2. Be careful when you sign a tenancy agreement By Affinity

When you shift to a new city, whether to study or work, the first thing you look for is an accommodation. It isn’t always easy to buy a new house and hence many prefer renting a house. This is where the rent agreement comes into the picture. It is prudent to know beforehand what you’re getting for your money and sign the document only after reading the fine print. It ensures you have a legal alternative if you ever have a problem with the landlord.

The luxury flats in Zirakpur by Affinity Greens have every amenity you can think of. A perfect property to invest your money. But if you’re renting at flat here, kindly make sure there is a rent agreement between you and the flat owner. A rent agreement is a binding contract that has the tenant’s and the landlord’s name, address of the property, security deposit, and the date when the rent is to be expected every month. You must make sure the previous bills like electricity, gas, and water are settled by the former tenant.

The other questions you must ask yourself before signing are:

How long do you intend to stay?

The rent agreement also mentions the duration of the agreement which is usually a year, along with the conditions under which it can be terminated. The common rule is that the security deposit gets forfeited if the tenant leaves the house before the contract has expired. Unless, of course, the tenant has given at least a month’s prior notice. In the same way, if the landlord wants the tenant to vacate the premises, he/she has to compensate the tenant for the same. This compensation is the security deposit plus another amount equal to it.

Any specific requirements by the landlord?

There are times when the landlords are very particular about certain things like no pets in the house, usage of the terrace, parking space, whether they prefer vegetarian tenants, etc. In fact, many times, some societies also have various rules for their residents. So make sure you are able to fulfil the basic demands of the landlord and the society before signing the document.

Is everything functional in the house?

The description of the house and the amenities provided should also be mentioned in the rent agreement. These include furniture, geyser, air conditioners, number of fans, etc. Most rent agreements also state which floor the rented room is on.

Also, check whether the appliances given are in working condition. Major repairs are the headache of the landlord since he’s the one renting a damaged property. Although if you damage anything during your stay, the landlord has the right to use your security deposit to repair it. See that the documents clearly mention everything.

Finally, have you registered yet?

Always remember to make sure the rent agreement is registered. Because if you face trouble with the landlord in the future, unregistered agreements won’t be considered an evidence in court. For a period of one year or less, the tenants only have to pay the stamp duty that varies from city to city. The documents required for registering include proof of ownership of the property, tax receipts, and address proof and photographs of both the parties and the witnesses. After you’ve successfully registered, keep one copy for yourself.

Affinity Greens has built the best 3 BHK flats in Zirakpur, just in case you’re looking to shift to a new house in town. Visit affinity greens  for more details.