If you think moving into an apartment is a cakewalk, you’re probably mistaken!
Now, you must be wondering- why? All we need to check the locality, amenities, parking facility, 24*7 electricity, and more.
But that’s partially true!
Moving into an apartment as a renter involves significant legal formalities that you cannot overlook.
What if the landlord starts charging for unit maintenance and fixing repairs? What if a dispute arises between you and the owner?
In such cases, it is prudent for you to know the terms and conditions and execute a rent agreement. Let’s discuss them in detail!
Examine the Rent, Security Deposit, and Other Payments.
The contract must include the monthly rent amount and due date.
In most circumstances, landlords want a security deposit for 2 months. Check the amount of the security deposit and when it will be repaid in the agreement.
Also, make sure the contract specifies what else you’ll be responsible for, such as power, water, PNG, maintenance, and so on.
Electricity bills are usually in the name of the owner. Always double-check previous dues or penalties for past late payments. You can also inspect the overall load allowed, especially if you plan to use heavy load appliances.
If you are choosing an apartment on rent, you can consider Kasa Living and ask your landlord to apply for a high-wattage electricity meter.
When it comes to tenants, many housing societies have particular restrictions and reservations. To avoid future squabbles, it’s a good idea to ask the landlord about the social rules and the no-objection certificate from the housing society office.
If you want an apartment on rent equipped with high-end facilities where the legal process is a breeze, look no further than Kasa Living.
Check the List of Fittings/Fixtures in the Contract
The agreement should also include information on the house you are renting, such as the floor or apartment number, the size of the house, the number of rooms, bathrooms, living area, and kitchen, among other things. Make sure there is a list of all the fixtures and fittings, such as the number of fans, beds, tables, sofas, chairs, wardrobes, lighting, number of fans and so on, if it is a furnished residence.
Don’t Overlook Agreement Registration
Make sure you register the rent agreement immediately. Unregistered rent agreements are not regarded as primary evidence by the court in the event of a disagreement, and you may be required to present additional supporting documents to prove your position.
To register a rental agreement, you must pay stamp duty and a registration fee. The charges are usually split between the tenants and the landlords, but the agreement should specify this. There should also be clarification on who is responsible for paying fees such as legal fees, if any, or brokerage to agents.
Many landlords forbid renters from having pets. If you have a pet, talk to your landlord about it before signing a lease. Non-vegetarian tenants are also a source of contention for a few. Other questions to address include whether you are permitted to utilize the terrace, parking space, garden, or any other social amenities.
The original copy of the rent agreement is usually kept by the landlord, but you should always preserve a copy.
Duration of Agreement and Renewal Procedure
Rent agreements are usually signed for 11 months. You can, however, enter into a contract for a longer time. Make sure the duration is stated explicitly.
Also, be sure that the lock-in time (during which neither the renter nor the owner can cancel the agreement) is included in the contract.
A landlord-tenant agreement can be time-consuming to draught.
Before you choose an apartment, keep an eye out on these things to ensure a secure transaction.