Thinking of getting a place to live in a new city or simply a place to stay in when you don’t own a property? You must make sure that you have applied for residential rental agreement. In order to, simply avoid any possibility of disputes and secure your expected interests, it’s recommended to include clause in your rental agreement.
Have a look on them that are discussed as below:-
- The security deposit
The landlord is likely to take a security deposit from the tenant. This is a type of monetary security just in case, the tenants cause any damages in the property. This amount taken is to be mentioned in the residential rental agreement document. If there comes a situation where the tenant doesn’t pay the monthly rent and isn’t traceable too then it’s wise to mention in the Clause of your rental agreement whether the security deposit is refundable or not. It’s also rather advisable to include the time frame in which such a security deposit is to be refunded.
- The rent
The residential rental agreement includes the detail of how much amount is to be charged each month for the rent from the tenant. It should also include in which manner the payment is to be received or made. You can also mention in your rental agreement about the penalty levied on not paying the rent on time.
- The tenancy term
The landlord or the property owners likely to consider a lock-in period of at least 6 months. This is for ensuring at least the 6 months of stay of the tenant of which he shall also give rent of. Also the rental agreement Registration depends on the term of tenancy.
- The maintenance charges in case of repairs.
It should be made very clear in the residential rental agreement that what maintenance the tenant has to pay apart from the rent. It could be for maintenance of water supply, electricity and society charges. Another thing to include in your rental agreement is whether the tenant or the landlord will pay for the minor repairs or damages caused during the stay of the tenant on the rented property.
- The list of the amenities and fixtures.
It is to be mentioned in the rental agreement, about the fixtures, fittings and amenities are in working condition and already are available on the rented property. This will include the furniture, air conditioner, geyser, RO, fans, lights etc already fitted in the rented property.
- The grounds on which the tenant could get evicted.
The property owner making the rental agreement must put a clause that includes on what grounds the tenant could be liable for eviction. This could include certain bad behaviour or illegal activities. In addition to this, the tenant must ensure this in the rental agreement. This is in compliance with all of the laws that are relevant to government regulations.
It’s often made quite clear in the rental agreement about the fact what sort of people can possess the property on rent. This clause is negotiable with the landlord in exceptional cases of necessary circumstances.
- The renewal of the rental agreement.
Because the rental agreement gives a specific duration for which the residential rental agreement is valid. Once that time period is over, the rental agreement is to be renewed and this is an essential factor. While renewing the rental agreement, it must be mentioned by how much percentage of the hike there has been in the rent, if any.
Are you willing to apply for residential rental agreement? If yes then you are at an absolutely right platform where our highly skilled professionals are dedicated to help you in every online legal process at Enterslice. You can leave us an email we will shortly revert you and will provide reliable solutions to your issues immediately under the expert consultation.