Visit the place at least once – where you want to stay for rent – before signing the lease. They must not only check the condition of the house, but also make sure that all electrical and hydraulic connections are working properly. Check the windows to see if they open, close, and block correctly. Inspect the walls as well. Also, make sure that all appliances in the house are working properly. Normally, it is the responsibility of the owner to ensure that the property is restored to the property in good condition. This would mean that all electrical and hydraulic connections are in working order, that the electricity meter and the hydraulic motor are in working order. Kunal, who came from a small town in Mumbai, thanked his stars for a rental accommodation that was in good condition and very close to his office. He decided to stay there for four to five years, until he bought his own house. So he immediately signed the contract with the owner.

He paid 50,000 on bail to his landlord on the first day of his stay and agreed to regularly pay a monthly rent of Rs. 7,000. A lease/lease is a legal document that states that the landlord and tenant agree to abide by the rental rules and agreement. Typically, a rental agreement is drawn up by the real estate agent mandated by the owner and the tenant. To validate the agreement, both the lessor and the tenant should sign the agreement in the presence of two people who are not beneficiaries of the property and who sign the agreement as witnesses. In most cases, the real estate agent is at the same time one of the witnesses. Kunal would have avoided this situation if he had read his agreement correctly and made changes that could have better served his interests. There is a high demand for rental housing. Here are some important things tenants should keep in mind before signing on the polka dot line. A lease contains the conditions under which the property is rented. The agreement contains the name of the tenant and the name of the owner and the address of the property indicated at the time of rental. A common mistake we usually make is not reading a contract before signing.

Get a copy of the lease and be sure to review everything before signing it. The lease could also include additional monthly fees, such as the company`s maintenance fee, electricity bill, and water bill to be paid by the tenant. The rental agreement may also include mention of facilities such as parking spaces included in the property….