Utility News Desk !!! If you are also going to rent a house, then you should take special care of some things while signing the rental agreement. To rent or lease a house or building, you have to get a rental agreement. If you do not sign the agreement, you may get into trouble in the future. This agreement explains the conditions of the tenant and the landlord. On which both the parties have to sign after making the agreement.
This includes information on rent increases, repairs and maintenance and other payments. Let us tell you what 8 mistakes should not be made while signing a rental agreement.
Avoid the wrong tenant – Before renting out a house or any property, do a thorough investigation of the tenant. Renting to the wrong tenant can land you in trouble in the future.
Decide the rent wisely – If you have a house, then you must be spending on its maintenance. In such a situation, you should ensure that your tenant also keeps these things properly and decide the rent accordingly.
Set up the tenancy in a professional manner – Tenancy is not a hobby, it is a business. So you must do it the right way. For this, hand over the property to the tenant only after properly executing the rental agreement.
Tenancy period – Legally, the typical tenancy is 11 months. You must decide the duration carefully.
Termination and Notice – If the tenant does not follow the terms and conditions of the agreement, the landlord can ask him to vacate the property and terminate the agreement. At the same time, the tenant and the landlord have to give a month’s notice to vacate the premises.
Lock-in period- Under this condition, the landlord cannot let the tenant move out of the property without informing him. That is, if the tenant wants to vacate the house and move to another city, the landlord has to inform him in advance.
Payment – The landlord must fix a specific date for payment of rent. The tenant must pay the rent to the landlord on that date.
Default Clause: Under this clause, the landlord can set his own conditions and penalties.
