Rent Agreement Checklist
If you plan to take an accommodation on rent, it is always advisable to be well prepared rather than relying on someone’s advice and intellect on rent agreement constructs. And while you do that, there are a few important things that you should never overlook. We have penned them down for you, so you have a pleasant stay as long as you are living there.
Make sure to check the amount mentioned in the rent clause and clearly understand the terms of increment. In case the owner decides to increase the rent at will outside the contract terms, you will have a legal proof to confront him. A 10% rental rise every year is usual but make sure that it is documented. Typically, the lease is renewed every 11 months since it has to be registered if the duration is higher. One more thing which is of utmost importance is the security deposit and the reimbursement of the same at the time you vacate. The document should also list a termination clause, specifying the tenure of stay and notice period, if any. Getting clarity on then mode of payment is also considered wise.
Facility fee and charges
It is advisable to ensure that the rent deadline is clearly mentioned along with the penalty amount you will incur if any, in case of a delay. You could also be expected to pay for various facilities in the society, such as gym, parking, club and swimming pool, regardless of whether you avail of these. Therefore, it becomes mandatory for you to check that all the charges you need to pay are clearly stated in the agreement. Also find out whether the previous maintenance charges, utility bills and property tax have been paid by the former tenants or owner before you move into the house.
Check closely for existing damages
Though it is obvious that you will visit the house you are going to rent, most people do not pay much attention to detail. So make sure that the basic construction, including walls and flooring, paint work, electrical appliances, switchboards and wiring, water connection and plumbing fixtures in kitchen and washrooms are in good condition. Any damages or wear and tear you notice should be brought to the owner’s attention immediately. And get them repaired before you move in. Doing this also ensures that you are not held responsible for any damage that was already there before you moved in.
Who bears the maintenance?
It is also important to make sure that the rent agreement clearly mentions who will pay for the regular maintenance work and whitewashing or paint work that is required in the house after you move in. Things like old electrical wiring or plumbing and other wear and tear in the house may need fixing in near future. Also find out if the owner will bear the repair in case of any accidental damage or in the event of destruction due to natural calamity. Ensure that the agreement lists clearly who will pay for which kind of repair and maintenance. Have it clearly stated in the agreement which kind of maintenance you will take care of and whether you will be reimbursed or not.
Know your owner
An important fact to crosscheck is whether the house is being rented by the actual owner or by a tenant or a caretaker without the owner’s knowledge. Verify the title documents like sale deed and make sure that you get a no-objection certificate (NOC) from the housing society as well.
Other terms & conditions
While there are some society rules you are expected to know, the owner might also have added his own terms and conditions to the document. It is suggested that you thoroughly read before agreeing to any of them. A few common conditions could be no pets, late hour entry, loud music or late night parties. Only once you have read the terms, decide whether the property suits you or not.
Trust these little things mean the most, as they will make your living experience in the rented accommodation pleasant and peaceful.