precautions to be take before renting a property
rpjain
(Querist) 31 January 2011
This query is : Resolved
Respected Experts,
what minimum precautions one should need to take before giving property either resedential or commercial on rent to avoid any litigation afterwards and to take possession back whenever needed?
Amit Minocha
(Expert) 31 January 2011
better enter into a license agreement instead of lease agreement. Do Insert heavy damages/mense profits clause for over stay. Register the agreement if the tenure requires so under the law. Must have good security amount as well.
A V Vishal
(Expert) 31 January 2011
Check out the credentials of your proposed tenant by getting his identity proof and some independent references who can give you fair information about your tenant . Also check up the clauses included in the lease deed are perfect and cover your interest reasonably well.
Devajyoti Barman
(Expert) 31 January 2011
Whatever best the clauses be in your favour, if the tenant refuses to vacate the property you have no option but to file a suit for eviction.And the Rent Acts in most States are in favour of the tenants only.
malipeddi jaggarao
(Expert) 01 February 2011
What if the property say house property is rented out without entering any lease agreement. It is most common that the house owners neither enter into lease agrement nor give the receipt for the rent. What are the advanges and disadvantages for the owner vis-a-vis tenant in such cases? Can anybody throw some more light?
Advocate. Arunagiri
(Expert) 01 February 2011
Even if the agreement is not there, you have to go through the legal process for eviction the person who is in lawful possession.
M V Gupta
(Expert) 01 February 2011
The practice of not entering into lease or leave license agreement is based on the wrong notion that the Land Lord can throw out the tenant whenever he wants. But this may in many cases prove dangerous to the interests of the land lord as well as the tenant. If your property is in Maharashtra, you may give the property on leave licnese bsis which is very safe. As suggested by Mr. Amit insert clauses for heavy damages (under the MR Act it is double the rent agreed upon) and also provide for annual increase in the rent. In case the occupant does not vacate u can file an application for eviciton before the Competant Authority who will dispose of the applicaiton within 6 months, subject of course to contingencies.
R.venkatesh Naidu
(Expert) 12 February 2011
first you prepare a proper rental agreement, and you make proper clauses with help of an advovate, then you proceed. but you must be alert any time for better.
