Kindly advice, we want to give our flat on rent ,the building society says once a tenant is confirmed the ownersof the flat will have to give an indemnity to the society wherein they indemnify the society from any issues created by the tenants during the tenancy term.They are doing this because in the past some tenants had some business crisis and their creditors, banks including police have entered our building after their tenancy term expired looking out for them then the managing committee had to answer them . Now My query is as follows:-
1) Their asking for indemnity bond from the lessors(owners) is it justified under the society laws
2) Can they ask us to indemnify the society from the tenants businees lossesss thaus results in banks/ creditors coming into the society.
3) We are governed by the Maharashtra Society Laws
Thanking You
