As a tenant make sure to check following clauses in your rental agreement before signing your rent agreement. When sign rent agreement follow these steps. Things to remember before sign rent agreement.
Step to follow when sign rent agreement
1. Refund of security deposit
The rent agreement should clearly set out that the security deposit, if any, paid by the tenant should be refunded by the landlord on termination or expiry of the license.
2. Timeline for rent payment
One should always mention in the rent agreement whether the rent will be paid in advance or after the month gets over with the specified timeline of the dates.
3. No lock-in period Ideally,
there should be no lock-in period in the rent agreement and the tenant should be able to vacate the premises after serving one-month notice.
4. Payment of maintenance charges
It should be made clear in the contract that who will bear the regular maintenance charges of the flat to avoid future disputes.
5. Liability of government taxes
The rent agreement should provide that the property taxes and other such taxes, cesses, and amounts payable in respect of the premises should be the responsibility of the landlord.
6. Terms for wear and tear of fixtures
With ageing of property, natural wear and tear is obvious. Include a clause that the tenant is only liable to bear the cost for damages which are not part of natural, reasonable and normal wear and tear of the property.
7. Terms for renewal
This clause should be about the percentage increase in rent, deposit among other things in the event the tenure is renewed.
8. Protection against sell of property
In case a landlord sells the property while having occupants, the rent agreement should provide that the tenant’s right to use the premises should not be affected by the landlord transferring the premises and that the new owner should be bound by the terms of the rent agreement, if any, to the tenant.
The landlord indemnifies the tenant for any loss or damage caused or suffered to the tenant on account of misrepresentation or breach of contract by the landlord or on account of defect in the title of the landlord to the premises
It will help you lots when you sign any agreement with landlord. I hope you like this blog post keep share with your friends. He/she help lots from it.