Looking for a house on rent is a tedious process. Right from finding the right locality to finally getting the formalities done. All sums up to a lengthy and careful procedure. Most people seek expert help while searching for Ahmedabad properties due to the various formalities that must be taken care of before taking a flat or any property on rent.
What To Check During Rental Agreement Procedure?
1. Agreement Check
It is the most important document to check while entering into an agreement for rent. The rent amount and its escalation needs to be gone through properly. Every agreement has essentially the rent amount as well as the escalation mentioned. Depending upon the criteria mentioned, the landlord can be challenged for unrealistic escalation if mentioned. Most common format that is followed in case of renting a property is to have an escalation of 10% after a span of 11 months.
2. Duration, Renewal & Security Deposit
The renewal of the rent agreement has a standard duration of 11 months. The security deposit needs to be taken care of while entering into a rent agreement as the same amount will be considered as a depository while vacating the premises.
A rent agreement usually contains the details about the termination clause which states the duration of rent agreement and notice period. The clause has to be read carefully in order to avoid any dispute or conflicts later on.
4. Fee & Charges
One of the most essential aspects to be taken care of while getting a rent agreement done is to understand the fee and charges if applicable. Most tenants usually bear the charges for the rent agreement formalities for the final document. The same should be cleared beforehand along with understanding the mode of payment as well.
5. Rent due date & penalty
The date for paying the rent amount should be clearly checked along with any penalty amount mentioned in case of delayed payments.
Clarity on using any of the amenities must be gone through properly at the time of signing the agreement. In case of residential properties, use of a swimming pool, society garden, elevators, parking areas etc. must be considered as an important aspect to be covered in the agreement.
Also Read: 7 Questions to ask before buying a house
7. Additional Charges
You must ensure to check for any charges which might include taxes, maintenance or any additional charges. The terms and conditions have to be clearly gone through for a smooth process.
While renting a house, few more parameters must be kept in mind to ensure a smooth tenant experience. In case you are searching for 4 bhk flats in Ahmedabad, its utmost important to get all the details. Few localities might have terms and conditions for certain things which include pet permissions, playing music for certain time only and few more as per the resident association rules. Renting a property must be a cautious decision with utmost care to make it as a smooth and hassle free living experience.
All in all, keep a check on all the parameters & have a pleasant stay!