Don’t Skip These Rental Agreement Provisions

Seeking new opportunities it has become quite common that people move from one city to another. People move for several reasons but one thing which is common amongst all of them irrespective of the countries or states is that they all seek a rental property. They'll need a place to stay as soon as they arrive in the new city. Because it's difficult to buy a home as soon as you move to a new city, particularly in metros, most people opt for a rented apartment. However, before renting a house, you should familiarize yourself with the terms and conditions and sign a lease agreement. The rental agreement is one of the top elements in real property management. In simple words, a rent agreement guarantees that you have legal protection in the event of a dispute with your landlord, which is why the provisions contained in the agreement must be carefully read. Here are a few rent agreement provisions that you must look for.

Pay, Security Deposit, and Other Obligations

The agreement should clearly specify the amount of rent you would pay per month as well as the due date for payment. Many landlords ask for a security deposit, which is normally equivalent to one or two months' rent. Mention the duration of the security deposit and when it will be refunded in the contract.

However, it is important that the contract defines what else you'll be liable for, such as power, water, PNG, repairs, and so on. It should also be clarified if there is a different meter for electricity connections, which you must pay bills for, or whether you must pay a fixed sum every month.

Agreement Duration and Renewal Requirements

Rent agreements are typically negotiated for a term of 11 months. You may, however, enter into a contract for a longer period of time. Make sure the tenure is stated clearly. You can choose the period of stay according to the contract of your job if there is any.

Pro tip: make sure that the lock-in duration, during which neither the tenant nor the landlord may terminate the agreement, is specified in the contract.

Fixtures and Fittings List

The agreement should also contain details about the house you are renting, such as the floor or apartment number, the size of the house, the number of rooms, bathrooms, dining area, and kitchen, among other items. If there is a case in which you’ve selected a fully furnished place, then it is highly recommended to make sure that there is a list of all the furnishings over there, for example, beds, tables, AC, fans extra almirah, and lights as well.

Limitations

You must have heard about the restrictive landlords. Well, this point is completely about them! Many landlords prohibit tenants from keeping dogs. If you have a cat, speak to your landlord about it before signing a contract. Non-vegetarian tenants are still a point of contention for a few. Other questions to answer include whether you are allowed to use the terrace, parking room, garden, or any other social facilities. The original copy of the rent agreement is normally retained by the landlord, but you can still keep a copy.

These points are really important, and it’s better for you to seek professional help, the one which would provide help like landlord management services, real property management, etc.

My name is Ranny Watson. I'm a professional Digital Marketing Expert.