ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Railways
  • World
    • Economy
    • Politics
    • Markets
  • Survey
  • videos
  • photos
  • More ...
    • VIDEOS
    • PHOTOS
BREAKING NEWS
  • Mahindra & Mahindra stock hits 52-week high as brokerages bullish on counter post Scorpio-N launch; check target prices
  • GST Council meet begins today: Know agendas of Finance Minister Nirmala Sitharaman's led two-day meeting
  • Security deposit on commercial LPG connection goes up by Rs 1050 for 19-kg cylinder; check new rates
  • Cash-starved Sri Lanka to end fuel duopoly to ease fuel shortages
  • Xiaomi 12S series set to launch with Leica cameras on July 4: Check key details here
Read in App
Business News » Personal Finance News

Rented a house? Before signing on dotted line, know these 7 key things

Renting a property is not so great option as it requires a bit of documentation, transparency, and understanding between landlords and tenants. In order to avoid unnecessary issues and trouble in future, there should be a discussion on every single thing among the involved parties. 

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Rented a house? Before signing on dotted line, know these 7 key things

The real estate sector is going through a tough phase in India. Amid thousands of ready to buy residential properties in metro and other cities, people are not very willing to buy or invest in residential projects especially. In fact, people are showing more interest in rental properties or house, rather than investing huge money to buy a house. However, these people should know that renting a property is not so great option. It requires a bit of documentation, transparency, and understanding between landlords and tenants. In order to avoid unnecessary issues and trouble in future, there should be a discussion on every single thing among the involved parties. 

Ashok Mohanani, Chairman, EKTA World told Zee Business Online, ''Before signing up for the agreement or going through the process of documentation, tenants should highlight or bring forth their points of concerns and requirements to the landlord’s notice, and can also have it all incorporated in the agreement in terms of clauses that need to be adhered by both the parties. Also, the rentals have the right to perform reasonable background checks of the landlord's credit history and criminal records, to be well-versed with what he/she is signing up for. Right to privacy must be maintained between the landlord and the tenants.''

Here are the 7 key things that one should always keep in mind before renting a house:

1. Every tenant should look for safe and friendly society, followed by homes that are well- maintained, with all essential amenities, considering these will benefit them during their stay. 

2. Ensure that you always execute a leave & license agreement and include an adequate amount of time for notice in the event of an eviction.

3. As the demand for rental segments continues to grow, the rentals need to be taken into consideration to improve on the rental property’s ownership right

4. The landlord is responsible for the expenses for repairs and maintenance of the flat/home and only the incidentals such as electric and gas consumption is the prerogative of the tenant.

5. Right to privacy must be maintained between the landlord and the tenants

6. The agreement requires to consider every minute detail like the number of occupants,  basic preference of having guest very often or the need for certain practices by the tenant or landlord that needs to be followed

7. Ensure the agreement captures all the items provided in the flat, i.e. furnished, semi furnished, etc. And the deposit given, much be captured in the agreement too.

Of course, and perhaps, needless to say, ensure that rentals are paid timely!

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
India Real estateAffordable HousingHouse Rent Allowance
Written By: ZeeBiz WebTeam
Updated: Wed, Jun 26, 2019
11:08 am
New Delhi, ZeeBiz WebDesk
RELATED NEWS
Builders fear non-completion of projects unless raw material costs are controlled: Credai survey Builders fear non-completion of projects unless raw material costs are controlled: Credai survey
Kolte-Patil Developers FY22 sales bookings up 45 pc to record Rs 1,739 crore Kolte-Patil Developers FY22 sales bookings up 45 pc to record Rs 1,739 crore
Puravankara sales bookings in FY22 rise 9% to record Rs 2,406 crore on higher demand of residential properties Puravankara sales bookings in FY22 rise 9% to record Rs 2,406 crore on higher demand of residential properties
Private equity inflows in realty sector dips 32% to USD 4.3 bn in FY'22: Report Private equity inflows in realty sector dips 32% to USD 4.3 bn in FY'22: Report
Realtors on firm ground after tackling pandemic gloom; hope for sunny 2022 with better sales Realtors on firm ground after tackling pandemic gloom; hope for sunny 2022 with better sales

LATEST NEWS

Energy stocks ONGC, Oil India, MRPL, Chennai Petro gain up to 10% on higher crude oil prices – Here is what brokerages say on oil & gas shares

Apple iPhone 14 Pro to feature Always-On Display - Check expected launch date, specifications and more

ONGC chopper makes emergency landing in high-sea; 4 rescued

Wealth Guide: ULIP investments - Advantages explained, myths busted by expert

Polycab share price: What makes this cable stock a good bet in its category? Brokerages see up to 45% upside in one year

Dalal Street Corner: Recovery in global market, buying in auto & metal stocks lift benchmarks; what should investors do on Wednesday?

Rupee tanks 46 paise to close at record low of 78.83 against US dollar

Gensol Engineering stock remains unfazed by weak market sentiments; over 750% jump from Rs 68 to Rs 600 apiece

Amazon Fab Phones Fest: Up to 40% off on smartphones from Apple, Xiaomi, Samsung, Tecno and more

15 more firms selected under PLI scheme for white goods

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
© 2022. India Dot Com Private Limited. All Rights Reserved.
LIVE TV