Rakesh looked for a place to rent and found one with a suitable rent. He then completed the transaction and signed a rental agreement form with the owner.
2. INTRODUCTION
Rakesh looked for a place to rent and found one
with a suitable rent. He then completed the
transaction and signed a rental agreement form
with the owner.
Rakesh later learned that the house's actual
condition isn't so great. He made the decision to
leave the residence and told the owner of this.
However, the owner challenges his decision,
claiming that Rakesh needs to give written notice
of two months' notice or pay rent for four months
in order to obtain a permit to vacate the
property.
3. WHAT DOES THE RENTAL
AGREEMENT'S "LOCK-IN
PERIOD" MEAN?
The locking period establishes the
window of time during which any
party can terminate the agreement
before the lock-in period is sent; if
this happens, the party will be
responsible for paying rent for the
balance of the lock-in period.
4. IMPORTANT THINGS YOU SHOULD
CHECK WHILE ENTERING INTO AN
AGREEMENT
Ownership ofOwner : Verify whether
the individual claiming to be the
owner of the property is, in fact, the
owner before signing the agreement.
Request the Ownership Proof from the
Individual, Check the Proof, and Keep
One Photocopy for Your Records.
5. RENTAL AGREEMENT TERMS & CONDITIONS
Before signing the rental agreement, briefly go over the terms and conditions
with the owner. As necessary, alter the terms and conditions. The terms and
conditions that the renter needs to review are
• Hike of Rent Clause
• Repairs and Maintenance
• Lock-in Period
• Duration of Agreement
• Sale of House
6. CHECK PREVIOUS
BILLS OF HOUSE
WHY DO YOU NEED TO
Examine all of the household's past
due invoices and determine
whether they were paid on time or
not to prevent any issues down the
road. The bills for gas, electricity,
water and house taxes need to be
checked before signing a rent
agreement.