Are you renting a flat?
Renting a flat may seems to be a huddle and once you find your dream home, you should not forget to legally complete the required formalities 1. Physical inspection of the flat 2.Maintenance charges 3.Brokerage discussion 4.Facilities in the society 5.Rent increase percentage Legal documents You need to get your legal formalities completed under Registration Act. As per the Registration Act, it is compulsory for lease agreements of immovable property to be registered, which are more than 11 months duration. Under certain Rent Control Legislation, it may be mandatory in some states to get a rent agreement registered irrespective of its duration. Here’s a look at some of the important points to keep in mind before you rent that home. 1. Maintenance Charges - Clauses of annual and monthly maintenance can be a big issue of dispute between owner and tenant. So, a tenant should be well-informed about conditions before renting the flat. Regular maintenance as...