Rent Agreement Rules Awareness: Do you live in a rented house or flat? If yes, then this news is for you. Because, usually people sign the rent agreement in a hurry, that too without reading its terms and conditions carefully, which later becomes costly.
Also, problems like heavy fines, legal hassles or staying in the house for a long time without your consent keep coming up. In this news, we are going to tell you about those important terms, which are important for every tenant to know and understand thoroughly.
Why is it important to read the Rent Agreement carefully?
Legal experts say that tenants often ignore important terms like lock-in period, rent hike and maintenance. These later become the reason for big disputes or losses. For example, suppose there is a lock-in of 12 months in the agreement and you leave the house due to transfer in just 6 months, then the landlord can ask for the rent for the remaining 6 months or confiscate the entire deposit.
Keep in mind deposit and rent increases
If you are a tenant, a reduction in the security deposit can also be a big blow. Legal experts say that if the agreement has loose terms like normal wear and tear, the landlord can take advantage of it.
For example, suppose your rent is Rs 25,000 per month and you have paid Rs 50,000 as security deposit. While leaving the house, the landlord deducts Rs 10,000 for painting, Rs 5,000 for cleaning and Rs 3,000 for minor repairs. Even if there is no major damage. The result? You will get only Rs 32,000.
Experts say that if the terms of the reduction are not clear in the contract, then the tenants cannot easily oppose it. The increase in rent is also a matter worth paying attention to. A 10% annual increase means that the rent of Rs 25,000 will become Rs 30,250 by the third year. Most tenants do not even make a budget for this.
What conditions should be avoided in a rent agreement?
- Lock-in period: During this period both the tenant and the landlord are bound by the rules of the agreement (tenant legal protection). In which if the tenant leaves the house before the stipulated time, he may have to pay 6 months’ rent or a fine. At the same time, the landlord cannot vacate the house before time even if he wants to.
- Notice Period: A notice period of one or two months in advance to terminate the agreement.
- Maintenance and repairs: Sometimes the agreement also puts the responsibility of structural repairs and society charges on the tenant. So this is a point to be noted in the agreement.
- Subletting clause: Can you keep someone else in the house? Because, letting friends or family stay can also be considered a violation of the agreement.
- Termination Clause: How and when can the agreement be terminated?
- Indemnity Clause: Who will be responsible for paying compensation in case of any loss.
What to do if landlord imposes unfair terms?
One-sided and unfair terms can be challenged in court. However, according to legal experts, if the agreement is signed without reading it properly, then even the court cannot help. Experts say that do not consider the rent agreement as a mere formality. Because, a little caution and legal investigation can save you thousands of rupees and headache later.
