Important sections to cover in your rental agreement
Renting home is one of the sources of income for landlord and a solution for people who shifted to new location or family who don’t have enough money to owe an own house. Earlier tenants were exploited by landlords and in some case landlords are in trouble by providing their property to tenants who make nuisance or mess in building.
Rental agreement is agreement or mutual understanding between tenant and landlord on the terms and condition for lending a property for rent. In a rental agreement landlord will explain terms and conditions and prepare a written document where tenant and landlord will sign and a copy of the same will be handover to tenant. Making agreement in written is good for future purpose and if any change in condition it will be informed with prior notice of 30 days.
Important sections to cover in rental agreements
Rental agreements need to be written in a stamp paper and signed by tenant and landlords. Here are some common agreements or conditions that need to be included in an agreement for keeping property in good condition and make prompt pay of monthly rents.
- List of things: List of things is facilities or appliance provided by a landlord to tenants along with property for rent. Things include appliances like number of fan, geyser, light fittings and so on. These things cannot be taken with them by tenant when leaving property.
- Due date: The date for paying each month’s rent and the date when it is considered as late payment. If there is any charge for late payment and time to take action when continues default.
- Right to enter: The date or time from which property is let to rent. Tenant need to inform prior to landlord from when he starts using the property or building.
- Garbage: Need to specify orally or in written where to keep garbage for collection by garbage collector and how to dispose garbage. The improper dispose of garbage creates problem for fellow tenants and for it become health problem
- Policies: Policies regarding parking vehicle and whether pets are allowed in the premises or not. These have to be clearly mentioned in rental agreement than become problem in future.
- Notice period: Tenant should give at least one month notice prior to leaving and demanding for deposit. Landlord must ask a reasonable time for giving back deposit.
- Restoration: Conditions which need to restore the dwelling place or building. It includes repairs and paintings, plumbing if required and so on.
A landlord should ask identity of person who are using the property. Remember not to give your property or building for people who have criminal background or do not allow continuing if you doubt on their action or if they involved in some anti-social activities.
