Real Estate Forum for Purvanchal Silver City 2 in Sector PI I & II, Greater Noida

want to rent out my house for over 5 years

Q: Hi,

I have a 4 bedroom house in an apartment complex in Greater Noida. I first rented it out in July 2010 to an senior citizen who lives alone. The rent agreement was for 11 months. The rent agreement, we signed, mentioned that if both parties mutually decide to further extend the agreement, the rent will be the market rate or atleast a 10% increase.
Since 2010, this old lady has been living in my house till now. Every time, I make a rent agreement for 11 months and we sign. Though the rents have fallen a lot in my area, she has given me a 10%increase every year.
She is a very good tenant- she keeps the house very clean. Pays my rent on time. If there is a delay, she notifies me. If there is anything to be done in the society , she does it for me and we adjust the payment. So I am very happy with her.
She has asked me that she wants to stay in this house as long as she is alive. But now i am worried because she will complete 5 years in my house this year. Is it safe to give an apartment to the same tenant for over 5 years? What if she refuses to pay rent after sometime or refuses to vacate my house after some times? Or if she dies will her children have any stake in my house? Legally, will she be able to stake a claim in my house? And if yes, can I evict her if she does not pay my rent? Is there anything I should do to safeguard my interest?
If it is legally OK to keep making rent agreements for 11 months, then I would like to give her the house on rent as long as she is alive- as she is a perfect tenant (as of now).
Also, I am worried that if a new tenant does not pay the rent I will be in serious trouble - as I have a home loan.
Any advice will be appreciated.

GP

27th April 2016

Rentals in Purvanchal Silver City 2, Sector PI I & II, Greater Noida

long term tenancy

rent for over 5 years

Latest Answer: Yes, I think if she can pay the rent on time and no issue with her then you can go for the agreement for another 5 yrs. If you are the owner, you can prevent your tenants from overstaying by including a clause in the rent agreement on increasing the rent to four or five times the existing rent, if the tenant does not leave when the contract ends. This would put a check on those tenants who play foul. Also, in case the tenant is not vacating the premise even after the notice, you can approach the court. Courts favour the owner if it is found that the tenant is involved in any wrongdoing or the owner requires the property for his personal use.

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rent 2bhk silver city-2 greater noida

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