It is always of great significance that people know certain facts regarding rental agreement. Having some reasonable amount of knowledge regarding rent agreements can help people save themselves from scams, fraud and future troubles.
Mentioned below are some facts about the rental agreement.
# A tenancy agreement is basically an agreement that takes places between the landlord and the tenant. There are a set of rules and terms that are laid out which needs to be followed by both the tenant as well as the landlord.
# The agreement lasts for about a span of 12 months, although a number of landlords go for the 11 months lease so as to avoid the control laws. The duration of the rental lease can be increased or decreased by negotiating with the landlord of the concerned property.
# A security deposit for one month is generally demanded by the landlord which the tenant is required to pay and the amount will be returned fully when the rent agreement expires. The landlord will check the property if it has been left in good condition or not. Any damage in the property, the cost will be deducted from the deposit.
it is advisable to the tenants that to protect themselves from any kind of fraud regarding their security deposit which is a large amount, they should get a written receipt from the landlord regarding the terms and condition about the deposit.
# A notice should be given to the landlord by the tenant for three to four months or for a period that is stated in the rental agreement in case he or she decides to vacate the property earlier than the mentioned duration.
# In the rental agreements, amenities like the water bill, electricity bill, gas bill and maintenance is mostly included. Their costs are either included in the monthly rental amount, if not then the landlord needs to provide the tenant with an electricity card along with the meter reading on it. The same condition applies for the other bills as well, if they are not included in the rent.
Amenities like telephone connection, internet connection and television connection are not included in the agreement as they have to be bared separately by the tenant himself.
# One needs to make sure that the duration after which the amount of rent will be increased is clearly mentioned in the agreement.
# One should check about the certain lifestyle restrictions that landlords put on the tenants such as no non vegetarian food is allowed or no pets are allowed. Check for the marital status as well, as some landlords do not prefer bachelors and women tenants.
These points will help you go for a safe and secured rental agreement.