Planning to buy a home in Prestige City Plots Sarjapur Road Bangalore?
When getting into rental accommodations either buyer or the owner has got to face disputes. Therefore, when you talk about rental accommodations there are certain rules and regulations that you need to be aware of so as to avoid any glitches when buying or letting out your property in The Prestige City Apartments.
Being a landlord, you want to provide your tenants these with the property-Accurate detail of the licensed property, just like the size of the property, the car parking lot , safety and privacy to use and luxuriate in the property, licensed agreement duly stamped and registered, title interest, clear right forum interrupted use of the property, etc.
Being a buyer when your handover the payment to the landlord- usually tenants should give advance to their landlords as a security. To avoid any case of damages or any non-payment deposits are given to landlord. The deposit period is typically stipulated and therefore the amount is inclusive of administrative fees. The landlord should specify the conditions of deduction from the deposit at the time of tenancy completion.
More to know…
Who will bear the value of repair, you as a tenant otherwise you as a landlord? Ideally the licensor that’s landlord should bear all the value arising out of structural damages or wear and tear caused to the property from the monthly fees they enjoy. But mostly parties come to an understanding where the regular break down is borne by the tenant and therefore the long-term structural damages are taken care of by the owner.
Conditions when tenants are asked to go away the property- as a landlord there are two conditions once you can ask your tenant to go away the property. Firstly, by a pre-decide notice period i.e. without a cause eviction. Secondly, with cause eviction that has number of things like violation of any clause within the agreement. Consistent delay in payments, illegal activities in the property or any serious damage to the property. If any of those exist, you’ll be asked to vacate the property.
Increasing rents: This is totally upon the understanding between you and your landlord. As per law, there’s not any cap on increase in rentals and therefore the tenants must settle and negotiate on fair terms.
So, as you have decided to invest in the luxury abodes in The Prestige City Plots Bangalore, keep the points mentioned above, whether you are buying to let-out or buying to live in tenancy. Have a happy housing at The Prestige City.
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