A rental agreement is a legal contract between a landlord and tenant by which a landlord gives a tenant the right to occupy the residential premises. A good rental agreement should include essential clauses and must abide laws, failing to comply with which will deem your agreement as illegal. Here are a few things you should know before signing a rental agreement;
The Population in this country has been on the rise for quite a while now. And along with it, so has the market for residential and commercial properties. Given these facts, now might be a really good time for you to invest in property.
Owning a property under your name feels all great, no doubt. But, you also need to know how to maintain it well enough. This includes knowing how to get the monotonous and mundane job of paying your property tax on time.
Ask anyone who’s ever rented property, and chances are that you will hear horror stories about landlords, past and present. A great number of landlords are simply misunderstood, but they’re not the ones we’re talking about here.
You need to have a supremely cool head to deal with those evil landlords, it would seem. Well, we can help you with this when you rent a house; here’s a couple of helpful tips that you can follow to deal with your own landlord from hell!
With the real estate industry booming all over the country and increasing price appreciation turnover value, it’s a buyer’s market. And if you are planning to invest in a property, now’s the time.
Many people, after they acquire properties, just forget the gold mine they are sitting on. While owning a secondary property is a big deal, it doesn’t bring you any cash flow. You would end up spending more money on maintenance and other bills. What you can do, instead, is rent or lease your property to gain a constant source of income and create an additional cash-flow. As a landlord, you also stand a chance to get tax benefits in India.
But before you take the plunge, here’s a list of legal aspects you’d need to look into.
Got a second home that’s of no use to you? Or, are you shifting abroad and want to rent your property without having to hunt for a tenant every 11 months? If yes, then the best solution is to lease out your property.
The leasing option allows you to rent out your house for a stipulated period of time in lieu of monthly or yearly rental payment. The tenant cannot breach the agreement before the expiry of the lease tenure and they’ve to pay the full rental amount before vacating the house. This gives you some peace of mind as you don’t have to hunt for new tenants every year. Also, if you want to sell your house in the future, you can just negotiate with your lessee and sell it off easily.
However, before you decide to draw the lease agreement, here’s an exhaustive list of lease terms that’ll help you understand the terms and conditions better.
You’ve found a suitable tenant and you’re all ready to rent out your house. But before that, you’ve to chalk out a rental agreement, which both the parties need to agree upon. A good rental contract should include essential clauses and must abide by the laws of the state, failing to comply with which will deem your agreement as illegal.
Though owning multiple rental properties might seem like a great investment, taxations can catch you off-guard and derail your budget. Hence brushing up your basics in tax laws and returns will help you in planning your finances.
Here are the answers to the questions everyone needs to know on tax planning for rental income, to benefit from and adhere to the legalities involved in owning multiple properties, flats or apartments.
We Indians have always taken our assets seriously and property is considered the most important of the lot. One of the main reasons for this is because of a house being able to generate regular cash flows every month. Many NRIs also make this investment as well with the idea of returning to India someday and having some place to stay.
Leaving houses vacant for months or years on end is not very feasible to everyone; thus many NRIs consider the option of renting out this property. This makes complete sense as in the last few years, rent prices have gone up majorly in large cities. If you are an NRI who is planning on renting out some property, here are some important tips on rental management for NRI’s in India,