When searching for a new property in the form of an apartment, room, house, or even flat that should be near to your workplace, home, or university. Everyone has a different idea of accommodation. In Bangalore for some of the people it is about budget, location, and for someone, it is about price, staying comfortable, and security. Yes, security is the most important factor that can be well assured with an online rent agreement in Bangalore. A lease agreement is something that holds all the rights of tenants and the owner of the property.
Now, let us discuss it further.
- Two basic types of rental contracts: There are 2 kinds of contracts – fixed period contract and indefinite contract.
○ Fixed Period Contract: If you’re going to stay for a specific period then you’ll typically sign a fixed-period contract. The fixed rental agreement included the end date of the rental agreement, no early contract terminations, penalties if the landlord agrees to end the contract early.
○ Indefinite Rental Contract: If your plans aren’t set in stone, then you’ll probably going to get an indefinite rental contract. It includes no end date, the contract may be terminated by the landlord if there are legal reasons, the time of notification must be noted in your rental agreement.
- Name Must be correct: You should make sure that your name is correct. This may seem like a brainer to some people but some landlords may inform students who are sharing apartments that only one name is required on the lease and having one name on the rental contract means that one name will be on the tax slips and utility bills, that one person will be solely responsible for all payments. Hence you have to consider all this.
- Paying your Rent: Payments should be clearly defined in your rental agreement. Some agreements include only basic rent while some contain other utilities such as electricity and water. So, specify before signing. Moreover, make sure that your rental agreement provides a detailed breakdown of the amount, this will make payment division easy if you are sharing the apartment.
- Additional fees: You can expect several different costs associated with relocating which you should include in your budget like agency fees, security deposits, etc. Make sure that these all amounts are included in your Online Rent Agreement.
- Lease Agreement terms: Your rental agreement should include information regarding what can be done and what cannot be done to the property like no smoking or pets not allowed, etc.
- Behavioural Restrictions: Yes, you are making the apartment your house but it’s still a rental one, so there might still be some expectations when it comes to your behaviour such as no loud parties allowed, to ensure the upkeep of the property, etc. So, make sure that these kinds of things are defined in your rental agreement.
- Rights and Duties: Your online rent agreement in Bangalore should be clear about your rights and duties as a tenant so that you know if what you’re experiencing is within the grounds of your lease agreement.
